Cleveland Real Estate Accounting

“Know something not everybody else knows.”
– Bill James, baseball writer, historian, statistician

Moneyball is a movie based on a book by Michael Lewis about the 2002 Oakland Athletics baseball team.  It is the classic underdog story mixed with statistics, a different way of thinking, and, of course, Brad Pitt for the ladies.  It was just nominated for six Oscars last month, including Best Picture.

Even though the movie takes poetic license with the story (as it really does not cover the top three...

Don’t forget to check out part one (keyword selection), part two (keyword traffic estimation) and part three (ad creation). 

Now that you’ve created your first ad, you’re not quite finished with your ad group. Google AdWords gives you the capability to test out multiple versions of your ad and see which version performs the best. Slight changes to the wording of you ad can make a big difference, so do not hesitate to try several different versions.

Here’s a sample ad group report and some...

Your company will need a specific SOC Report based on the type of client information it controls. Here is more information on each type of report

SOC 1 Report: (Also known as SSAE No. 16) 

• The SOC 1 is a report on controls at a service organization relevant to user entities’ internal control over financial reporting.
• These reports are prepared in accordance with the AICPA Statement on Standards for Attestation Engagements no. 16 (SSAE no. 16).
• Contents of the Report:
  • Description of service...

This month's Not-for-Profit Update includes:

• Predicting the Impact of Changing Tax Treatment of Charitable Contributions
• Payroll Audit Updates                
• The Age of Nonprofit Mergers is Upon Us
• The Case of Exempt Organizations in the Tax Reform Debate
• New District of Columbia Nonprofit Corporation Act
• Executive Compensation: Did We Do All The Right Things?
• The IRS Issues Guidance on Tax Treatment of Cell Phones and Provides Recordkeeping Belief 
• More Changes and Debate Over the FASB's Proposed...

CLEVELAND – Skoda Minotti has been selected as one of the most successful companies in Northeast Ohio by Inside Business Magazine. The publication has been awarding its NEO Success Awards, based on revenue and employment growth, since 1994.  This will be Skoda Minotti’s sixth recognition for this honor.

“We’re honored to be named winners of this prestigious award, among so many of our clients,” said Skoda Minotti chairman Greg Skoda. “Our goal is to continue delivering on the promise of new and...

This month's issue of Employee Benefit Plan Commentator includes the following articles:

• Final Fee Disclosure Regulation Issued
• 408(b)(2) Final Regulation- Reall it's Final
• There's More to Come - Participation Disclosures
• Remember your Fiduciary Responsibilities

Final Fee Disclosure Regulation Issued

In the Fall 2011 Edition of the EBP Commentator, we helped navigate you through the new and upcoming fee disclosures.

With the final regulations under ERISA §408(b)(2) disclosure rules just released by...

“Investment is an activity of forecasting the yield on assets over the life of the asset… speculation is the activity of forecasting the psychology of the market.”     – John Maynard Keynes

After stealing the headlines last fall, it seems most people became exhausted with Europe’s debt problems.  The European Central Bank’s (ECB) Long Term Refinancing Operation (LTRO) provided a strong helping of liquidity to the sovereign debt markets, giving global markets a sigh of relief, and alleviating some...

This month's Special Delivery e-newsletter includes:

• Payroll Tax Cut Extension
• IRS Reverses 1099-K Reporting Rule
• New Strategic Marketing Website and E-Book Available
• Take Tax Credit When They Are Due
• Locking in Deductions for Mortgage Interest
• How to Reduce Employee Turnover
• Ohio Construction Reform is here
• IRS Issues Guidance on Work Credit for Hiring Veterans
• Join the 123 College Facebook

Payroll Tax Cut Extension
 
Although not signed into legislation just yet, the Senate and the House have both...

This month's issue of Valuation & Litigation Advisory Insights includes the following articles:

• Reality TV and Related-Party Transactions in Litigious Valuation Engagements
• Boltar Illustrates the Dangers of Expert Advocacy
• Poking Holes in Your Damages Case

Reality TV and Related-Party Transactions in Litigious Valuation Engagements
By Sean R. Saari, CPA/ABV, CVA, MBA

My wife loves “reality” TV shows - Big Brother, Survivor, The Bachelor, The Apprentice, pretty much any show on Bravo, and the list goes...

The Ohio Attorney General’s Office has introduced a new online registration system for charities that solicit in the state.  The new system, introduced December 1, 2011, will streamline annual filings and enhance transparency and accountability within the charitable sector. 

