GBQ

Entrepreneurial Spirit. Independent expertise.

GBQueue

Accounting and financial news
from the front lines

Tread carefully when determining compensation for S corp. shareholder-employees

by Melissa Rager

By distributing profits in the form of dividends rather than salary, an S corporation and its owners can avoid payroll taxes on these amounts. Because of the additional 0.9% Medicare tax on wages in excess of $200,000 ($250,000 for joint filers and $125,000 for married filing separately), the potential tax savings may be even greater […]

Posted in Audit & Tax Talk | Comments »

In Case You Hadn’t Heard – Milestone Damages in Apple Case Revisited

by Associate

Apple, Inc.’s successful “i” products and services (iPhone, iPad, iTunes, etc.) have made it both the US’s most valuable company and likely one of its most sued companies. As my colleague Keith Hock detailed in his February blog post, patent litigation is a popular area of contention in today’s economy. In 2014 alone, Apple was […]

Posted in Case In Point | Comments »

Tax treatment of NQSOs differs from that of their better-known counterpart

by Melissa Rager

With nonqualified stock options (NQSOs), if the stock appreciates beyond your exercise price, you can buy shares at a price below what they’re trading for. This is the same as for the perhaps better-known incentive stock options (ISOs). The tax treatment of NQSOs, however, differs from that of ISOs: NQSOs create compensation income — taxed […]

Posted in Audit & Tax Talk | Comments »

How to begin collecting your 2015 tax refund now

by Melissa Rager

If you usually receive a large federal income tax refund, you’re essentially making an interest-free loan to the IRS. Rather than wait until you file your 2015 tax return in 2016, why not begin enjoying your “refund” now by reducing your withholdings or estimated tax payments for the remainder of 2015? It’s particularly important to […]

Posted in Audit & Tax Talk | Comments »

Budget Season is Over, Time to Hit the Beach

by Judd Ballard

The Ohio tax landscape has been plenty busy this summer, keeping pace with constant changes in our weather.  Below are some of the highlights that have finalized in the last few months, allowing the Ohio Legislature to pack up the family station wagon and head anywhere but here. Ohio Budget Bill Substitute House Bill 64 […]

Posted in Audit & Tax Talk | Comments »

Pelotonia 2015: Be a Part of One Goal

by Judd Ballard

In one month, Team GBQ will participate in its 6th Pelotonia ride.  In the last five years, the firm’s peloton has averaged 14 riders and raised more than $30,000 each year. The total number of registered riders has already exceeded 7,100 and fundraising is closing in on $6 million.  Because Pelotonia has been around now […]

Posted in GBQ News & Culture | Comments »

Fast 50 Awards

by Ed Bannen

This year is the 20th anniversary of the Columbus Business First Fast 50 Awards and GBQ is a proud sponsor and supporter of the event. If you feel like your company is the best in business and headquartered in central Ohio, then don’t forget to get your nomination in! Click here for the nomination form […]

Posted in Audit & Tax Talk | Comments »

SCOTUS Same-Sex Ruling: Tax Implications

by Melissa Rager

At this point you’ve heard about the Supreme Court’s ruling on same-sex marriage equality, that or you’ve been living under a rock the past few days.  There have been numerous articles, blogs, and posts on the subject, especially by those individuals who now think they are experts on the subject (i.e. thank you continual Facebook […]

Posted in Audit & Tax Talk | Comments »

Tags