Archive for February, 2014

How Can My Statement of Cash Flows Transform My Business?

Friday, February 28th, 2014

Do you realize that your business’s financial statements are a valuable management tool for decision making? You may be thinking, “Well, I just get them done because the bank needs them for my loan file,” or, “I think I have a copy in a drawer somewhere.” But if you take the time to understand your financial statements, you’ll be surprised to find that they can give you information on the condition of your company and allow you to make better business decisions.  (more…)

Share Button

What Could Ohio’s Small Business Investor Income Tax Deduction Do For Me?

Thursday, February 27th, 2014

In an effort to become more taxpayer-friendly and reduce the effective tax rate, Ohio enacted the Small Business Investor Income Tax Deduction effective for tax year 2013. This tax deduction benefits many of Ohio’s individual income taxpayers. So how exactly does this deduction work?  (more…)

Share Button

What Tax Liabilities Accompany Inherited Real Estate?

Wednesday, February 26th, 2014

So you just inherited some real estate. You’re probably now wondering – is this a blessing or a curse? From the tax perspective, of course. And that’s a good question to ask. Just because you inherit something doesn’t mean that you’re free and clear of any potential tax liabilities. Depending on how you use the property and if you sell it will determine if you have a taxable situation. So here’s what you should know about taxes and inherited real estate.  (more…)

Share Button

How Do I Apply For Ohio’s Honor Project Trust?

Wednesday, February 19th, 2014

Could your nonprofit use some “extra cash”? I’m sure most of you answered “yes” to that question. And the timing couldn’t be better. A few months back I wrote a blog post about Ohio’s Honor Project Trust. The Honor Project Trust was created as a result of a lawsuit settlement. Excess settlement proceeds from the lawsuit totaling approximately $9 million were earmarked for Ohio nonprofits. The trust’s mission is to identify and providing funding to not-for-profit charitable organizations that have a societal impact in the State of Ohio.  (more…)

Share Button

What Should Plan Sponsors Ask Their Investment Advisors?

Wednesday, February 12th, 2014

Like many business owners, running your business every day is a top priority for you. But as a sponsor of a 401(k) plan, you have an obligation to your employees to make your plan a priority as well. The truth is, most business owners are not 401(k) experts. Therefore, working with a quality 401(k) investment advisor should also be a priority. As a plan sponsor, there are questions you should be asking your advisor to ensure they are helping your meet your fiduciary obligations as the plan sponsor.  (more…)

Share Button