Small Business Services

This month's Special Delivery includes:

• Update Your Email Preferences
• Key Tax Elections on 2012 Returns
• A "Perfect Storm" of Tax Deductions
• New IRS Program for Misclassified Workers
• Obama Signs Cybersecurity Executive Order
• Free Life Sciences E-Book: Delivering the Right Message Throughout the FDA Approval Process
   

Update Your Email Preferences

As business advisors, we want to make sure we are providing our clients and business contacts with messages and updates relevant to your individual and/or...

October 25, 2012 – CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm, is pleased to announce a partnership with educational and micro-finance organization, Bad Girl Ventures (BGV). The partnership helps provide teaching and one-on-one coaching assistance for aspiring business owners and entrepreneurs in the Cleveland and Akron areas.

The Bad Girls’ nine-week fall session started in September, and has been meeting regularly at the University of Akron, Lakewood. Teaming with...

Form 1099-MISC: Miscellaneous Income is used for reporting certain payments made in the course of your trade or business.  Personal payments are not reportable.

When is Form 1099-MISC required?

Businesses or self-employed individuals will need to fill out a Form 1099-MISC for persons, vendors, subcontractors, independent contractors, and others in the following circumstances:

$600 or more per year is paid for:

• Cash payments to fish or other aquatic life you purchase from anyone engaged in the trade...

According to the American Payroll Associations' article, Spring Cleaning Your Payroll Records: IRS Rules, after finishing year-end payroll processing, it is a great time to clean up old files.  Which records can you destroy, and which records must you retain?  The Internal Revenue Code (IRC) requires all employers that withhold and pay federal income, social security, and Medicare taxes to maintain certain records for each employee.  Failure to meet these requirements can result in sizable...

November 28, 2011 – CLEVELAND – Skoda Minotti, a CPA, business and financial advisory firm, is proud to announce that Michael Trabert, CPA, CVA, CMAP, CEPA recently earned the Certified Exit Planning Advisor (CEPA) designation, after completing the Institute’s intensive CEPA program. With this designation, Trabert joins an exclusive group of business advisors worldwide who have received this credential.
 
Leading Skoda Minotti’s Exit Planning Services Group, Trabert helps clients by creating a...

Join area business professionals at the Skoda Minotti office as we continue our monthly audio book discussion with the help of David B. Rust, President of Audio Group, A business audio book club for time-starved people.

September's featured audio book: The 4-hour Workweek - by Timothy Ferriss

Meeting Details

Date: September 6, 2011

Time: 7:30-9:00 a.m. - A light breakfast will be provided

Location: Skoda Minotti Office, Mayfield Village, Ohio

Cost: $45 per session

Meeting Facilitator: David B....

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...

Per the American Payroll Association, the Treasury Department has announced that, as part of a three-pronged initiative to reduce the amount of paper transactions it handles, most employers that now are allowed to use paper Federal Tax Deposit Coupons and checks to make payroll tax deposits will have to make those deposits electronically through the Electronic Federal Tax Payment System (EFTPS) beginning in 2011. The primary exemption will be for employers that have $2,500 or less in quarterly...

Reform to the health insurance systems will offer an immediate benefit to small businesses via tax credits starting this year, rather than burden them with continually rising health insurance premiums. 

• In 2010, small business owners will be receiving up to 35 percent of the employee premiums they pay. 
• In 2014, the maximum tax credit will increase to 50 percent.  This will allow small business owners to seek plans through health insurance exchanges.  These exchanges are a marketplace where small...