James A. Kilgore, CPA has information about the “Back to School” Ohio sales tax holiday:

 

 

Ohio will have a one-time sales tax holiday from Friday, August 5 at 12am until Sunday, August 7 at 11:59pm. During this time, approved purchases are exempt from sales and use tax.

The following items qualify for this exemption, meaning you can buy them with no tax:

  • An item of clothing priced at $75 or less;
  • An item of school supplies priced at $20 or less; and
  • An item of school i
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“SSARS 21” is a somewhat complicated professional standard, but Beth Friswold, CPA breaks it down for you:

 

 

Here’s some background to SSARS 21, a new professional standard that can all you to select a new level of service for your financial statements: In October 2014, the Accounting and Review Services Committee of the American Institute of Certified Public Accountants (AICPA) issued Statements on Standards for Accounting and Review Se Read More >>

To disclose or not to disclose, that is the question that Renee Hawke, CPA answers:

 

 

Recently, we assisted a dental practice client in filing a sales tax voluntary disclosure agreement with the Ohio Department of Taxation.

Here’s the situation: There was a change in sales tax law that affected certain dental practices. So, our responsibility was to go through invoices over the prior three years to determine if sales tax was charged in appropriate circumstance Read More >>

Sal Caroniti, CPA has insights that small business owners need when it comes to efficient and timely financial reporting:

 

 

One of the many attributes of a successful company is the ability of the accounting personnel to adequately, accurately and efficiently report its financial results to management and ownership.  Having an efficient and accurate accounting system is an important part of accomplishing this objective.

The internal accounting staff (po Read More >>