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Accounting and financial news
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Major showdown on budget and deficit

by Wade Kozich

Politicians in dangerous game of Russian Roulette with our economy at stake.

Posted in GBQ Exchange | Comments »

The 49% Myth

by Brian Bornino

I recently heard in a seminar that a business owner could maintain control of his family business, yet accomplish effective estate planning, by gifting 49% of his ownership in the family business to his children.  This would allow the business owner to maintain control of the business (i.e., 51% controlling ownership position), yet take advantage […]

Posted in Valuation Observations | Comments »

Casino Deal – Commercial Activity Tax

by Judd Ballard

Governor Kasich strategically included a provision in a version of the state budget which clarified that the Commercial Activity Tax (“CAT”) would apply to all revenue generated by casinos before winnings were paid out.  In other words, if a gambler wagered $20, the $20 would be considered a gross receipt for CAT purposes. Ohio casino […]

Posted in Audit & Tax Talk | Comments »

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