News

Graphic of a scale weighing "Dividends" and "Interest"

Tax Advice: The Ins and Outs of Tax on “Income Investments”

November 2, 2017

All “income investments” aren’t alike when it comes to taxes. Here’s what you need to know.

Group of scientists looking at test tubes and noting results.

For Small Businesses: Research Credit Can Offset Payroll Taxes

November 2, 2017

The research credit once benefited only businesses that had sufficient income tax liability to absorb it. Now small start-ups with big research expenses and little or no profit can also enjoy the credit.

JCI Contractors, Inc, winners of "Excellent in Construction" award

Historic Mentor Village Hall: Winner!

November 2, 2017

Excellence in Construction Awards were announced October 27 in Cleveland.

Hand dropping coins into a retirement coin, "Plans for the Self-Employed"

Tax Advice: For the Self-Employed, a Retirement Savings Opportunity

October 26, 2017

If you’re self-employed, set up a retirement plan for 2017 to boost tax-advantaged saving.

Large office building surrounded by trees.

For Small Businesses: Maximize Deductions for Business Real Estate

October 26, 2017

Investing in business real estate is expensive. Are you getting all the deductions you can?

Smiling businesswoman standing in front of a stone wall.

Tax Advice: Executives, Taxes That Could Apply to You

October 17, 2017

Restricted stock, stock options and nonqualified deferred compensation can be valuable forms of compensation. But could your exec comp be subject to the additional 0.9% Medicare tax or the 3.8% NIIT?

Cutouts of "HRA", "HSA", and "FSA" hanging on a line with clips.

For Small Businesses: Which Tax-Advantaged Health Account to Include

October 16, 2017

HRAs, HSAs and FSAs all allow you to offer your employees a tax-advantaged way to fund health care expenses. Each type of account has its pluses and minuses.

Tax Advice: Boost the Impact of Charitable Gifts

October 16, 2017

How to boost the impact of charitable gifts and save more on taxes.

Yellow coffee mug decorated with "October 16" on a desk.

Tax Advice: File by October 16, No Matter What

October 12, 2017

The Oct. 16 extended deadline for filing 2016 individual federal income tax returns is almost here. Learn what to do if you extended your return but can’t pay the tax due.

For Small Businesses: Accelerate Your Retirement Savings With a Cash Balance Plan

October 9, 2017

Many business owners are so focused on their business that they neglect retirement planning. If you’re among them, setting up a cash balance plan for your business can turbocharge your retirement savings.

Stethoscope wrapped around stack of $100 bills

Tax Advice: “Bunching” Medical Expenses for Savings in '17

October 3, 2017

Accelerating deductible expenses into the current year is one way to reduce your tax bill. Tax reform may make “bunching” medical expenses into 2017 an especially valuable acceleration strategy.

Overlay of watch on coins and paper bills.

For Small Businesses: Timing Strategies Could Become More Powerful

October 2, 2017

Timing really may be everything for businesses when it comes to 2017 year-end tax planning, depending on what happens with tax reform.

Squeegee cleaning a car window, leaving behind "wash sale rule"

Investors, Beware of the Wash Sale Rule

September 27, 2017

While no one wants to lose money, realizing a capital loss on an investment can provide tax savings. Don’t let the wash sale rule wash out the tax benefits.

An older couple standing next to each other in their coffee shop.

For Small Businesses: How Spouse-owned Businesses Can Reduce Self-employment Taxes

September 25, 2017

Own an unincorporated business with your spouse? Then you might be paying more self-employment tax than necessary. Find out how you can save SE tax.

Blue porcelain chicken next 401k eggs in a nest with money.

Tax Advice: Do You Contribute Enough to Your 401(k)?

September 19, 2017

Both traditional and Roth 401(k) plans offer significant tax and retirement planning benefits. Why you should boost your 401(k) contribution rate between now and year's end.

Business professional folding dress shirts next to briefcase.

For Small Businesses: About Per Diem Rates for Travel

September 18, 2017

Per diem rates simplify employee travel reimbursements while preserving tax benefits.

College students walking down a hallway.

Tax Advice: Save More For College with a 529 Savings Plan

September 12, 2017

If you’re concerned about saving for your child’s (or grandchild’s) higher education, consider a Sec. 529 plan. It can help you build a large college nest egg via tax-deferred
compounding.

2017 Q4 Tax Calendar (October, November, and December)

For Small Businesses: Key 2017 Q4 Tax Deadlines

September 12, 2017

Year-end tax planning and possible tax law changes aren’t the only issues you should be considering as we enter the fall season.

NMS-CPA, Inc. winner again in 2017 Fast Track 50

NMS Honored Again by Lake-Geauga Fast Track 50

September 12, 2017

For 25 years, this award has honored companies and individuals showing growth and change to contribute to their business success.

Tax Advice: Thoughts on Donating Real Estate to Charity

September 6, 2017

Plan real estate donations carefully to avoid undesirable tax consequences.

Closeup of a handshake between two business professionals.

For Small Businesses: Tax Planning Critical When Buying a Business

September 6, 2017

Acquiring another business? All too often, as parties talk sales price and deal structure, many tax issues fall by the wayside.

School supplies, text books, an apple, and a world globe next to the words "Educator Expense Deduction"

Tax Advice: The ABCs of Tax Deduction for Educators

September 4, 2017

Teachers who buy supplies for their classrooms may be eligible for a tax break.

Lower half of a hockey player on ice skates with hockey puck on the ground with words "Bigger meal deduction?"

For Small Businesses: Providing Meals to Staff? Larger Deduction Possible

August 31, 2017

While many business expenses benefiting employees are 100% deductible, often meals are only 50% deductible. But a recent Tax Court ruling involving a hockey team could lead to a 100% deduction for more meals.

Red colored pencil resting on paper with "Roth IRA" circled, IRA not circled

Tax Advice: Yes, You Can Undo a Roth IRA Conversion

August 31, 2017

It may not be too late to change your mind and avoid the tax consequences of the conversion.

Business professional in a suit and tie holding his hands in front of him with a glowing, floating image of a briefcase with a plus sign on it.

For Small Businesses: Could Captive Insurance Save You Money?

August 21, 2017

Captive insurance can be a creative, tax-smart solution to a problem facing many businesses: rising health care coverage costs. But it has both pros and cons and isn’t right for every company.

Select a Category