Firm News

CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm, has once again been named a World Class Customer Service award winner, as presented by Smart Business Magazine. With this year’s award, Skoda Minotti became one of only four companies to have won this award in each of the five years since its inception.

“At Skoda Minotti, a key component of our firm’s vision is to create a culture of continually improving client service,” says Skoda Minotti partner, Mike Trabert, CPA. “This...

CLEVELAND – Now in its 19th year, the Lake-Geauga Fast Track 50 Award will once again recognize the 50 fastest growing companies in Lake and Geauga Counties. Winners of the award will be based on average sales and employment growth from 2006 through 2010. This year’s nomination form can be found online at: www.fasttrack50.org.

To be eligible to receive the award, companies must be located in the two-county region, be organized as a for-profit business, and must have a sales profit for 2006 of, at...

CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm with offices in Cleveland and Akron, has been named a recipient of the 2011 Leading EDGE Award. Presented by Crain’s Cleveland Business and The Entrepreneur’s EDGE, this award recognizes companies that have consistently generated value to the Northeast Ohio economy over the past three years.

Uniquely positioned to provide business and financial advisory services to companies of differing sizes and industries...

Reduced Taxes for Exporters Extended: Are You Taking Advantage of the IC-DISC?

Does your Company export goods to Canada, Mexico, or other countries?  Do you provide engineering, architecture, or design for property constructed outside the United States?  If so, you may be eligible for a Federal income tax incentive known as an Interest Charge Domestic International Sales Corporation (the "IC-DISC").  The IC-DISC could potentially save you a significant amount of US income taxes.

Click here to...

CLEVELAND – Skoda Minotti is pleased to announce an educational not-for-profit seminar, featuring nationally recognized not-for-profit expert Dick Larkin, as well as other industry experts, on June 21, from 7:45-11:30 a.m. at 700 Beta Banquet and Conference Center in Mayfield Village. The seminar is free-of-charge.

Larkin is the Technical Director for Not-for-Profit accounting and auditing for the Institute for Nonprofit Excellence in the Washington, D.C. office of BDO USA, LLP. Previously he was...

CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm, with offices in Cleveland and Akron, has recently received federal and state recognition for demonstrating leadership and policies that support employee participation in the National Guard and Reserve. Doug Lundblad, client network engineer in Skoda Minotti’s Technology Services Group, serves as First Sergeant for Company B, 1st- 145th Armor Regiment of the Ohio Army National Guard.

On a national level, the firm has been...

CLEVELAND – Skoda Minotti’s Professional Staffing Group is pleased to announce that it has expanded its professional staffing services. The group now provides services for contract, direct hire or term-to-hire positions, ranging from staff level to C-level executives, within the following areas of specialization:accounting and finance, C-level executives, engineering, human resources, information technology and sales and marketing.

Leading the newly expanding service offerings is Andrew Devore, a...

This month's Special Delivery e-newsletter includes the following articles:

• New Law Extends Favorable Capital Gain Rules
• How to Help Pay for College Education
• The Wrap-up for Wrap Fees
• Aurum Capital Markets Summary
• Repeal of Expanded 1099 Requirements
• Audio Book Club
• College Planning
• Advisor Insights Video Archive
• Delivering on the Promise

New Law Extends Favorable Capital Gain RulesThe tax rules for offsetting capital gains and losses can be confusing, even for experienced investors. Saving grace: The...

April 13, 2011 – CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm with offices in Cleveland and Akron, is pleased to announce that Robert D. Coode has been appointed to the Lake Health Foundation Board of Trustees.

Lake Health Foundation is the philanthropic affiliate of Lake Health. On behalf of the health system, the Foundation accepts contributions of cash and appreciated property. Donations are used to enhance patient care, including the support of projects that improve...

CLEVELAND – Skoda Minotti is pleased to announce one new hire to its Small Business Services Group:
Alexandra Goodrich – Goodrich joins the firm as paraprofessional in Skoda Minotti’s Small Business Services Group. In this role, she will provide outsourced bookkeeping support for the Kidney Foundation and Epilepsy Association in Cleveland, Ohio. Goodrich also currently works as bookkeeper for the Lake Humane Society.

Skoda Minotti’s Small Business Services Group assists small- to mid-size...

