Blog & Newsroom

You check your mail and you see the return address, IRS. Your first thought? Well, that can’t be good. You open up the letter and you read that you’re being audited. Look on the bright side – less than 1% of returns get audited each year, you’re just one of the lucky ones! All jocularity aside, there’s nothing to panic about.

The IRS recently issued a warning to taxpayers who are seriously delinquent on their tax debt - you may be unable to attain a new passport or renew your existing one.

T'is the season! Tax season that is. It’s also identity theft season. Last year over 100,000 people discovered that their identity had been stolen when they attempted to file their taxes. While the IRS and other tax jurisdictions have worked diligently to reduce the number of fraudulent filings, there is still a lot that you can do to protect yourself from identity theft.

The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has announced they have approved a 20% cut in premiums for private employers. The cut was proposed by BWC’s Director and CEO.

The sad reality is more than 50% of marriages end in divorce. The median duration of a marriage in the United States is 11 years. Divorce is a reality and there are some important things you need to know from a financial and tax perspective.

Part 5 of a 5 Part Series 

Can board members be held personally liable for actions of the organization? Yes!

Agreeing to sit on a board for a nonprofit is a great way to donate your time and expertise. However, it comes with a great deal of responsibility.

The Treasury Department and the IRS have issued guidance that provides a safe harbor for calculating depreciation deductions from passenger vehicles that qualify for the 100% additional first year depreciation deduction.

Part 4 of a 5 Part Series

Not-for-profit boards have an important role in reviewing and approving the financial reports of the organization. In order to effectively evaluate the organization’s activities, plan for the future, and make decisions, financial reports are almost always on the agenda at board meetings.

First, a joke about catch up…

“Three tomatoes are walking down the street…papa tomato, mama tomato and baby tomato. Baby tomato starts lagging behind and papa tomato gets really angry, goes back and squishes him and yells… CATCH UP!!!!”

That joke isn’t going to get a lot of laughs at the IRS (alright, I admit it won’t get laughs anywhere else either) as they try to get caught up after the longest government shutdown in U.S. history. The shutdown, which lasted 35 days and affected the majority of the IRS’s workforce, has had a profound impact on an agency that had already been running very lean.

Part 3 of a 5 Part Series

An Organization’s management is charged with managing the day-to-day operations of the non-for-profit; however, this does not relieve Board Members from taking on certain oversight responsibilities.