IRS Announces One-Time Relief Program for Small Nonprofits

On July 26, 2010, the Internal Revenue Service announced a one-time relief program for small nonprofit organizations at risk of losing their tax-exempt ... read more >

House Efforts for Form 1099 Relief Fail (for the time being)


By Ron Kramer

On Friday, July 30, the House failed to approve the Small Business Tax Relief Bill of 2010 (HR 5982). HR 5982, introduced by a Democratic member of the ... read more >

Health Care Reform Legislation Codifies the "Economic Substance Doctrine" and Adds Harsh New Tax Penalties

Health Care|Tax

By Ron Kramer

As part of the Health Care and Education Reconciliation Act of 2010 (the Act), U.S. Congress enacted into law new Internal Revenue Code (IRC) Section 7701(o), ... read more >

Valuation Methods for Auto Dealers

While valuing an auto dealership involves using the same three approaches that are used to value any business (income, market and asset), there are unique ... read more >

How Lease Accounting Changes Affect Transportation and Logistics Companies

Do you lease your warehouses or fleets under “off balance sheet” operating leases? Are you considering new lease options as part of your strategic ... read more >

Schneider Downs Annual Nonprofit Symposium: A New Take

On Wednesday, August 18, Schneider Downs will host its Annual Nonprofit Symposium at the Mid-Ohio Foodbank. This year, we are introducing an entirely new format.... read more >

Pennsylvania Turnpike Tolls to Rise/Increased Benefits of E-Z Pass

According to officials of The Pennsylvania Turnpike, Pennsylvania turnpike tolls are set to increase on January 2, 2011, by approximately 3% for E-ZPass ... read more >

Loss of Manufacturing Jobs in the Pittsburgh Region: What's Going On?

On July 15, 2010, the Pittsburgh Business Times reported that the Pittsburgh region had lost 44,100 manufacturing jobs since the year 2000. This puts us ... read more >

Congress Exempts Non-accelerated Filers from SOX 404(b)

The Senate approved the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, H.R. 4173, which was approved by the House on June 30. The approval ... read more >

Can a Creditor Take Your Single-Member Limited Liability Company?


By Gregory Allison

On June 24, 2010, the Florida Supreme Court, in Olmstead v. FTC, ordered a debtor to surrender his interest in his single-member limited liability company (“LLC”) to satisfy an outstanding judgment against him individually. The debtor argued that the proper remedy is a charging order, which is an order whereby a creditor is entitled solely to distributions from the entity to satisfy his judgment and is not afforded management or control of the entity.... read more >