Not A Statistic

Because most owners of startup businesses have never been exposed to the unique demands of business ownership, the resources provided by incubators are critical. Read on to learn more.

episode 68 – keep your money: count every credit & employ every incentive

Wondering how to make filing your taxes as pain free as humanly possible? State and local tax guru Chad Bice, CPA, a principal in Rea’s Zanesville office, may have the answer. On this episode of unsuitable on Rea Radio, Chad shares some valuable insight: tax credits and incentives aren’t just for the giant corporations. Small- … Continued

Protect Yourself From Ohio Use Tax

You know that bad dream that everyone has at least once? You show up to work, school or anywhere with a large crowd…and you’re nude. You wake up with that sick, vulnerable feeling in your stomach like you’ve just been exposed. Well, this time it’s not a dream. But it’s much worse than being in … Continued

Child and Dependent Care Credit

Here’s a way to get a little bit of that money you spend on your children back in your pocket: claim the Child and Dependent Care Credit. First, you need to understand the criteria for a qualifying individual: A child under the age of 13 when the care was provided and is eligible to be … Continued

Renouncing the USA Doesn’t Mean No Taxes

Although hundreds of people do so each year, Americans who renounce their U.S. citizenship to protect their wealth will no longer be able to escape the IRS. A new law will tax the assets of those who leave for good on their way out the door as if they were selling those assets. In addition, … Continued

Navigating Treacherous Seas

Sales and use tax is currently a major source of revenue for Ohio and surrounding states – and a real challenge to business owners. The many pages of intricate code and regulations are difficult to decipher and the fact that they are continually changing presents even more obstacles. “It’s next to impossible for taxpayers to … Continued

Too Global or Not Too Global

That’s not a typo. As we are faced with new global accounting standards, we can’t help but ask ourselves: is accounting going too global? Are these standards more than we need for our U.S. operations? On May 18, 2008, the AICPA added International Accounting Standards to the acceptable forms of presentation for audited financial statements … Continued

Investment in Employees & Capital

Many companies are in the process of putting the final touches on their short and long term budgets, which often involve projections for investment in employees and capital. Investment in people might include additional expenditures for training, hiring additional employees and training those new employees to support business growth. Investment in capital might include adding … Continued

What Happens When You Cross a Financial Statement With a Tax Return?

All companies are required to file income tax returns, but not all companies are required to issue financial statements to third parties such as banks, investors or bonding companies. If your company issues financial statements to third parties, you may be interested in Financial Accounting Standards Board (FASB) Interpretation 48, Accounting for Uncertainty in Income … Continued

Entertainment Expenses

Don’t overpay income taxes by overlooking expenses you are entitled to deduct relating to entertainment. There are limits and restrictions on the deductibility of entertainment expenses. For employees who are “fully reimbursed,” the limits are imposed on the employer, not the employee. Entertainment must be either directly related to your business or associated with it, … Continued