Akron Financial Services

Click here to view Part 1 of our series and learn more about the stock option landscape or Part 2 to learn more about the accounting and tax ramifications of issuing stock options.

What To Do?

As discussed above, there are significant risks that a company brings upon itself if it decides to issue stock options without properly valuing the options and the equity of the company. Rather than issuing stock options, if a company wants to offer an employee the opportunity to obtain an ownership interest, the most efficient and “clean” method may be to allow the employee to purchase shares from the company or from existing owners. There is no valuation requirement in this case (unless a party wants to hire an expert to ensure that they the transaction price is fair and reasonable) which also eliminates the out-of-pocket cost for the employer. In fact, a business actually recognizes a cash inflow when an employee purchases shares directly from the company. 

I am a valuation expert and I directly benefit from work associated with the valuation of stock options, so why am I telling you to consider alternative routes of compensation? Too often, the companies that issue stock options without having them professionally valued are the same companies that will fight against having their options valued at all due to the cost associated with the valuation. I simply want to spread awareness that there are other avenues of compensating employees and giving them opportunities for equity ownership that may be more cost efficient for companies that are under the illusion that issuing stock options does not require a cash outlay.

If you take anything away from this article, remember that issuing stock options is not a “cashless” expense. Consider that there are other alternatives for compensating employees other than using stock options. Remember that there are transaction costs associated with issuing stock options, specifically, hiring a valuation expert, that will create real out-of-pocket cost for any company. Unless you are ready to comply with the valuation requirements associated with issuing stock options, you may be better off simply not using them and compensating employees in another manner. Finally, just like selling a home, if you are going to issue stock options make sure that you bring in an expert to ensure that the value of the company and options are determined and documented appropriately – and be prepared to pay the “commission” for these services.

The information in this article is not meant to represent legal or tax advice. Please consult with a Skoda Minotti business valuation professional or your tax/legal advisor regarding the applicability of these issues to your particular situation.

Visit our web site for more information on our business valuation services. Skoda Minotti is a CPA, business and financial advisory firm with offices in Cleveland and Akron.

Accounting and Tax Ramifications of Issuing Stock Options

 Click here to view Part 1 of our series and learn more about the stock option landscape.

To give you more perspective, first let us review the accounting treatment for the issuance of stock options (rest easy - this will not be too painful). When stock options are issued, an expense must be recorded based on the value of the option. A stock option’s value is derived from a variety of factors, two of which are the value of the stock as of the date of the option grant and the exercise price of the option (the price at which the option holder can purchase a share of stock). Determining the value of a company’s stock is not difficult when it is publicly traded, but privately-held companies do not have readily available market prices, which necessitates the services of a valuation expert. Unless the option is properly valued, a company cannot correctly record the associated compensation expense. If a company is unable to correctly record the results of its operations, it may find obtaining a clean audit opinion to be a difficult, if not impossible, task.

Now that I have warned you about the headaches that you may encounter on the “accounting” side of issuing stock options, let me further alarm you with the tax ramifications. If a company sets the stock option exercise price lower than the fair market value of its stock on the grant date, the stock option could be deemed to be deferred compensation according to Internal Revenue Code 409A. Under 409A, such deferred compensation would be immediately taxable to the employees receiving the grant and subject to regular income tax rates plus 1%. Perhaps even more distressing, a 20% penalty plus interest would also be triggered. In addition, employers would be responsible for withholding income taxes for employees on these types of option grants, which if not done, could result in additional tax penalties. The immediate taxability, penalty and withholding requirements do not apply when the stock option exercise price is equal to or greater than the fair market value of the company’s stock on the grant date. It is impossible to compare the exercise price of a stock option to the fair market value of a company’s stock unless a valuation of the company’s stock has been performed. In addition, when a valuation has been performed to establish the fair market value of a company’s stock, the burden of proof shifts to the IRS to disprove the appraised value. Therefore, unless there is documentation to support the fair market value of a company’s stock near the option grant date, there could be significant tax issues in addition to the accounting issues alluded to earlier.

The information in this article is not meant to represent legal or tax advice. Please consult with a Skoda Minotti business valuation professional or your tax/legal advisor regarding the applicability of these issues to your particular situation.

Visit us tomorrow for Part 3: What to Do?

In the meantime, visit our web site for more information on our business valuation services. Skoda Minotti is a CPA, business and financial advisory firm with offices in Cleveland and Akron.
 

