BREAKING NEWS

BMF Named a 2021 Best of the Best Firm!

We have again been named to the IPA’s 2021 Best of the Best Firms list, which recognizes the highest-performing firms within the accounting profession.

Articles & Publications

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Ohio’s Board of Tax Appeals Unable To Address Constitutionality of Bright-Line Nexus Standard

March 13, 2014 Tax Advisor

  Allows L.L. Bean to Move On in Fight Against Taxation The Ohio Board of Tax Appeals (BTA) upheld an assessment for Ohio’s Commercial Activity Tax (CAT) against L.L. Bean, Inc., an out-of-state taxpayer with no physical connection to. Read More >>

Final Regulations Help Clarify Tangible Property Expenses

  In late fall of last year, the IRS released final regulations that clarify how business expenditures related to tangible property should be treated from a tax perspective. This has been a gray area for many business owners for. Read More >>

Employer Healthcare Mandate Delayed for Mid-Sized Businesses Until 2016

  On Feb. 10, the Obama administration delayed the employer healthcare mandate once again until 2016. The one year delay gives mid-sized employers (50-99 full-time employees) an additional year to adapt to the healthcare regulations without incurring a penalty.. Read More >>

Ohio Issues Guidance for Computing Deduction for Income Received from Pass-Through Entities

February 12, 2014 Tax Advisor

  Ohio residents, part-time residents and nonresidents are eligible for a deduction of 50 percent of “Ohio small business investor income,” up to the first $250,000.  The maximum deduction allotted is $125,000.  Ohio small business investor income includes net. Read More >>

IRS Final Regulations on Suspending Safe Harbor Contributions During the Plan Year

The Internal Revenue Service (IRS) recently published final regulations regarding the reduction or suspension of safe harbor contributions to 401(k) and 403(b) plans under the Internal Revenue Code (Code). These regulations revise and supersede the proposed regulations that were. Read More >>

2014 Record Retention Guidelines

  When people are going through their records at year-end for their tax returns or closing their books they typically have two questions: What do I need to keep? And how long should I keep it? As you are. Read More >>

Eyes Wide Open: Who’s Watching Your Organization?

When it comes to nonprofits, there are plenty of prying eyes out there. Of course, state authorities are keeping their eyes peeled (approximately 45 states regulate nonprofit fundraising). And the IRS has made nonprofit governance a major focus area.. Read More >>

FASB Issues Revised Proposal for Lease Standards

In March 2011, we advised that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) were considering dramatic changes to the accounting rules for leases exposure draft issued in August 2010, after significant concerns were. Read More >>