Blog
Municipal income tax reform – Stakes have never been higher
Since 1946 when Ohio authorized cities and villages to assess and collect income taxes, local governments across Ohio have relied on this tax as the major revenue source to their general funds. Municipalities have since been given latitude over more… View More
IRS Casts Bait To Reel in Taxpayers with Offshore Accounts
Without a great deal of fanfare, the IRS has reopened its Offshore Voluntary Disclosure Program (OVDP) [2] for taxpayers with foreign bank accounts. A similar program that was initiated in 2011, and modeled after a 2009 program, closed down on… View More
Structure of a partner’s sale can save federal tax dollars
The sale of a partnership interest is generally treated as the sale of the partner’s share of the partnership’s underlying assets. This results in taxation at the favorable capital gains rates so long as the interest has been held for… View More
What should drive operational effectiveness efforts?
With challenging economic conditions likely to continue for the foreseeable future, growth remains difficult for many manufacturers and wholesale distributors. Most have already completed headcount adjustments, and now are looking inward to improve their operational effectiveness in order to remain… View More
Fair value measures help for nonprofit organizations
Understanding how to apply fair value measurement to its assets and liabilities can be a challenge for not-for-profit organizations (NFPs). FASB Accounting Standards Codification 958-605 generally requires NFPs to use the fair value standard for recognized contributions of cash or… View More
To outsource or not? . . .
. . . What manufacturers should consider. You can’t do it all. That’s what some manufacturers are realizing, and they’re responding by outsourcing tasks ranging from equipment maintenance to customer service. When done correctly, outsourcing can save manufacturers money and allow… View More
Fact Finding Mission
Assessing customers’ creditworthiness If you’ve been leery of extending credit to new customers, you have good reason. Business bankruptcies are up, and many companies that escaped bankruptcy are struggling. A report by Experian, a provider of consumer and business credit… View More
Welcome to our new Tax Senior Manager
Gilmore, Jasion & Mahler is proud to announce that Brent Saunier has joined the practice as a Tax Senior Manager. Brent brings over 13 years of experience specializing in federal and state compliance and tax consulting services for middle market… View More
Lean accounting crucial in lean manufacturing
A lean manufacturing environment benefits from lean accounting practices Lean manufacturing is nothing new — many manufacturers adopted this business model during the last decade. But did you know that lean accounting is crucial to operating in a lean manufacturing… View More
Fall Manufacturing and Distribution Monitor Results
According to results from the most recent Manufacturing and Distribution Monitor, manufacturers and distributors, particularly those in the durable goods sector, suffered from a number of challenges leading into the fall, including rising energy and raw materials costs, and falling business… View More