When selling your home, it is common to use an agent to list, promote and show the property. In exchange, you pay a portion of the sales price as a commission to the agent. The benefits of using an agent include: 1) the listing of your home in a database so that homebuyers can access information about it; 2) the agent acting as your middleman during the negotiation process; and 3) the incentive it gives the agent to sell your home quickly (so that her or she can earn their commission). 

Some people choose to sell their home by owner and forego using an agent. These are typically the homes that have “For Sale” signs in their yards for many months, sometimes even years (you know the ones), before they are actually sold. These people often believe that the benefit of not having to pay an agent commission on the sale of their home is worth the prolonged period it will likely take to sell the property. 

What does the choice of hiring a real estate agent or selling your home by owner have in common with private companies issuing stock options? The strange answer is: Much more than many of us realize. 

The Stock Option Landscape

More and more private companies are issuing stock options as part of their key employees’ compensation plans. This may be driven by the ideas that: 1) stock options don’t “cost” anything to the company; 2) stock options will positively influence employees’ performance; or 3) since public companies issue stock options, it must be a good idea and private companies should follow suit. Regardless of the motivation, what most private company owners and executives do not realize is that accounting for stock options, for both tax and financial reporting purposes, may actually have an out-of pocket cost that is greater than the value of the options themselves.

In order to value stock options issued by private companies, there are two major steps that must be undertaken:

1. Determining the value of the company’s equity (which is a key input to valuing a stock option)

2. Determining the value of the stock option

There are not many privately-held companies with the in-house resources or expertise necessary to perform either of the requirements above, both of which are essential in accounting for the issuance of stock options. This often puts accountants in the awkward position of trying to explain to business owners the “unseen” costs and accounting ramifications associated with issuing stock options.

Back to our analogy, hiring a valuation expert to determine the value of stock options is much like hiring a real estate agent to sell your home. A valuation expert is able to perform both of the tasks identified above that are necessary to value the stock options issued by a private company, much like a real estate agent takes care of the necessary steps to sell your home. This work is not free, however, and depending on the complexity of the company and the options issued, the cost to value a private company’s stock options can range in cost from thousands to tens of thousands of dollars. When private companies issue stock options, they often do not consider the “commission” that they will have to pay to a valuation expert to ensure that the options are properly valued. Unlike real estate agent commissions, however, which are based on the sale price of the home, valuation fees are relatively fixed. 

Just like selling a home “by owner,” some companies will issue stock options and try to determine the value themselves (or even worse, not value them at all). By not using a real estate agent, homeowners often find themselves making no headway in the sale of their home. Similarly, by not hiring a valuation expert to value the stock options that they have issued, private companies create the risk that their auditors will not sign off on their financial statements. Maybe even more importantly for business owners and employees, unsubstantiated option values leave both companies and their employees in danger of stiff tax consequences.

The information in this article is not meant to represent legal or tax advice. Please consult with a Skoda Minotti business valuation professional or your tax/legal advisor regarding the applicability of these issues to your particular situation.

Visit us tomorrow for Part 2: The Accounting and Tax Ramification of Issuing Stock Options

In the meantime, visit our web site for more information on our business valuation services. Skoda Minotti is a CPA, business and financial advisory firm with offices in Cleveland and Akron.

As a kid, baseball and football trading cards were my life. I would absorb the stats on the back of each card and rattle them off at school like it was a homework assignment. I have boxes and boxes of cards that I accumulated over the years, as I am sure that may of you do (if your mom hasn’t tried to throw them away yet). What do baseball cards have to do with the value of your business? More than you think.

Magazines such as Tuff Stuff and Beckett quote estimated prices for nearly every sports trading card available. These prices are representative of what we in the valuation world would call “fair market value”. This is the price at which a willing buyer and a willing seller, with all material facts about the card known to them, would likely transact. A majority of business valuation engagements, including those for IRS gift and estate tax reporting purposes, divorce proceedings, and as directed by many operating agreements, require fair market value to be used as the standard of value. Fair market value typically contemplates that the purchaser is a “financial” buyer (someone who is making an investment in the business with no means to create synergies or other economies of scale), unless certain circumstances dictate otherwise.

When many business owners contemplate the value of their business, however, they often think of a larger company similar to their own paying a premium for their business. The assumption made by the business owner is that the purchaser will be able to recognize certain post-transaction efficiencies, which will allow the acquirer to pay more for the business than a “financial” buyer. This is called “strategic value” or “investment value” (the value to a specific buyer), which is not the standard of value required to be adhered to in many business valuation engagements.

