Whether building a new project, acquiring assets or making improvements to in-service assets, it’s important for developers to understand the rules, benefits and detriments of expensing or depreciating capital expenditures for tax purposes. With a clear view of what’s at stake, you can set policies...
Read MoreGovernor Whitmer signed H.B. 5376 on December 20, 2021, enacting a flow-through entity tax for those doing business in Michigan. This legislation was passed as a workaround to the federal $10,000 state and local tax deduction limitation that has frustrated many business owners since it was passed in...
Read MoreWith staffing burdens impacting the IRS as much as any other sector, it is increasingly difficult to reach an agent via phone for timely tax-related questions and information. To help alleviate this issue, the IRS is now using ID.me, which allows taxpayers to access a host of account information...
Read MoreCohen & Co, an award-winning, national accounting and advisory firm, is pleased to announce that Chris Bellamy has been selected as the firm’s next chief executive officer (CEO) effective June 1, 2022. Bellamy will succeed Randy Myeroff who joined Cohen & Co in 1985 and has served as CEO for 25...
Read MoreAs the pandemic drags on, employees continue to split their time between the office and home — leaving many questions for employers and employees related to city income tax withholding. Below takes a look at the reality Ohio municipalities have faced over the past two years and where those in the...
Read MoreFrom digital art to in-game digital assets, the recent emergence and rising popularity of non-fungible tokens (NFTs) is leaving individuals with a plethora of tax questions. This article is intended to provide some clarity for those looking to invest in this evolving asset class. What is an...
Read MoreAs a not-for-profit dealing with the never-ending struggle to raise funds, you might look for more creative ways to meet your budgeted revenue goals. In some cases, certain activities surrounding high-profile events, such as Super Bowl Squares or NCAA March Madness bracket pools, may seem like...
Read MoreThe IRS recently released a memo outlining new informational requirements for amended tax returns claiming a Research and Development (R&D) tax credit, effective January 10, 2022. Depending on the specifics of your business, the impact could be minor or extremely time consuming. Specifically,...
Read MoreCohen & Co is proud to share that our CEO, Randy Myeroff, has been recognized by Cleveland Magazine as a member of The Cleveland 500 list. Cleveland Magazine’s 2022 edition of The Cleveland 500 is a compendium that profiles leaders from all facets of the business, entertainment, education and...
Read MoreOhio has allocated $500 million in funding for brownfield assessment, remediation and demolition in its 2022-2023 budget. To be considered a “brownfield,” a property must be linked to either known or potential releases of hazardous substances, including asbestos abatement. Run by the Ohio...
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