Consulting Services Archives - Corrigan Krause | Ohio CPA Firm

Alternative minimum tax can affect businesses, but it’s also something to be aware of as an individual tax payer as well.

The Inflation Reduction Act included a number of items for businesses, but what about individual taxpayers? Overall, the Inflation Reduction Act included a number of credit updates and other extensions that affect individuals.

Corrigan Krause is proud to announce Tom Harrison, CPA, CEPA, has been named a 2022 Smart 50 Award honoree by Smart Business!

While you’re in the midst of planning, growing or expanding your business, it’s important to develop and execute a buy-sell agreement between all business owners. A buy-sell agreement can provide structure for an unexpected event such as a death or disability, and provide a road map for expected events such as a shareholder retirement buy-out. Setting up a buy-sell agreement in the early stages of your business planning can help you handle the unexpected and expected events more swiftly in the future - and with a lot less stress.

Corrigan Krause CPAs and Consultants is proud to announce that Tom Krause, CPA, has been named a Mentor of the Year by Engage! Cleveland.

President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.

President Joe Biden signed the Infrastructure Investment and Jobs Act into law November 15, 2021, and with that, a number of tax provisions are now in effect. Click here to read a list of the changes.

Exit planning is not usually the first thing entrepreneurs and business owners are thinking about. The daily demands of growing a business often take priority over long-term planning, but it’s the long-term planning that can transition current success into something that lasts a lifetime. 99% of business owners say that their transition strategy is important to their future and the future of their business yet less than 50% have an exit plan in place.

I’m a small business. Read More >>

More changes, but more flexibly! Now signed by the President, the PPP Flexibility Act protects and promotes the original intent and goals of the Paycheck Protection Program: to help borrowers reach full, or almost full, loan forgiveness. While things are still not yet final, here’s what we know right now:

The Changes:

The Act changes the 75% payroll expenditure requirement to 60%, allowing borrowers to use 40% of funds on other allowed uses such as rent and utilities.
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