For example, I have a 1994 Kenny Lofton Upper Deck card that has a quoted value of $.10 according to Beckett. Someone who has the entire 1994 Upper Deck set except for the Kenny Lofton card that I own may be willing to pay a premium above the card’s $.10 “fair market value” because that owner can derive additional value by completing their set. This premium price is the “strategic value” or “investment value” to that specific owner, but is not reflective of the card’s “fair market value” in the general marketplace. 

While a business’ underlying assets are the drivers its value, the perspective from which that value is determined can have a significant impact on the final number. When business owners are in need of valuation services, it is important that all of the parties understand what standard of value is being used, whether it is “fair market value” or something different, so that the value of the business is considered in the correct context. 

Looking for business valuation assistance in Cleveland or Akron? Contact our Business Valuation Group at 440-449-6800 for more information.

It's like a game of hide and seek for wealthy Americans.  In 2001, the Internal Revenue Service estimated that Americans owed $345 billion more in tax than they paid, or about 14% of federal revenues from fiscal year 2001.  Where were these tax dollars hiding?  The U.S. government is betting a good portion is hiding in the Swiss Alps. 

In an unprecedented move, the Swiss Justice Department agreed to disclose the names of 4,450 UBS account-holders from 2001 to 2008 that contained more than $1 million Swiss francs, where there was reasonable suspicion of tax fraud.  Suspicious activity that could be interpreted as tax fraud included the use of debit cards, cell phones, or wire transfers to hide accounts. 

The legal jockeying began in June of 2008 when the Justice Department filed court papers in Miami, Florida to allow the IRS to get information from UBS.  In essence, the investigators requested to serve "John Doe" summonses to obtain information about possible tax fraud against taxpayers whose identities are not known.  A former UBS banker started the ball rolling when he suggested there could be as much as $20 billion in undeclared funds sitting in Swiss accounts.  Tax laws require that taxpayers who have financial interest in or other authority over any foreign financial accounts with an aggregate value of $10,000, at any point in the tax year, to file Form TDF 90-22.1, to declare their overseas funds.  This allows the IRS to ensure the interest generated from these assets is being taxed in the United States.  Form TD F 90-22.1, a Report of Foreign Bank and Financial Account (FBAR), is due before June 30 of the succeeding year, with no allowed extensions. Penalties for not filing the TD F 90-22.1 are up to 50% of the highest annual balance of each account for each of the last 3 years.  The 50% penalty is imposed annually and therefore can wipe out the account entirely, with the taxpayer still owing taxes and interest. 

To allow taxpayers to come out of hiding on their own free will, the IRS enacted an amnesty program beginning April 2, 2009 - October 2, 2009, extended to October 31, 2009.  Under this program, the IRS will reduce the penalty to 5-20%, depending on whether the wealth was inherited and the IRS will levy the penalty just once, on the highest balance in the accounts over the last 6 years.  Although the amnesty program is cumbersome and requires filing additional forms and amending tax returns to pay the tax on interest earned in these foreign accounts (as well as interest and late filing penalties on the tax), the number of participants has been overwhelming. 

Let’s look at an example of a taxpayer who’s in the 35% tax bracket and has had a foreign financial account for six years and the highest balance over those six years was $1.3 million.  If this taxpayer came forward, they would pay $386,000 plus interest which includes tax of $105,000 – ($50,000 in interest income * .35) * 6), an accuracy-related penalty of $21,000 -- $105,000 * .2) and an additional penalty, in lieu of the FBAR and other penalties that may apply of $260,000 -- $1,300,000 * 20%.  While that seems like a lot, this same taxpayer could owe up to $4,481,000 if they did not come forward -- $2,306,000 in tax, accuracy-related and FBAR penalties and up to $2,175,000 in FBAR penalties for willful failure to file complete and correct FBARs.

Realizing this, a staggering 14,700 Americans, with assets hidden in more the 70 countries made a run for home base with their hands in the air.  (A normal year averages fewer than 100 taxpayers.) And although this outpouring does not relieve UBS of handing over the names of the American account-holders, the number of Americans playing the game has become quite apparent.  This isn't the first time the IRS has offered amnesty programs to lure those out of hiding, but this is the first time the Justice Department and the US Government used its bullying on the playground to force UBS to hand over the names of those playing.  Is this just the start of more to come?

Internal Revenue Service Commissioner Douglas Shulman was quoted as saying, "The whole game around bank secrecy, around offshore (tax) evasion is changing."  Tag…you're it.

