Recent Blogs


Topics: construction

Contract estimates can impact every aspect of a construction project, so it’s crucial for companies to handle estimation issues effectively to improve profitability and cost management. 
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Posted: 10/19/2017
Topics: Business Development Planning, Family Business, Small Business, Small Business Services, Succession Plan, Succession Planning
A well-documented succession plan helps reduce risk and ensure your company’s continuing success, yet many firms struggle to develop one that addresses a successful leadership transition. 
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Posted: 10/9/2017
Topics: IT, IT Services, SOC Reports

The recent Equifax data breach provided a reminder of the dangers facing organizations that store valuable data. Even those with strongly defended networks are at risk. But there are still plenty of steps companies can take to help slow them down.

By: Ryan Bidlack

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Posted: 9/29/2017
Topics: SOC Reports
Service organizations seeking new customers and attempting to stay ahead of the competition can set themselves apart by obtaining a SOC Report.
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Posted: 9/28/2017
Topics: Business Development Planning, small business, Tax
Many business owners automatically assume they do not qualify for the Research and Development (R&D) Credit. They simply hear “R&D” and immediately assume only high-tech, scientific, or medical research companies qualify. However, for thousands of taxpayers, qualifying for the R&D Credit is easier than ever.
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Posted: 7/19/2017
Topics: Nonprofit
Financial sustainability is key to any nonprofit organization’s long-term stability and ability to continue to deliver on its mission.  Revenue diversification can be an attractive answer and a useful financial strategy for nonprofits, making up for gaps created by government cutbacks or shrinking donations.

By: Stephen Cox
 
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Posted: 5/31/2017
Topics: appraisal services, appraisals

Companies come in all types and sizes, but the one thing they all have in common is the use of fixed assets or personal property that are utilized to manufacture, service or deliver goods to a customer. Fixed assets will need to be valued at some point in their life cycle, but your book value does not take into consideration market changes. 

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Posted: 5/3/2017
Topics: Manufacturing
As a manufacturer, the product your business makes is often its biggest asset and the largest expense of working capital. But if you aren’t properly using an inventory management system, overstocked inventory can stand in the way of your financial goals. 

By: Michael Majewski
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Posted: 4/12/2017
Topics: nonprofit

Nonprofit organizations are required by law to abide by donor restrictions on charitable gifts. However, identifying contributions as restricted isn’t always easy. 

By: Lena Parks

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Posted: 3/29/2017
Topics: Real Estate
Owning highly appreciated land is always an exciting opportunity for landowners. For many of them, this means their land is ready to be subdivided and developed for a huge profit. But as with any investment, large profits usually result in big tax liabilities. Landowners should be aware of this reality and know how to mitigate the tax burden.

By: John Burgett
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Posted: 3/22/2017
Topics: Business Valuation

Potential buyers are always looking for investments that minimize risk and maximize return.  To maximize the value of your privately-held business, you need to understand your value drivers, ensure optimal business operations, and reduce risk and maximize return as much as possible. 

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Posted: 3/1/2017
Topics: Construction

Ohio's municipal tax code has been an area of confusion and frustration for the construction industry for years. The Ohio House Bill 5 provides businesses with more flexibility when they need to begin paying municipal income taxes. 

By: John Burgett

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Posted: 2/22/2017
Topics: Business Valuation, Buy sell agreement, Small Business
For most business owners, one of the single biggest assets they have is the ownership of their closely-held business.As an owner of a company with shareholders and partners, you may already be taking such a gamble if your company either lacks a buy-sell agreement or has other problems with an existing buy-sell agreement.
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Topics: Nonprofit

When nonprofits earn income through an activity that is unrelated to their exempt purpose, the revenue earned from the activity may be taxable income under IRS rules for “unrelated business income taxation,” often referred to as “UBIT.”

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Topics: employee benefit plan
A recurring issue encountered with many 401k audits is the treatment of severance and post-severance compensation. To properly determine when compensation is paid to an employee during or after severance is considered eligible compensation for 401k purposes, it is important to distinguish whether it is severance or post-severance pay.

