BREAKING NEWS

BMF Akron Office Closure Beginning May 1

Beginning May 1, our Akron Office will be closed to the public for renovations but will remain available to assist you. Contact your BMF Advisor or call 330.762.9785 to speak with someone who can help. We anticipate renovations taking several weeks, so stay tuned for updates!

Articles & Publications

IRS Warns of Fake Tax Bills: Do Not Fall Victim

In today’s age of technology, there seems to be a new scam daily and more and more of them are involving the Internal Revenue Service (IRS) and taxes. The IRS issued an alert informing taxpayers of the most recent. Read More >>

Retirement Plan Contributions: Timing is Everything

The U.S. Department of Labor (DOL) has a specific definition for “timely” remittance of employee contributions: “the earliest date that is reasonably possible to segregate the contributions from the employer’s general assets, but no later than the 15th business. Read More >>

New Proposed Regulations Impact Valuation Discounts for Transfers of Family-Owned Businesses

  Last week the Internal Revenue Service (IRS) released proposed regulations under Internal Revenue Code Section 2704 (Section 2704) that impact the valuation of interests in closely held businesses for estate and gift tax purposes. As mentioned in our. Read More >>

Tax Free Shopping for Back-to-School

July 14, 2016 The Ohio Department of Taxation announced that the 2016 Sales Tax Holiday will start on Friday, August 5, 2016 and end on Sunday, August 7, 2016 at midnight.  During the holiday the following items will be. Read More >>

IRS Advises Plan Sponsors to “Skip” New Compliance Questions for 2015 Form 5500 Filings

Last week the IRS issued a statement that the new compliance questions issued in December 2015 on the Form 5500 series do not need to be completed for the 2015 plan filing year. The IRS originally introduced these questions. Read More >>

2015 Year End Tax Planning Tips

December 3, 2015 Tax Advisor

As we near the end of 2015, there are various strategic tax planning moves you may want to consider to minimize your 2015 and future tax liabilities. This letter is intended to provide some ideas for planning to consider. Read More >>

Sales Tax Holiday for Back-to-School Shopping August 7-9th

In an effort to provide relief to Ohio families during back-to-school shopping, qualifying purchases of clothing, school supplies, and school instructional materials will be exempt from sales tax starting Friday, August 7, 2015, through Sunday, August 9, 2015. During. Read More >>

Be on the Lookout for Tax Identity Theft

Tax identify theft is the biggest and most prevalent tax scam going right now — and peak season is just around the corner for refund fraud. This scam has become a big problem due primarily to its simplicity. Identity. Read More >>

New Rules for Multi-Employer Pension Plans

Among the many tax extender provisions in the newly signed Tax Increase Prevention Act of 2014 (the “Act”) was a provision that could potentially affect multi-employer defined benefit pension plans, such as union plans or groups of companies sharing. Read More >>

Ohio Employers Incur Additional Unemployment Tax

  2014 FUTA Credit Reduction States Released The Department of Labor (DOL) has announced the final list of states with an outstanding balance under Title XII of the Social Security Act, which affects the FUTA tax rate credits for. Read More >>