Articles & Publications

All Posts

IRS Delays and Other Issues on 2019 Tax Filings

The Internal Revenue Service (IRS) has been experiencing several delays and other issues in connection with processing tax returns and payments. Below we’ve highlighted guidance around some of the more common items that our clients are experiencing related to. Read More >>

SBA and Treasury Address Owner-Employee Compensation and Rental Expenses in Latest Paycheck Protection Program Guidance

Following on the heels of the U.S. Small Business Administration (SBA) and Treasury’s recent issuance of 23 new FAQs addressing Paycheck Protection Program (PPP) loan forgiveness, additional guidance has been issued related to owner-employee compensation and the eligibility of. Read More >>

New Rules for Required Minimum Distributions

There have been several changes to Required Minimum Distribution (RMD) rules this past year. When the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed last December, it changed the age limit for RMDs from age 70 ½. Read More >>

Paycheck Protection Program Forgiveness Applications – Should You Act Now or Wait?

Recently, the Small Business Administration (SBA) opened its portal for accepting forgiveness applications under the Paycheck Protection Program (PPP) . Over the next few weeks, banks will be preparing to start accepting forgiveness applications, although some lenders may wait. Read More >>

BMF Recognized AS A 2020 Top 200 Firm by INSIDE Public Accounting

For the second consecutive year, we have been recognized by INSIDE Public Accounting (IPA), based on the 2020 annual IPA Survey and Analysis of Firms, as a Top 200 Accounting Firm in the nation! The IPA’s annual rankings of. Read More >>

SBA Releases 23 New FAQs to Address Paycheck Protection Program Loan Forgiveness

On Tuesday, August 4, 2020, The U.S. Small Business Administration (SBA), in consultation with Treasury, issued 23 frequently asked questions to help provide additional guidance around forgiveness of Paycheck Protection Program loans. The FAQs address four areas of PPP. Read More >>

Ohio’s 2020 Sales Tax Holiday for Back-to-School Shopping is Aug 7-9

The Ohio Department of Taxation announced that the 2020 Sales Tax Holiday will start on Friday, August 7, 2020 and end on Sunday, August 9, 2020 at midnight. During the holiday, the following items will be exempt from tax:. Read More >>

COVID-19 Checklist: Reassessing Your Risks and Internal Controls

The global pandemic has caused nearly every business to rapidly adjust its operations to allow for remote and contact-less working environments. But during this abrupt pivot, some organizations may have adversely impacted their control environment, elevating their financial and. Read More >>

Rick Fedorovich Named to Leadership Roles for Cleveland Leadership Center and Ohio Society of CPAs

July 28, 2020 BMF InsightsMeet Our Team BMF

Richard C. Fedorovich, CPA, has been named chair of the Cleveland Leadership Center board and was appointed to the board of the Ohio Society of Certified Public Accountants (OSCPA). Rick was elected board chair of the Cleveland Leadership Center. Read More >>

Navigating Uncertainty for Future Success, Together

I wanted to share with you some thoughts on how COVID is affecting our clients, their go-forward strategies and our own firm as well. It’s a time when we’re all starving for normalcy and certainty. Many of us are. Read More >>