By: Cory Baughman
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Posted: 1/18/2017
Topics: Ohio Tax

Ohio’s Department of Taxation is stepping up its enforcement of Ohio sales and use tax law, which means no business owner can afford to be left in the dark. It is absolutely essential to always comply with and understand the sales tax requirements in the states you do business.

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Posted: 12/8/2016
Topics: Business, Development, Small Business
Restaurant and food service businesses are impacted by the heavy traffic every day. What happens when this increased activity begins to take a toll on the buildings and expensive equipment? With recent tax law changes, understanding  "depreciation" expenses has never been more important.

By: Mandi Raneri

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Posted: 11/16/2016
Topics: Business, Business Valuation

The process of getting together the required financial documents for a business valuation can be time-consuming and the results can be painful if you don't have the right advisor. The choice of selecting an appraiser to perform a valuation, on what is typically a business owner’s largest asset, should not be taken lightly. Here are some helpful strategies to successfully prepare your business for a business valuation.

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Topics: Business, cashflow
A healthy cash flow is imperative to running a business. But if your company is susceptible to the economy, its ability to manage cash flow is even critical. Here's a helpful infographic.
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Posted: 10/28/2016
Topics: Manufacturing
The 3D printing industry can help manufacturing companies streamline the design processes and lower production costs for ma. Learn more about the many uses of 3D printing in the manufacturing industry.


By: Josh Murgel

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Posted: 10/24/2016
Topics: Business, Business Development Planning
Choosing the right business structure will largely depend on your business and situation, and there are several different options, with each option having its own unique tax and legal consequences. Read more to compare the different business entities. 

By Jonathan Kocon
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Posted: 10/17/2016
Topics: Small Business, Small Business Services, Tax, Taxes
The InvestOhio program, which provides a non-refundable personal income tax credit to people who invest in an eligible small business. has been renewed until June 30, 2017. Read more to find out if you are eligible for this credit.
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Posted: 10/10/2016
Topics: construction

Ohio's complex municipal tax code is finally going to be reformed and modernized. Learn the new occasional entrant rules and how the bill will affect construction companies  

By: John Burgett

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Posted: 10/3/2016
Topics: Business

One of the toughest challenges facing employers is finding, hiring, and retaining talent. Learn more ways to improve employee satisfaction while improving productivity in the workplace and retaining personnel long-term.

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Posted: 9/26/2016
Topics: IRAs, Tax
Many people who inherit IRAs are unfamiliar with the rules that apply to them. Read more to get answers to common questions related to inherited IRAs and how it can affect you.
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Posted: 9/21/2016
Topics: Succession Planning
Succession planning can’t start soon enough for physicians who put in years of hard work and sacrifice to build successful medical practice. Read more about how to prepare and plan to ensure your practice in in good hands.
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Posted: 9/12/2016
Topics: Manufacturing

With this new generation of millenials comes a new challenges for employers as they integrate these employees into a well-established workplace. These challenges can be especially poignant for manufacturing companies.
 

By: Krista Zuchowski
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Posted: 9/7/2016
Topics: Nonprofit
From purpose to source of revenue and types of expenditures, nonprofit organizations differ in many ways. However, one objective all nonprofits have in common is they strive to keep administrative costs down. Learn how to operate efficiently on a tight budget, even with a small accounting staff.

By: Lena Parks
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Posted: 8/29/2016
Topics: Construction, Development, Manufacturing
What are the the key benefits of offsite construction? We explore the monetary and safety  advantages over the traditional construction process.

By: Kyle F. Lottman
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Posted: 8/24/2016
Topics: Development, Real Estate
The Financial Accounting Standards Board (FASB) has recently issued an important Accounting Standards Update (ASU) 2016-02 related to accounting for lease transactions. The accounting changes and effects on businesses are vast and will effect nearly every business in the country. 
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Posted: 8/17/2016
Topics: Estate Plan, Family Business, Small Business, Taxation Services
The business valuation and estate and planning community have heard the same type of rumors every few years – the IRS would be looking to make changes to try and eliminate or reduce the use of valuation discounts. As of August 2016, the IRS has moved one step closer to turning that rumor into a reality.  
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Posted: 8/10/2016
Topics: Real Estate
A review of  Cleveland’s classic Lolly the Trolley tour of Ohio City's current and upcoming developments sponsored by the Cleveland sector of the Urban Land Institute (ULI), a nonprofit dedicated to the prosperity and sustainability of communities on an international level.