This month's Special Delivery E-Newsletter includes the following articles:

• Fourth Annual Survey of Northeast Ohio Real Estate and Construction Industries
• Significantly Reduce Your Not-for-profit Audit and Tax Expenses
• Stay Within Charitable Deduction Boundries
• Roth IRA Conversions: Time to Decide
• New Estate-tax Relief: It's Complicated
• Aurum Capital Markets Summary and New Web Site
• Does Your Business Have an Ohio Use Tax Account
• April Audio Group - Audio Book Club Meeting
• College Planning One-on-One...

This month's Special Delivery E-Newsletter includes the following articles:

• Key Provisions in the New Tax Act
• What Business Entity is Best for You?
• Tax Breakdown of Interest Expenses
• Summary of Key Tax Changes for 2011
• New Tax Relief Act Creates Dramatic Gifting Opportunities
• Many Smaller Employers Will Have to Use EFTPS for Payroll Tax Deposits
• Aurum Capital Markets Summary
• Understanding the Energy Efficient Deduction
• College Planning
• Audio Book Club

Key Provisions in the New Tax Act

The recent tax...

Skoda Minotti and CLS Facility Services are inviting local building owners to join them on Friday, February 11, 2011 to learn more about the energy efficient tax deduction and receive an estimate of possible individual tax savings.

The seminar will cover the following:

• Potential energy cost savings for buildings larger than 20,000 ft2
• General lighting knowledge
• Government regulations on mandatory phase-outs of non-energy-efficient lighting
• Lighting product replacement schedules
• Lighting product...

This month's Special Delivery E-Newsletter includes the following articles:

• Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
• Year-End Tax Planning Letter for Individuals
• Year-End Tax Planning Letter for Businesses
• What Are the Benefits of Buy-sell Agreements?
• Don't Miss Out on Above-the-line Deductions
• Keeping Records for Your Business Car
• Aurum Capital Markets Summary
• R&D Tax Credit Extended for 2010 and 2011 Calendar-year Expenses
• IRS Increases Business Mileage Rate to...

December 20, 2011 – CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm, is pleased to announce that Michael Trabert, CPA, CVA, CMAP, a partner with Skoda Minotti’s Transaction Advisory Services Group has recently earned the Chartered Merger & Acquisition Professional (CMAP) credential, awarded by the Middle Market Investment Banking Association (MMIBA) and endorsed by the National Association of Certified Valuation Analysts (NACVA).

MMIBA is an organization established to...

CLEVELAND - Joseph F. Skoda, CPA, a partner at CPA, business and financial advisory firm Skoda Minotti, recently became the first member of the Ohio IRS Tax Liaison Panel to be re-elected for a second two-year term. Skoda is joined on the 28-member panel by fellow Skoda Minotti partner Steven C. Hartstein, CPA, JD.

The panel meets with the management of the IRS and the Ohio Department of Taxation four times per year and is responsible for helping the taxing authorities identify systemic problems...

CLEVELAND - ABC’s Emmy-award winning show, Extreme Makeover: Home Edition (EMHE), recently chose Cleveland-based, business advisory firm, Skoda Minotti to provide technology support at the site of its most recently aired home-building project for the Anderson family. In the episode, which aired on Sunday, December 5, 2010, Skoda Minotti’s Technology Services Group, along with EMHE crew members and over 1,500 local volunteers, worked around-the-clock for one week to demolish, design and rebuild a...

2010: The Right Time to Convert to a Roth?

2010 offers a unique opportunity for high-income individuals to convert their 401k to a Roth IRA.

As you may know, Distributions from a traditional IRA are generally taxed at ordinary income rates currently reaching as high as 35%. (Future tax rates are currently scheduled to rise.) The taxable portion includes earnings within the tax-deferred account and amounts attributable to deductible contributions.

Conversely, "qualified distributions" from a Roth...

2010 Small Business Jobs Act: How Small Businesses Will be Affected

The recently enacted 2010 Small Business Jobs Act includes an assortment of changes for small businesses. Listed below are several, but not all, of the tax breaks and incentives, as well as the offsets (revenues and raisers) of the new law. For more details on these changes, click here.

Tax Breaks and Incentives
- Enhanced small business expensing
- General business credits of eligible small businesses for 2010 allowed to be...

Deciding About a Roth IRA Conversion

Before you know it, the end of the year will be here. For many individuals contemplating a conversion from a traditional IRA to a Roth IRA, it is time to make some critical decisions.

Click here to read more.

Hiring Your Child: Answers to Tax FAQs

Suppose that your child needs an after-school job while your company is looking to hire extra help. Practical solution: If you are in a position of authority, you could put your child on the payroll.

There are several...