CPA & Business Advisory Blog

Special Delivery: October 2012

This month's Special Delivery e-newsletter includes:

Lessons Learned from Sandy:  Is your Business Prepared to Weather the Storm?

Nearly all businesses rely on email communication or applications to keep their enterprise running. That’s why a major storm and resulting power event, such as Sandy, can be so devastating.

With the recent outages and business disruptions, now is the perfect time to take a look at your business continuity and disaster recovery plan, and consider cloud computing solutions as part of it.

Click here to read a recent blog about SANDY: The power to make you consider private cloud computing.

Business Valuation Basics E-Book:  What to Consider When Considering a Business Valuation

Considering business valuation for your business? After reading this e-book, you'll have a better understanding of some valuation basics, including:

  • Calculation of Value vs. Conclusion of Value
  • Business Valuation Credentials
  • The Dangers of Relying on Rules of Thumb
  • The Development of Valuation Reports
  • Business Valuation Procedures

Click here to download our free valuation e-book.

Coping with the New 3.8% Medicare Surtax

Beginning in 2013, a new 3.8% Medicare surtax will apply to investment income received by certain high-income taxpayers. The tax law provision authorizing this surtax was included in the Patient Protection and Affordable Care Act of 2010 recently upheld by the U.S.. Supreme Court.

Click here to read more about the tax strategies you can use in 2012.

Glad Tidings for Year-end Gifts

Due to recent tax law changes, you may want to give generous gifts to family members this holiday season. The gifts can reduce the size of your taxable estate.

Click here for a brief overview of the basic tax rules.

Social Security Wage Base Increases to $113,700 in 2013

The Social Security Administration (SSA) announced this month that the 2013 social security wage base will be $113,700, an increase of $3,600 from the 2012 wage base of $110,100. As in prior years, there is no limit to the wages subject to the Medicare tax; therefore all covered wages are still subject to the 1.45% tax. Wages paid in excess of $200,000 in 2013 will be subject to an extra 0.9% Medicare tax that will only be withheld from employees’ wages. Employers will not pay the extra tax.

Can the Corporate Veil Be Pierced?

There are several possible reasons why you might incorporate a business. One of the main advantages unrelated to taxes is the protection of the “corporate veil” (also known as the “corporate shield”). Under this basic principle of law, a business owner cannot be held personally liable for the debts and obligations of the corporation. Nevertheless, be aware that the corporate shield is far from invincible.

Click here to learn more about protection from liability.

Skoda Minotti Acquires Lomax, Soful & Foster of Akron

We are pleased to announce that we have completed the acquisition of Lomax, Soful & Foster, a CPA firm located in Akron, Ohio. This firm has been providing accounting, tax and consulting services to Akron companies since its founding in 1929. All employees of Lomax, Soful & Foster have joined Skoda Minotti’s Akron office, located at 3875 Embassy Parkway, Suite 200, Fairlawn, OH.

Click here to read more about our recent acquisition.

Technology Partners Launch Skoda Minotti Private Cloud

We know that most small- and mid-sized businesses are considering moving some or all of their data into “the cloud”. And, we also know that those same businesses have concerns about the location, security, support and control of their data once they store it in some untouchable, virtual environment.

Understanding your needs and concerns, Skoda Minotti Technology Partners have developed a cloud solution built just for businesses like yours – The Skoda Minotti Private Cloud.

Click here to read more about our new private cloud partnership with Blue Bridge Networks.

Or, click here to receive a free cloud assessment and let us help you determine which cloud services make sense for your business.

Skoda Minotti Flies Superman into Cleveland Hopkins Airport

Skoda Minotti's Strategic Marketing Group recently helped in the creation of a commemorative visual marketing exhibit at the Cleveland Hopkins Airport. Supporting The Siegel and Shuster Society, a nonprofit organization dedicated to commemorating the creation of Superman in Cleveland, Ohio by writer Jerry Siegel and artist Joe Shuster, a life-size, comic book-like exhibit will be on display by baggage carousel 10 from now on.

Click here to see pictures from and read more about our recent visual marketing project.

Delivering on the Promise to the Community

Skoda Minotti employees recently donated their time to Boys Hope Girls Hope, as part of our Community Connection project.

Click here to check out our latest Facebook photo album with more pictures from the event.

Skoda Minotti Partners with Bad Girl Ventures to Help Local Start-Ups

Skoda Minotti 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.

Click here to read more about BGV and what we're doing to help local entrepreneurs get their businesses started.

For more information on Skoda Minotti's CPA, business and financial advisory services, please leave a message below, or contact a Skoda Minotti professional at 44-449-6800.

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One Comment

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    Posted November 8, 2012 at 12:54 pm | Permalink

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