Financial Reporting Relief Continues for Private Companies

Posted on Thursday, May 1, 2014 by

Often, owners of private companies set up separate entities to hold real estate or other property for tax, estate planning or legal liability purposes.  Under such arrangements, the operating entity (lessee) will lease the property from the new entity (lessor).  Current U.S. Generally Accepted Accounting Principles (GAAP) requires the lessee to consolidate the lessor in […]

Also posted in CPA & Business Advisory | | Comments Off on Financial Reporting Relief Continues for Private Companies


Affordable Care Act Mandate: Updates to the 2015 Regulations

Posted on Tuesday, February 11, 2014 by

Final ACA regulations issued February 10, 2014 delay or reduce the employer mandate for all employers until January 1, 2016. On February 10, 2014, the IRS issued an 89 page final regulation on one part of the Affordable Care Act (ACA) that has been of particular concern to employers—the shared responsibility provisions. The shared responsibility provisions […]

Also posted in CPA & Business Advisory, Employee Benefits | | Comments Off on Affordable Care Act Mandate: Updates to the 2015 Regulations


Fraud: A “Red Flag” is a “Red Flag”

Posted on Monday, February 10, 2014 by

Be aware of fraud indicators, whether you are involved in a privately-held business, a publicly-held company or a tax-exempt organization. In a world with increasing fraudulent incidents, we must always keep our eyes open to potential fraud indicators or organizational anomalies that could lead to a misappropriation of business assets.  The fact that something seems […]

Also posted in Not-for-Profit, Valuation & Litigation Services | | Comments Off on Fraud: A “Red Flag” is a “Red Flag”


Fun Money or Bonafide Business Loss? What you need to know about hobby loss rules

Posted on Sunday, October 27, 2013 by

I have worked with many business owners over the years that are always showing losses on their tax returns, year in and year out. Every time I see these kind of results, I bring up the IRS and the "hobby loss" rules (Section 183 of the IRS Code). The IRS and their flagging systems easily […]

Also posted in Business Advisory Services, Firm News | | Comments Off on Fun Money or Bonafide Business Loss? What you need to know about hobby loss rules


Business or Hobby? Nine factors that determine your classification

Posted on Wednesday, October 23, 2013 by

I have worked with many business owners over the years that are always showing losses on their tax returns, year in and year out.  Every time I see these kind of results, I bring up the IRS and the "hobby loss" rules (Section 183 of the IRS Code). The IRS and their flagging systems easily detects […]

Also posted in Accounting & Auditing, Tax Planning & Preparation | | Comments Off on Business or Hobby? Nine factors that determine your classification


Department of Labor: No penalty for failure to provide required notices under Affordable Care Act

Posted on Wednesday, September 18, 2013 by

My last blog discussed a requirement under the Affordable Care Act (ACA) for all employers to provide their employees with written notification about the health coverage options that are available through the health care exchanges (also known as marketplaces) that were created under the ACA. The notice was to be issued to all employees no […]

Also posted in Accounting & Auditing, CPA & Business Advisory, Employee Benefits | | Comments Off on Department of Labor: No penalty for failure to provide required notices under Affordable Care Act


The Financial Reporting Nightmare is Over!

Posted on Wednesday, June 19, 2013 by

“Do we really need to report all this?  I have no idea what an ‘uncertain tax position’ means, or what relevance it has to my business and its financial statements.  Why do I need to consolidate a related party entity that owns the building of which my bank and I are fully aware?  I just […]

Also posted in Accounting & Auditing, Business Advisory Services, CPA & Business Advisory | | Comments Off on The Financial Reporting Nightmare is Over!


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

Posted on Thursday, October 25, 2012 by

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 […]

Also posted in Accounting & Auditing, Firm News, Information Technology, Marketing Services, Strategic Marketing | | Comments Off on Skoda Minotti Partners with Bad Girl Ventures to Help Local Start-Ups


Should You Be Filing Form 1099-MISC For Your Business?

Posted on Thursday, June 14, 2012 by

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 […]

Also posted in CPA & Business Advisory | | Comments Off on Should You Be Filing Form 1099-MISC For Your Business?


Obama Announces JOBS Act; Provides Small Companies With Access to Public Capital Markets

Posted on Monday, April 30, 2012 by

On April 5, 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law. The Act was approved by Congress in late March. A primary goal of the JOBS Act is to improve small companies’ access to public capital markets. The Act amends a number of provisions of the securities laws to ease […]

Also posted in Accounting & Auditing, Business Advisory Services, CPA & Business Advisory, Life Science & Innovation | | Comments Off on Obama Announces JOBS Act; Provides Small Companies With Access to Public Capital Markets


© Copyright 2016 Skoda Minotti | Privacy Policy | Disclaimer | Remote Support
Cleveland 440-449-6800 | Akron 330-668-1100 | Tampa 813-288-8826
Website designed and developed by Skoda Minotti Strategic Marketing