Category Archives: CPA & Business Advisory

Ohio Municipal Net Profit Tax Update

Posted on Tuesday, August 7, 2018 by

Ohio’s municipal income tax reform sought simplicity for Ohio businesses through uniformity. With the enactment of H.B. 49, the state’s centralized filing and administration of municipal net profit taxes through the Ohio Department of Taxation is currently underway.

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Changes on the Horizon for U.S. and International Lease Accounting Standards

Posted on Monday, August 6, 2018 by

Lease accounting standards for all leases in the U.S. and internationally are set to change in the next few years due to new guidance released by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB).

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Prospects for SALT Deduction Lawsuit Filed by States are Unclear

Posted on Monday, July 30, 2018 by

As part of the Tax Cuts and Jobs Act (the Act), a limitation was imposed on the state and local tax (SALT) deduction. According to four states – Connecticut, New Jersey, New York and Maryland – that limitation is unconstitutional.

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The Bigger Real Estate and Construction Disrupter: Interest Rate Hikes or Tariffs?

Posted on Monday, July 30, 2018 by

It’s often assumed that interest rate hikes would significantly impact the real estate and construction industry. But that may not be the case in the immediate future. In fact, recently proposed tariffs may end up playing a larger role in real estate and construction market performance over the next several quarters.

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What is Third-Party Logistics (3PL) and How Can It Help Your Manufacturing Business?

Posted on Tuesday, July 24, 2018 by

The variables that determine how and when a product is shipped are almost as important as the product itself. However, manufacturers are busier than ever, and your company may find itself falling behind in the rapidly evolving logistics game. In this case, a third-party logistics (3PL) firm could be the right move for your business.

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4 Changes in Revenue Recognition for Software Companies Under ASC 606

Posted on Monday, July 23, 2018 by

The Financial Accounting Standards Board has issued a new revenue recognition accounting standard (ASC-606, Revenue from Contracts with Customers). The standard features a new five-step process for recognizing revenue.

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You Can – and Should – Harness Digitalization for Your Manufacturing Business

Posted on Thursday, July 19, 2018 by

Companies that have implemented digital processes and tools, or are in the process of doing so, stand to benefit in big ways. Those that have yet to embrace digitalization, meanwhile, are quickly falling behind.

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Qualified Opportunity Funds Enable Investment in Opportunity Zones, But Questions Remain

Posted on Monday, July 16, 2018 by

One of the little-known provisions of the Tax Cuts and Jobs Act is the introduction of Opportunity Zones. These zones are census tracts in economically distressed communities where new investments may be eligible for preferential tax treatment.

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Ohio and Florida Among States with 2018 Sales Tax Holidays

Posted on Tuesday, July 10, 2018 by

At a time when many new, complex federal tax laws are still being digested by businesses and individuals alike, it’s nice to know that some things remain the same—all of the states that offered sales tax holidays last year will again offer them in 2018, with the addition of Wisconsin.

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Are Tokens the New Equity?

Posted on Monday, July 9, 2018 by

For years, many startup and small-cap companies have used stock options to reward employees and pay them for specified services. Now, in today’s digital age, blockchain “tokens” (also called “virtual tokens” or just “tokens”) are fast emerging as an alternative to stock options.

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