Dear Drebit | Ohio Accounting Firm | Business Accounting Blog

Does Your Nonprofit Qualify for the Health Care Tax Credit?

Maribeth Wright, CPA, Shareholder | 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. Read the rest of this entry »

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

Alan Hill, CPA, Principal, Director of Healthcare Services | 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. Read the rest of this entry »

Posted in Business Advice | No Comments »

Is 2011 the Year to Give? IRA Contributions to Charity

Joseph Popp, JD, LLM | 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. Read the rest of this entry »

Tags: charitable contribution, charitable deduction, Charity, IRA distribution
Posted in Personal Finance, Tax | No Comments »

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

Chris Roush, CPA, Shareholder | 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. Read the rest of this entry »

Tags: GAAP, Generally Accepted Accounting Principles, private company financial reporting standards
Posted in Audit, Business Advice | No Comments »

Are You Ready for the Next Phase of InvestOhio?

Joseph Popp, JD, LLM | November 30th, 2011

Recently we’ve been telling you about Ohio’s new nonrefundable tax credit program called InvestOhio. Through it, Ohio taxpayers who invest in qualifying Ohio small businesses can qualify for a 10 percent credit against their personal Ohio income tax if they meet certain requirements. In less than two weeks, taxpayers can begin the second step in the application process for this tax credit. Read the rest of this entry »

Tags: InvestOhio, Ohio Business Gateway, small business, tax credit program
Posted in Business Advice, Personal Finance, Tax | No Comments »

Ready for a Walk Through Ohio’s Use Tax Amnesty Process?

Chad Bice, CPA, principal | November 28th, 2011

If you owe use tax, you currently have an opportunity to save thousands of dollars in use tax, interest and penalties thanks to Ohio’s use tax amnesty program. The program is one of the most taxpayer-friendly programs ever enacted by the State of Ohio. Read the rest of this entry »

Tags: Ohio use tax, Ohio Use Tax Amnesty Program, Ohio Use Tax Education Program, Use Tax Amnesty Program
Posted in Business Advice, Tax | No Comments »

Do you know the 2012 Retirement Limits?

Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services | November 23rd, 2011

Employees and individual retirement plan owners can contribute more toward their retirement benefits next year. Read the rest of this entry »

Tags: contribution limit, IRA, pension, retirement
Posted in Personal Finance, Tax | No Comments »

Need Help Understanding Employee Healthcare Benefit Reporting on W-2s?

Tiffany Crawford, JD, Tax Specialist | November 22nd, 2011

The IRS recently held a webinar to explain its reporting requirements for healthcare coverage on employees’ W2’s for the 2011 tax year. We’ve provided a summary of the webinar below for those of you who missed it. Read the rest of this entry »

Tags: healthcare benefits reporting, W-2
Posted in Business Advice, Tax | No Comments »

Guarantor Requirementsfor Ohio Use Tax Payment Plan Changed

Chad Bice, CPA, principal | November 17th, 2011

The requirements for participating in the State of Ohio’s use tax amnesty program’s payment program just got a little easier. Read the rest of this entry »

Tags: Ohio use tax, UTEP
Posted in Business Advice, Tax | No Comments »

Are You Ready for the InvestOhio Tax Credit? Register for Tax Credit This Week

Joseph Popp, JD, LLM | November 15th, 2011

Ohio taxpayers who invest in a qualifying Ohio small business can qualify for a 10 percent credit against their Ohio income tax if they meet certain requirements – and they can now apply for the credit. Read the rest of this entry »

Tags: InvestOhio, Ohio tax credit program, small business investment
Posted in Business Advice, Personal Finance, Tax | No Comments »