Looking for tax planning assistance in Cleveland or Akron? Contact Skoda Minotti at 440-449-6800 or visit our web site.
 

In today’s economy, it is crucial to keep good tenants. The following nine points will help you maintain maximum occupancy in an uncertain environment:

1. Understand the tenant’s business. Research their industry so you can credibly talk about their business, and make them feel that you understand their concerns in today's economic conditions. 
2. Respond reasonably to rent relief or downsizing. This entails a two-step process consisting of listening to the request, and then formulating a personal response within three days. Establish limits to these requests and button down your parameters. If the tenant is downsizing, request their financials or tax returns to understand that their current financial position warrants this action. Make sure not to open the floodgates to requests every month, however.
3. Happy tenant employees means happy tenants. This is as easy as keeping the common areas clean and neat.
4. Go green, well. Reducing the amount of water or soap could get employees irritated. Also, automatic motion lighting in conference rooms or offices could be more of a hassle than a money saver, whereas they may work well in a hallway or a closet. Find other ways to go green that will help the environment and not hinder employees. Also, watch individual tenant leases when attempting to pass-through Green costs.
5. Follow up with tenants. Make sure to follow up with your tenants on a timely basis. There is a difference between "quick response" and "at their beck-and-call."
6. Be consistent with responses to tenants. Tenants talk to each other. Tenants get angry when your message is not consistent, whether it be costs, timing of an event (like cleaning), rent relief, management deferred maintenance plan, etc.
7. Tightly manage your broker’s promises. The easiest way to do this is to make sure that the broker and the property manager are on the same page - enforce constant and effective communication. Understand what the broker wants or needs so you can deliver. Also, promising occupancy before the tenant has signed the contract can get you into trouble - never anticipate a tenant's intentions until it is in writing. 
8. Keep current with billing. Tenants need predictability for cash flow purposes. Keep them updated and give them an estimated time frame when to expect the invoice if it will be late. Consider personally communicating changes in pass-through estimates each year - tenants appreciate the personal touch and the advanced notification.
9. Be strong, be fair, be smart. Remember that retaining the tenant may not be in the best interest for both parties involved. Also, don’t give up too easily, but if it is clear the tenant will not make it financially, come to an agreement. If the lease is more than 10 years old, update the lease to the way the property is operated today. Items specific to the lease that could have changed are holidays, weekend hours of operation, pass-through costs, timing and collection of rents; prohibited activities, sub-leasing, etc.

***This summary was based on a webinar from the members-only section of the NAIOP website. Most of the points have been modified pursuant to the blogger's experience.

Looking for a Cleveland or Akron accounting firm that provides services to the real estate industry? Contact the Real Estate and Construction Group at Skoda Minotti at 440-449-6800.

What did Picasso’s paintings look like when he was only halfway finished? How did Michelangelo’s “David” look like after the first few chisels? How livable is a house after the frame has been erected, but no interior work has been done?

A valid answer to all of the preceding questions is, “Something different than the final product.” However, for financial experts who provide opinions on economic damages and other litigated matters involving calculated figures, current rules sometimes allow for previous non-submitted, and non-final, drafts of an expert’s report to be considered discoverable evidence. 

The review of draft iterations of an expert report is often considered to be a waste of time (and dollars) as such drafts often do not correctly capture all of the relevant information that was synthesized in the final submitted report. Oftentimes, the tactic of reviewing an expert’s draft reports is an attempt by an opposing attorney to discredit the expert or make the expert’s conduct appear improper in some way. Therefore, some attorneys will request that non-final draft iterations of reports be admitted as evidence and scrutinized, distracting the court from the analysis offered in the financial expert’s final, submitted opinion. 

This is akin to asking Phil Collins to stop all work on a song that he is still feeling his way through, releasing that song, and then asking him to defend its quality to the public and his fans. Not only is this unfair to Phil, but it is unfair to the music-listening public, who expect a polished, quality product that Phil would be willing to stand by. 

In a recent article by Thomas Hilton, MS, CPA/ABV/CFF, ASA, CVA in Financial Valuation and Litigation Expert, a highly-regarded publication in the business valuation and litigation support field, Mr. Hilton discussed that relief for this problem may be on the way. The Committee on Rules of Practice of the Judicial Conference of the United States (Committee) recently proposed amendments to the Federal Rules of Civil Procedure that would shield draft expert reports from discovery. If the proposal makes its way through the necessary channels without any holdups, this relief could come as soon as December 1, 2010. 

