BREAKING NEWS

Richard C. Fedorovich to Receive H. Peter Burg Award

Richard C. Fedorovich has been selected as the 2023 recipient of the H. Peter Burg Economic Development Leadership Award, presented by the Greater Akron Chamber.

Articles & Publications

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Financial Statement Audits in a Post-COVID World

The COVID-19 pandemic has significantly impacted the way professional service firms interact with and deliver services to their clients. Early in the pandemic, CPAs and other professional service providers had to quickly pivot and learn how to collaborate with. Read More >>

Advanced Child Tax Credit: Planning for Your 2021 Tax Filing

The child tax credit has been getting a lot of attention in the press lately. An updated version of the ChildTaxCredit.gov website was released Monday with new features to assist taxpayers with obtaining the information they need to file. Read More >>

Designing a 401(k) Matching Program to Meet Your Objectives

We’ve found over the years that it can be challenging to get employees to set aside money for their retirement. By providing a matching contribution to your employees, you are helping to incentivize them to put their own money. Read More >>

2022 Standard Mileage Rates Issued

January 18, 2022 Tax Advisor

Each year, the IRS issues optional standard mileage rates for the coming year. The rates cover the cost of using your personal vehicle, most commonly for business, but also if you drive for medical, moving, or charitable purposes. Each. Read More >>

Tax Structuring in M&A Transactions

*as seen in Crain’s Cleveland Business, January 17, 2022 A properly structured transaction can provide tax benefits to both the buyer and the seller. Typically, buyers want a deductible step-up in basis while sellers want capital gains treatment. Proper. Read More >>

Staff Highlights – Winter 2022

Candle making, Escape Room, Fencing, oh my! These are a few of the incredible outings we’ve hosted with #teamBMF members. Because it’s not only about what we do at work. It’s getting to know those new to the firm,. Read More >>

Federal COVID Funding Could Trigger Single Audit Requirement

COVID-19 has had a significant economic impact in the United States. Some nonprofit organizations were compelled to temporarily close, execute their mission remotely or restructure their operations entirely. The Federal Government responded by releasing considerable amounts of funding to. Read More >>

2021 Year End Tax Planning for Businesses and Individuals

Year-end tax planning is always tricky, but pending legislation prior to year-end adds a whole new layer of complexity to the equation. At the current time, the House has passed the Build Back Better (BBB) Act with numerous changes. Read More >>

IRS Clarifies Guidance on 2021 Employee Retention Credit Termination

The Employee Retention Credit (ERC) was enacted under the March 2020 CARES Act to encourage businesses to keep employees on their payroll and was extended to last until the end of 2021. On December 6, the IRS released IRS. Read More >>

2022 Cost-of-Living Adjustments (COLAs)

November 30, 2021 Tax Advisor

The IRS has announced the 2022 cost-of-living adjustments (COLAs), which impact retirement plans for more than 70 million Americans. These taxpayers will get a 5.9% increase in monthly Social Security benefits and supplemental security income payments in 2022. The. Read More >>