Cincy Entrepreneur: Putting the P in CPA

Flagel Huber Flagel takes the “P” in “Certified Public Accounting” seriously. On Aug. 12, two thirds of the 60-person CPA firm, with offices in Symmes Township and Dayton, will spend the day in public service as part of the firm’s annual Accountants in the Community program. For the second year in a row, employees will volunteer to spend the day in service to local nonprofits such as the Ronald Continue Reading

Now’s the time to begin your 2015 tax planning

Whether you filed your 2014 income tax return by the April 15 deadline or filed for an extension, you may think that it’s a good time to take a break from thinking about taxes. But doing so could be costly. Now is actually the time you should begin your 2015 tax planning — if you haven’t already. A tremendous number of variables affect your overall tax liability for the year, and starting to look Continue Reading

Businesses: How to Help Prepare for Audit Season

The busiest time of year for external financial statement auditors generally runs from January to April each year. But CPAs usually start gearing up for audit season in November of the preceding year. Accountants meet with clients, assign staff and schedule fieldwork. Then, the team conducts preliminary financial analytics, observes physical inventory counts, assesses risk factors and customizes Continue Reading

Ten Year-End Tax Planning Ideas for Individuals

Another year is winding down. Before the hustle and bustle of the holidays sets in, it's a good time to brainstorm ideas to lower your 2014 tax bill. Here's an overview of what's happening in the world of tax -- and 10 simple tax-saving strategies that you can implement before year end. Setting the Current Federal Tax Scene Here's some important information for taxpayers about the Continue Reading

IRS and Social Security Announce Increased Benefits for 2015

With the 2015 tax year right around the corner, there is good news coming from the IRS. According to a recent announcement, the tax agency has increased several tax breaks due to inflation adjustments. Social Security Checks to Increase Too Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 64 million Americans will increase 1.7 percent in Continue Reading