Archive for April, 2012

How Do You File for Ohio General Tax Amnesty?

Monday, April 30th, 2012

Ohio’s General Tax Amnesty program kicks off tomorrow, but a lot of individuals and businesses don’t know how to participate in it.  That’s a shame, because it’s been 3 years since the last general amnesty for businesses and 6 years since the last amnesty for individual taxpayers. (more…)

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Could Ohio Use Tax Amnesty expose vendors who aren’t charging sales tax?

Friday, April 27th, 2012

Over the last year, you’ve heard a lot about Ohio’s Use Tax Education program, which has since become the Use Tax Amnesty program.  Use tax is tax that is owed on goods and purchases for which sales tax should have been charged, but wasn’t.  It’s a great program, assisting Ohio taxpayers in getting current with their Ohio use tax liabilities and waiving penalties and interest.  Ohio’s got another tax amnesty program, General Tax Amnesty (which includes sales tax) starting this week – which makes this a good time to mention a darker side to the Use Tax Amnesty program and how it could impact vendors. (more…)

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What are the 12 qualities you want from your accountant?

Thursday, April 26th, 2012

When you’re looking to hire an accountant, what qualities should you consider? Sure there’s technical acumen, but that’s a given. What other qualities are important in developing a long-term business relationship? (more…)

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How do you stay financially healthy?

Friday, April 20th, 2012

As a doctor, you know that prevention is the best medicine.  You encourage your patients to eat their greens, to exercise, and to make healthy decisions.  Physical health is important; but so is another kind of health.  As a CPA, I help physicians to stay financially healthy.  While there’s no “apple a day” to keep the IRS away, there are some preventative steps that you can take to maximize your financial well-being. (more…)

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Did a not-profit’s tax return compromise your identity?

Thursday, April 19th, 2012

A new study by Identity Finder shows that 18% of non-profit organizations have published social security numbers on their Form 990 tax returns.

But, we all put our social security numbers on our tax returns.  So, what’s the big deal?  Unlike personal income tax returns, 990s are available to the public.  They’re regularly published by the IRS and shared with various grant-making organizations and the public.  Non-profits use 990s for a lot more than just filing taxes – often they submit copies of 990s with grant applications and make them available to donors.  A 990 can tell you a lot about the financial health of an organization; they’re considered the industry standard financial snapshot for non-profit organizations. (more…)

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