Soon, all filings will be completed online through the new charitable registration system.  The new system will eliminate the need for paper forms, more accurately determine required fees and make reporting requirements in...

Just when you may have thought your compliance and security needs are taken care of; out comes another aspect of compliance and security to worry about: HIPAA Compliance Audits. HIPAA audits have evolved, and now must fulfill requirements of Section 13411 of the Health Information Technology for Economic and Clinical Health Act (HITECH Act) to cover new concerns for medical records. These HITECH requirements ensure that covered entities and their business associates are in compliance with the...

Captive insurance companies are often owned by a large sophisticated financial entity, because there are minimum net worth and other regulatory requirements.  In many cases, the regulatory authority will accept a letter of credit in lieu of an actual cash investment for the initial capital requirements of the captive.  This results in “GAAP exception” financial reporting but is perfectly acceptable to the regulator.

Normally, single sponsor captives are wholly-owned subsidiaries and are included...

If you have been working a long time, you may be looking forward to retirement in the not-so-distant future. Hopefully, you will be in good health at that time and able to pursue your favorite activities.

But the “golden years” may be tarnished if you are not careful. Here are five common mistakes that can hinder your ability to retire comfortably and securely.

1. You are overburdened with debt. Owing money is not necessarily fatal to a happy retirement. But credit card debt with high interest...

Note: Click here to view the new Skoda Minotti Strategic Marketing website.

So after admiring the Skoda Minotti brand all these years, you may be asking yourself “Hey, what’s with the blue? “Isn’t your brand color green?”

Great question and the answer is: Yes…until now. 

Skoda Minotti, like all growing companies, is evolving and as we evolve our brand needs to evolve with us.  Although you may know Skoda Minotti more as a CPA firm, we really are a business advisory firm, offering such services as IT...

This month's Special Delivery e-newsletter includes:

• New Marketing Website Coming Soon, New E-Book Available Now
• Recent Developments That May Affect Your Tax Situation
• Alternative Minimum Tax: Now It's Personal
• How to Maximize Estate-tax Exemptions
• How to Swing a Like-kind Exchange
• A Quick Guide to Quickbooks in the Cloud
• Join the 123 College Facebook Page

New Marketing Website Coming Soon, New E-Book Available Now

Keep an eye on your inbox, because in just a few days, we'll be announcing the launch of...

Don’t forget to check out part one (keyword selection) and part two (keyword traffic estimation). 

Now that you’ve selected targeted keywords for your AdWords campaign, it’s time to start creating your ads. Google has a specific set of character limits that you must follow in each of your ads –

Title (Blue underlined text): 25 characters

Ad Text: 70 characters

Display URL (Green text): 35 characters

There are also a set of parameters around your ad content including:

• User experience
• Accuracy
• Legal...

This month's issue of Valuation & Litigation Advisory Insights includes the following articles:

• Intangible Assets – If I cannot See Them, What Are They?
• What is the value of intellectual property
• The perfect exit strategy: Don’t leave it to chance

Intangible Assets – If I Cannot See Them, What Are They?

“All arguments concerning existence are founded on the relation of cause and effect.” - David Hume

In the quote above, David Hume, a famous philosopher, says that the basis of existence is founded in...

Tax qualified retirement plans are required to hold employer and employee contributions in an irrevocable trust, which is separate from the employer’s funds.  ERISA, which governs these programs, creates various types of legal liability for a plan’s fiduciaries.   Department of Labor penalties and litigation from plan participants can arise, and can be brought against an individual fiduciary.  The issue of who is or is not a fiduciary is not determined solely by a person’s title.  

ERISA’s...

This spring, companies who sponsor 401(k) plans can expect their inbox to be full of new information.  The Department of Labor’s plan fee disclosure rules are set to take effect April 1, 2012.  Service providers of 401(k) plans will then be required to provide employers with figures for the direct and indirect compensation they receive to service plans.  They will now need to disclose recordkeeping fees separately from all other fee disclosures. They also must detail indirect compensation, such...

“All arguments concerning existence are founded on the relation of cause and effect.” - David Hume

In the quote above, David Hume, a famous philosopher, says that the basis of existence is founded in cause and effect.  Cause and effect is simple to picture for tangible objects – if I cause my finger to type a letter on the keyboard, that letter shows up on my computer screen.  It becomes a little more difficult to picture cause and effect with intangible things – if I greet a stranger on the...