As part of the community of financial experts, we hope that relief from the proposals highlighted above (which have been backed by the AICPA) comes swiftly. Primarily, we believe that these proposals will force courts to focus on the merits of an expert’s submitted opinions rather than the potentially unfinished and in-process analysis that is present in draft reports.

Need assistance with a litigation matter? Contact our Litigation Advisory Services Group at 440-449-6800.

Topics: Litigation Advisory Services, Cleveland Business Advisors, Akron Business Advisors, Akron Business Consultants

Sports Sponsorships – Inside the Lines

With the economic downturn hitting the sports world just as hard as any other business – just ask the hometown Cleveland Indians – teams are looking to squeeze out any extra bit of possible revenue.

Walk into any professional sports stadium today and you’ll immediately be bombarded by advertising in a variety of different formats. In fact, it might seem that you see ads everywhere except for on the field. That is, unless you attend certain NFL training camps this summer.

The NFL now allows teams to sell sponsored space on their practice jerseys and many teams are taking advantage. Could game day jerseys be the next item up for bid?

While the idea of our major professional sports teams wearing sponsored jerseys may seem strange to American sports fans, European sports have been embracing this concept for quite some time and for great financial gain. Last season, jersey sponsorships across Europe’s top six soccer leagues accounted for 393.2 million euros ($561 million).

These types of revenue figures could sound more and more appealing to our major sports leagues in the near future. What are your thoughts on jersey sponsorship? Let us know with a comment below.

Looking for “out-of-the-box” thinking from your marketing efforts? Contact Skoda Minotti Marketing Services at 440-449-6800 for more information.

Topics: Akron Marketing Services, Cleveland Marketing Services

"Pay-Per-Click," or PPC,” is a method of online advertising that's measurable, flexible and very fast. PPC ads are paid listings that appear above and to the right of the free listings on Google, Yahoo, and other search engines. To be listed in a search engine’s PPC’s results you pay/bid in an auction like manner. With PPC you only pay for the ads that are clicked on, so in addition to being able to quickly, measure the effectiveness of your ad, you can also track and justify your results and costs.
 

For example, in the illustration above, someone in need of financial services, presumably in the Cleveland area, searched on Google for “Cleveland financial planning services”. This screen shot shows the first four choices and links that are available from about 614,000 results. In looking at the PPC results on the right, the folks that own www.USdirectory.com, have the highest PPC position, probably paid the most to be there, and by virtue of top positioning are probably most likely to get clicked by the searcher. If someone does click on the ad, US Directory.com, will then pay what ever their cost per click bid was. If the searcher elected to click on the second sponsored link, “Cleveland Financial”, Skoda Minotti, (it’s our ad and we are not ashamed to pimp it) would pay.

The important difference to remember when looking at PPC vs. other kinds of paid advertising is that you don't pay until someone clicks. So while in a TV or radio campaign, you pay for all the eyes and ears (i.e., impressions) that could potentially see and/or hear your message. With PPC, you only pay for those that are actually interested in your company. The impressions, while still valuable from an awareness standpoint will cost you nothing.

Looking for a Cleveland Marketing Consultant? Contact Skoda Minotti Marketing Services at 440-449-6800.

Topics: Akron Marketing Services, Cleveland Marketing Consultant, Cleveland Marketing Services

That’s right. State officials now say that California’s financial situation is so serious that many taxpayers may receive IOUs instead of refunds for state taxes. Warnings of delayed tax refunds and warrants started as early as January, 2009. 

The State of California is planning on issuing warrants instead of refund checks. A warrant is issued by a government agency when they are unable to pay currently and are redeemable at some point in the future, usually with interest. Only once since the Great Depression has the State of California had to issue warrants. 

California is entering the 2009-10 fiscal year on July 1 with a deficit of nearly $24 billion. State tax revenues have fallen 27 percent in the past year. In February, the State passed a budget, but the legislation was dependent on the passage of several ballot propositions that were rejected by voters in May. 

Other than arranging for a smaller tax refund, which is too late for most, is there anything a taxpayer can do in this situation?

Individuals working in California can choose to have their refunds applied to next year’s taxes and then request lower wage withholdings. Business can also choose to apply to next year’s taxes and reduce subsequent year’s estimated tax payments.

Some reports cite the recession will last longest in the Midwest, including Ohio. Although officials in Ohio have not discussed issuing warrants, both individuals and businesses should minimize tax refunds in case this happens here in Ohio.

