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Accounting and financial news
from the front lines

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 »