President Obama Signs Teacher Funding Bill Paid for by Significant Changes to International Tax Rules


By Ron Kramer

On August 10, 2010, President Obama signed legislation providing funding for teachers, emergency responders and state health insurance. The House was asked ... read more >

Merger & Acquisition Costs - Tax Deductible?


By Evan Ogrodnik

Many U.S. businesses have used the recent economic downturn as a stimulus to revisit and revise their short- and long-term strategic plans. As such, many ... read more >

Accumulated Earnings and Profits Inside an S Corporation


By Dennis Loughran

Many of our corporate clients here at Schneider Downs are Subchapter S corporations, or more commonly called S corporations. S corporations are incorporated ... read more >

A Potential Hurdle Cleared on the Path to IFRS Convergence


By Todd Lucas

In June of this year, the IASB and FASB issued an exposure draft on revenue recognition. Revenue recognition, along with financial instruments, fair value ... read more >

OSCPA and AICPA Involved in 1099 Reporting Dilemma


By Matt McKinnon

A recent article by the Ohio Society of CPAs (click to view) addressed concerns with the new reporting requirement for 1099 forms included in the Patient ... read more >

New W-2 Health Care Coverage Reporting Requirement


By Kathleen Myers

Employers that sponsor health care plans will need to take notice of a new W-2 reporting requirement that takes effect in 2011. As part of health care ... read more >

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 >