By: Gianna Argie
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Posted: 8/2/2016
Topics: Ohio Tax, Taxes
States are changing their laws on what constitutes revenue within their state with some adopting a market-based sourcing approach, which is a shift from the traditional cost-of-performance approach.
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Posted: 7/27/2016
Topics: Real Estate, Taxation Services
With the PATH Act taking effect, bonus depreciation is going, going, gone. Explore the phase-out of bonus and changes to Section 179 expensing.
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Posted: 7/20/2016
Topics: Retirement Planning, Small Business Services
Small business retirement plans enable great flexibility for the owners and employees to fund for their future, but careful planning is necessary before execution. Here's a breakdown of 3 plans for you to consider.
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Topics: Nonprofit
Charity Navigator is the nation’s largest and most utilized evaluator of charities. The rating given to an organization by Charity Navigator is used by donors to determine donations and by funding sources to look for fiscally sound and properly governed organizations. You don't choose Charity Navigator. Charity Navigator chooses you. Are you ready?
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Posted: 6/3/2016
Topics: Nonprofit
Many non-profit organizations are unsure if the new overtime law applies to them. A non-profit must meet one of these two requirements to be subject to the new overtime law.
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Posted: 5/26/2016
Topics: Business Development Planning, Tax
On May 18, 2016 President Obama and the Department of Labor announced the Final Rule, which updates and adds two new regulations to the overtime rule requirements. Read on for a quick overview, and learn five ways employers can respond to the new law.

By Eileen Lucas
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Posted: 5/25/2016
Topics: Business Valuation
A long-term financial projection can help you strategically plan for these four business scenarios. 
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Posted: 9/24/2015
Topics: Business Valuation, Succession Plan
Know what influences how much your business will sell for in order to get the best value when you leave your business. 
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Posted: 9/9/2015
Topics: Benchmarking, Business Valuation, Estate Plan, Succession Plan, Tax
You may be unaware of how your business is truly performing. Benchmarking and financial ratio analysis can help you realize these four things...
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Posted: 8/26/2015
Topics: Business Valuation, Buy Sell Agreement, Estate Plan, Succession Plan
Do you know what your business is worth? You need to know because...
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Posted: 8/26/2015
Topics: Business Valuation, Buy Sell Agreement
You can’t prevent certain misfortunes – but you can plan for them. 
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Posted: 8/3/2015
Topics: Ohio Tax, Small Business
Big tax savings for Ohio small business owners. 
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Posted: 7/24/2015
Topics: Tax
The tax filing season is finished and you don’t have to worry about your business taxes for another year, right? But how do you know if you have paid the right amount of taxes or paid all the taxes you owe? Maybe an even better question is: how do you know you haven’t paid too much in taxes?
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Topics: Business Valuation, Buy Sell Agreement
Detrimental ramifications happen when new business owners rush into signing this agreement. 
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Topics: Family Business, Performance Measurement, Succession Plan
Having a formal evaluation process in place at your family business is critical to bridging the expectation gap between the parents running the business, their adult children, and other employees.
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Posted: 2/13/2015
Topics: Construction
Leasing accounting c​hanges have a huge financial impact on businesses. 
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Posted: 12/14/2014
Topics: Business Valuation, Family Business, Succession Plan, Tax
Regardless of your age and the stage of your businesses, failing to have a succession plan in place could be a fatal event. Is your business protected?
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Posted: 10/16/2014
Topics: Business Valuation, Succession Plan

You may not like to think about it, but you’re not going to be running your business forever. When that time comes, will you be ready?

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Posted: 5/5/2014
Topics: Real Estate
At Barnes Wendling, our Real Estate and Construction Group have helped our clients structure hundreds of commercial real estate deals. Many real estate investors have sought our advice after the deal was completed. We have seen investors make many mistakes. Here are the most common:
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Posted: 3/4/2014
Topics: Real Estate, Tax
High income earners can expect tax changes with the passage of Obamacare. Here are some tips to help you through the transition. 
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Posted: 2/27/2014
Topics: Construction
How tracking your construction company's financial metrics can help you measure its performance against others in the industry.
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