Posts Tagged ‘Slideshow’

Environmentally Friendly Tax Savings

Thursday, April 14th, 2016

For the last 46 years the global population has come together to channel “human energy toward environmental issues.” On April 22, 2016, the world will once again celebrate Earth Day. You can find a wealth of information on the official Earth Day website, including information about this year’s theme, Trees for the Earth. You can also find some great tips to help you become more energy efficient or help you spread the word about climate change and other topics.

Businesses Can Go Green And Save Green

For business owners, going green can result in significant tax savings as well, which can make environmental responsibility that much more desirable. Take a look at this slide show and find out how green certain eco-friendly initiatives can help strengthen your company’s bottom line.

Environmentally Friendly Tax Cuts For Business Owners from Rea & Associates

Do you want to start saving on your 2016 tax bill? Email Rea & Associates to find out how you can use environmentally friendly tax planning initiatives to ease the tax burden on your business.

By Brian Kempf, CPA (Millersburg office)

Are you looking for more tax tips? Check out these articles:

Go Green For The Planet And Pocket The Savings

Can Making Your Building Green Save On Taxes?

5 Tax Deductions To Ease Your Business’s Tax Burden

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Five Reasons To Fall In Love With Your Financial Advisor

Friday, February 12th, 2016

While your financial advisor is probably the last person you are thinking about during those romantic holidays, you may want to reconsider and here’s why …

You share the same financial goals.

Whether the topic of conversation is on your personal finances or your business’s financial wellbeing, your financial advisor genuinely cares about your current and future economic security. That’s why they are always looking for ways to save you money – not just during tax season, all year long. Read “Don’t Miss Your Chance to Secure Tax-Free Wealth” to learn about five tax savings strategies you may have missed.


5 reasons to fall in love with your financial advisor from Rea & Associates

They are not afraid to ask for help.

Because they want your future to be financially sound, your financial advisor is not only happy to call in outside reinforcements and other industry experts to weigh in on key financial decisions, they insist on it. It’s just not realistic for one person to have all the answers, especially in business matters, which is why your financial advisor likely has a contact list full of bankers, lawyers, real estate brokers, city officials and many other industry leaders and business experts. Read “Getting by with A Little Help from Your Friends” for tips to help you identify the right advisors to help you overcome your unique challenges.

They have your back.

From helping you identify ways to protect your business against fraud to helping you avoid spending more money than is necessary during large negotiations, your financial advisor is always looking out for your best interest. Are you looking for ways to prevent occupational fraud in your business or do you need to know the true value of a property you are interested in purchasing? Either way, your financial advisor has the expertise and experience needed to keep you from being taken advantage of. Check out the article “Are Your Employees Skimming from the Top?” and “How to Make Your Building Work for You with a Cost Segregation Study” for more insight into these topics.

They always have good advice.

It should go without saying that your financial advisor has worked with their fair share of business owners. So, when it comes to knowing the ins and outs of running a business, they have a lot of good advice and can give you some great insight into techniques that have worked as well as warning you about others that may have fallen short of meeting expectations. Your financial advisor may not always provide you with the answer you were looking for, but if you bring them into the conversation they will always be there to give you the sound advice you need. Listen to episode 18 of unsuitable on Rea Radio to hear a veteran financial advisor talk about the positive psychology of having hard conversations.”

Help is always right around the corner.

If you have a personal finance question or are in need of expert business advice, email Rea & Associates to speak with one of our expert financial advisors today.

By Denell Skelton, CPA (Coshocton office)

Are you looking for more business tips and insight? Subscribe to unsuitable on Rea Radio on SoundCloud or iTunes and listen to new podcast episodes every week. Listen to these episodes to learn more:

Stuck on $5 million

Outsourcing: Quite Possibly Your Most Powerful Resource

The Revenue Sin

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Charter Schools Can Thrive In An Era Of Reform?

Friday, May 8th, 2015

It’s hard to avoid the topic of charter school reform these days. From news reports to proposed policy changes, everybody seems to have an opinion when it comes to the proper way to manage these public educational institutions. While it’s still too early to rewrite policy, it doesn’t hurt to monitor the ever-changing pulse of the legislature, especially when it has the potential to drastically impact the way our state’s charter schools are managed.

As students continue to flock to charter schools within their communities, the increased demand has effectively changed the landscape of Ohio’s education facilities. The National Alliance for Public Charter Schools reports that during the 2013-14 school year a record 119,533 students opted to attend one of Ohio’s 400 charter schools. Such a shift in our educational system has spurred increased scrutiny of the charter school industry and has prompted state leaders to call for increased organizational and financial transparency and accountability.

