Archive for December, 2011

Thinking of Gifting Money to Relatives? Late 2011 and Early 2012 May Be Best Timing

Wednesday, December 28th, 2011

If you’ve been considering making a monetary gift to your children or other relatives, you may want to make your gift well before December 31. And better yet, if you haven’t made any previous gifts in 2011, you can gift up to $13,000 in 2011 and follow up with a gift of up to $13,000 in early 2012. (more…)

Sooner Rather Than Later? Why You Should Do Ohio Use Tax Amnesty Now

Monday, December 19th, 2011

For the past several months, we’ve told you about Ohio’s use tax amnesty program. You may have read that the program will continue through April 1, 2013. So why should you participate in the amnesty program now rather than later? Here are four reasons. (more…)

Does Your Nonprofit Qualify for the Health Care Tax Credit?

Wednesday, December 14th, 2011

Wouldn’t your not-for-profit organization love to find an additional $500 to $5000? Nonprofit groups are often surprised to find that they may qualify for the small business healthcare tax credit, which began in 2010. The credit, which applies to both for-profit and nonprofit entities, has already netted several of our clients between $500 and $5000 in refunds for the 2010 tax year. (more…)

Is Your Business Ready for a Year-End Check-Up?

Monday, December 12th, 2011

2012 will be here before we know it. Now is the perfect time to bring all of your business advisors together for a year-end financial check up. (more…)

Is 2011 the Year to Give? IRA Contributions to Charity

Friday, December 9th, 2011

If you’re thinking about donating a portion of your IRA to charity, you’ll receive a greater tax benefit if you do so before December 31. A popular provision is set to expire at the end of the year, and there is no guarantee the provision will appear in an extender bill in Congress anytime soon. (more…)

Got GAAP? Private Companies Asked to Comment on National Financial Reporting Standards

Tuesday, December 6th, 2011

Private companies have a once in a lifetime opportunity to express their concerns to standards setters that private company financial reporting is far different from publicly traded ones – and as a result financial reporting standards should be created and governed by an independent private company board. (more…)