Click here to learn more about Skoda Minotti’s tax planning and preparation services or contact us at 440-449-6800.

Topics: Akron Tax Accountant, Cleveland Tax Accountant

This week is our final update in our series on the changing rules and regulations and their impact on employee benefit plan audits.

This week’s topic:

2009 Cost of Living Adjustments for Qualified Retirement Plans

The Internal Revenue Service announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2009.

Click here for more of this article.

Looking for assistance with your benefit plan audit? Contact the CPA’s business and financial advisors at Skoda Minotti at 440-449-6800.

One unique service we offer to clients is the ability to compare our client to their industry benchmarks.  Our external benchmarking tools are tailored to our clients and their specific industries.  We can generate benchmarks based on revenue size, geographic region, North American Industry Classification System (NAICS) codes, and also both public and private companies.  The service compares a number of financial metrics, and provides explanations and guidance as to variances your company has versus the industry.

These tools provide us, as business advisors, an ability to consult with our clients year-round and also allow us to prepare both short-term budgets, and long-term projections and forecasts.

This service maintains client data anonymously and confidentially, and has been approved by our business partner, BDO Siedman.

Are you looking for industry benchmarks?  Contact Paul Etzler at 440-449-6800.

Topics: Akron Business Advisors, Akron Business Consultants, Cleveland Business Advisors

“Corporate Vigilance in Desperate Times” was the title of a presentation I made to a group of corporate controllers on behalf of the Ohio Society of Certified Public Accountants.

It’s hard not to pick up a newspaper these days and see dismal economic results. The next article discusses employee layoffs. “Happy Days Are Here Again” will not be heard on your car radio on the way home. And once home, chances are that you don’t want to look at your stock portfolio or 401k statement that came in the mail. 

Many employees are scared. Financial pressures are fierce. A spouse may have been laid off thus crippling the family cash flow. Retirement, carefully planned for years, may now have to be delayed since the market has halved your nest egg. With foreclosures at record numbers not seen since the Great Depression, many must evaluate whether they can provide a house for one’s family?

In troubling times such as this severe economic downturn, the opportunity is ripe for fraudsters to shake cash from unsuspecting companies. Companies must be more vigilant than ever to protect their financial resources.

Unfortunately, we have become aware of some companies cutting jobs within accounting departments and as a result potentially compromising their internal controls – controls vital to not only good financial reporting, but safeguards in general to the overall corporate assets.

Is there a correlation between a downturn in the economy and an increase in fraudulent acts such as embezzlement? Sure there is. In larger corporations there is intense pressure to “make the numbers” thus resulting in tempting financial statement crimes.

Eliminating staff in an accounting department will usually reduce the effectiveness of established internal controls.   Less effective internal controls is an invitation for embezzlement. And don’t think that the thieving opportunist doesn’t recognize the void suddenly created. 

The CPAs, business and financial advisors in Skoda Minotti's Real Estate and Construction Group recently authored an article for Builders Exchange Magazine.

The article summarizes some important accounting and tax provisions that construction professionals need to keep in mind. The article highlights the American Recovery and Reinvestment Act, the Energy Policy Act of 2005, qualified rehabilitation and low income housing tax credits.

To view this helpful article, click here.

Looking for a Cleveland or Akron accounting firm that provides services to the construction industry? Contact the Real Estate and Construction Group at Skoda Minotti at 440-449-6800.

Hello, and welcome to the first blog entry from the Skoda Minotti Real Estate and Construction Group!  We are excited to roll-out our new website, and will periodically bring you up-to-date on recent events, changes in market conditions, educational opportunities, tax-savings tips… anything that can help you in your real estate or construction business.  We strive to connect you and your business contacts to our real estate and construction world.

We encourage you to browse through our Real Estate and Construction Group website.  Here are a few highlights of our group: 

• While many of our clients originate from Northeast Ohio, we service clients from Florida to Pennsylvania to California;
• Each member of our Real Estate and Construction Group team averages 25 hours of education in this industry sector each year;
• We are very active in numerous professional and trade organizations, including BOMA, ABC, SAO, CREW, AHACPA, CFMA, OCA, OLTA and NAIOP;
• Our tax and accounting CPA’s often contribute articles to various publications that support real estate and construction professionals;
• We deliver value-added services everyday by connecting our clients to our vast networking directory - this includes bankers, attorneys, sureties, architects, appraisers, sub-contractors, grant writers, and marketing specialists - anyone that can help you succeed in business