Slideshow: Top 5 Tips For Charter Schools


Top 5 Tips For Charter Schools – Created with Haiku Deck, presentation software that inspires

Charter Schools Continue To Grow In Popularity

Charter schools have proven their worth and show no signs of going away, which has fueled efforts to secure greater regulation and oversight over the institutions. So far this year there has been no shortage of charter school reform proposals – with the most recent one being introduced by State Sen. Peggy Lehner mid-April.

The charter school reforms that are being debated in Ohio’s legislature call for companies and organizations responsible for operating the schools to do so under “higher standards” of quality education. Proponents of reform cite a trend of lower test scores and point to the government funding charter schools currently receive to back a position of greater accountability and transparency.

“Charter schools can be examples of exceptional education,” Lehner told The Cleveland Plain Dealer in April. “But Ohio has been ‘extremely loose’ in its rules about who can run (manage) schools … and (has) ‘failed to put up the sort of guardrails’ that force the schools to be of high quality.”

According to the Cleveland publication, the National Association of Charter School Authorizers (NACSA) points to the success of many national charter schools as examples how communities and students can continue to benefit from properly managed privately-held institutions and point to the importance of outside agencies, namely school districts, state or city panels, colleges and non-profits, “to do a better job of making sure schools provide solid educations to children.”

The three proposals introduced so far this year all call for stricter oversight with regard to which entities are authorized to set up charter schools across the state.

How Are These Proposals Different?

 

Charter School Changes - Rea & Associates - Ohio CPA Firm

The more charter schools grow in popularity, the more attention they get in the legislature – especially in Ohio where during the 2013-14 school year a record 119,533 students attended one of the state’s public charter schools.

Gov. John Kasich’s budget proposal called for Ohio’s charter schools to receive two new potential funding sources while holding school sponsors to a higher standard of accountability. His proposal sought to generate a $25 million facilities fund, which would be available only to the highest-rated sponsors. Those highly-rated sponsors would also be allowed to seek local tax levies while advocating for the closure of poorly performing schools. Furthermore, he would:

  • Require all sponsors to be approved by the Ohio Department of Education and go through the state review and rating process.
  • Prevent sponsors from selling goods and/or services to the schools they sponsor in an effort to avoid conflicts of interest.
  • Mandate that all charter schools only employ treasurers, auditors and lawyers who are not affiliated with the school’s sponsor or management company.
  • Advocate for stronger rules for schools and operators that apply directly to the state for sponsorship.

The next charter school reform that was proposed, House Bill 2, was touted as a solution that would promote accountability, transparency and responsibility by:

  • Requiring all charter schools – including district-created dropout recovery schools – to be included in the Ohio Department of Education’s report card.
  • Mandating that all contracts between schools and sponsors include more detail about expected academic performance of the schools as well as details about the school’s facilities and rental or loan costs.
  • Preventing charter schools from frequently changing sponsors in order to appear as though they are in good standing.
  • Requiring the full disclosure of all conflicts of interest.
  • Calling for the annual disclosure of financial reports that allow sponsors to better monitor the school while advising it.
  • Instructing all management companies or organizations to begin reporting their performance.
  • Prevent sponsors from selling goods and/or services to the schools they sponsor in an effort to avoid conflicts of interest.
  • Prohibiting school district employees and vendors from sitting on the school’s governing board.
  • Ensuring that school treasurers will no longer be hired by the school’s sponsor.

State Sen. Lehner’s most current proposal reportedly “takes many pieces of [the other proposals] and adds additional controls – and benefits.” The Cleveland Plain Dealer states “the bill does not have the state directly close poor-performing charters quickly … instead [it] takes the more indirect path that the charter school community prefers nationally. The bill pressures the ‘sponsors’ … to raise standards.” Her bill aims to:

  • Strengthen language that will prohibit “sponsor hopping.”
  • Increase the transparency associated with expenditures generated by operators.
  • Require all sponsors to have a contract with the Ohio Department of Education [ODE].
  • Incorporate Gov. Kasich’s charter school sponsor oversight proposal.
  • Limit the direct authorizing by the ODE and allows it to decline applicants.
  • Prohibit sponsors from spending charter funds outside of their statutory responsibly.
  • Encourage high performing schools with facilities by encouraging co-location and facility funding.

I am sure we will hear much more about this issue before it comes to a vote. But in the meantime, keep following these events and consider how changes might affect you. Email Rea & Associates to find out how we can help you overcome current challenges while preparing for the future.

By: Zac Morris, CPA (Millersburg office)

 

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