2013 First Quarter Federal Tax Developments

April 15 has come and gone but it’s not time to stop thinking about taxes and strategic tax planning opportunities. Since the start of 2013, there have been many new federal tax developments which will impact tax planning for this year and beyond. As 2013 unfolds, many changes made to the Tax Code by the…

Bob Schiller Discusses Personal Goodwill in Goering Center March Newsletter

Selling a business can be a stressful and life changing event. As a business owner, you have poured your blood, sweat and tears into your organization. When it comes time to sell, getting the greatest value for what you’ve built is critical. That means not only negotiating the best sale price, but also minimizing the…

Small Business Lending Starting to Thaw?

As a member of the Hamilton County Development Company SBA Loan Review Committee, I am beginning to see more activity in loan requests, both in new loans and refinances. This is good news for our local Cincinnati economy as the loan activity increases, so too will employment (eventually). The following article addresses this on a…

Before Surrendering Property, Consider the Tax Consequences

With the real estate market still sluggish, some property owners are wondering if they would be better off surrendering their property, rather than continuing to struggle with the loan obligations. Although the answer may seem obvious, discharging debt in this way can have significant tax consequences that should be considered.

Nonrecourse loans

If you default…

The Increased Scrutiny of the IRS

In recent years, there have been significant changes in the way the IRS targets taxpayers for audits, as well as how it conducts the exams. Whether you have read statistics about the percentage of returns that are audited or heard about the recent cuts to the IRS’s budget, you might feel justified in playing the…

Analysis: Supremes Uphold Healthcare Reform

On June 28, 2012 the U.S. Supreme Court issued its decision on the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act (HCERA). The court upheld the vast majority of the legislations, including the most critical aspects of law. Key to the court’s approval of President Obama’s signature health…

Are you at Risk for Internal Fraud?

Do your workers know how to report misconduct internally? Are they comfortable when doing so? 

Research shows that, despite the best efforts of many entities, most corporate environments usually fall short in alerting their employees of the importance of reporting misconduct internally and making them comfortable when doing so. With the U.S. federal government opening…