Month: July 2019

Eric Dorenkott, CPA, MT is a director at the firm and the head of the tax department.

On July 18, 2019, Governor Mike DeWine signed into law the 2020-2021 Ohio budget (House Bill 166). The following blog outlines the issues that could affect you and/or your business this year and into the future:

Individuals (effective January 1, 2019 unless stated otherwise)

• Eliminated the bottom two income tax brackets, which results in individuals making less than $21,750 not paying Ohio

Beginning in 2019, Sub. S.B. 226 provides for a permanent sales tax holiday on the first Friday, Saturday, and Sunday of August each year.

For 2019, the sales tax holiday will begin on Friday, August 2 at 12:00 am and end on Sunday, August 4 at 11:59 pm.  During this time, approved purchases are exempt from sales and use tax.

The following items are exempt from sales and use tax:

• An item of clothing priced at $75 or less;
• An item of school supplies priced at $20 or less; and
• An item of sc

For the past 30 years, Corrigan Krause has continued to grow and expand.  Growing our team and promoting our members internally has been a top focus, which has allowed us to build the strongest and most effective team for our clients.  Over the past year, many of our employees have worked hard and shown their dedication to the firm, and this could not be more appreciated.  We are excited to announce a few recent changes to our team that will help us continue to grow and successfull Read More >>

Elizabeth Friswold, CPA, CFE is a manager at Corrigan Krause.

What is Accounting Fraud and What are the Different Types?

Many individuals want to know, what exactly is accounting fraud?  There are three different types of common accounting fraud:

1. Misappropriation of Assets: For example, stealing inventory or cash. This is the most common type of accounting fraud.
2. Bribery and Corruption: This means giving or receiving an unearned reward to influence someone’s be