 Respondents Support Legislation to Simplify Ohio's Municipal Income Tax System
Two-thirds Seek Immediate Changes
Respondents to The Whalen Poll on Ohio's municipal income tax structure overwhelmingly favor a proposal to provide more uniformity and consistency to the tax system across all of the state's cities and believe the change needs to take place now.
The poll, administered between May 21 and May 29 to business clients of Whalen & Company, CPAs, is the second poll the firm has conducted this year on business issues facing clients. The first, in March, dealt with Governor Kasich's proposed state budget for 2013-15 and tax reform measures.
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Office Managers Gone Wild
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Chrissie Powers, P.D. Eye Forensics
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Internal Control Weakness
Leads to Fraud
Over the past several months I have been working with several small business owners who have been victimized by their office managers. The office manager was able to steal from them as the individual was trusted and given too much control and access. The office manager recognized this internal control weakness and exploited it.
Many times business owners feel embarrassed and blame themselves for allowing this situation to occur. The owner is often reluctant to prosecute or even contact legal counsel.
So, how did many of these business owners end up needing my services? How did they become victims within their own organization?
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Learn More about Accounting, Tax, Financial and Business Matters
June's Featured Articles for Businesses and Individuals Include:
Summer Employment
Hiring your child can save taxes
Growing Pains
Complement your skills when hiring
Employment Eligibility Verification
Make sure your I-9 Employment Forms are in compliance
Another Roth Option
In-plan conversions
Volunteering
What's deductible
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 Reporting of Foreign Financial Accounts Required
Due Date Is June 30
Taxpayers with an interest in or signature authority over any foreign financial accounts with an aggregate value that exceeded $10,000 at any time during 2012 are required to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) with the Treasury Department by June 30.
No extension of time to file is available and a penalty of up to $10,000 can be asserted for each failure to file. The report is filed with the Treasury Department, not with the taxpayer's federal income tax return. Paper filing is available, but the Treasury Department encourages taxpayers to file electronically through the Bank Security Act (BSA)
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 Schedule of Educational Programs Announced
Wide Range of Topics Offered
Whalen & Company knows that part of being a good adviser and business
consultant is providing opportunities for clients to learn about issues that
may impact their business and to become aware of strategies to assist them in growing their business. The partners are pleased to offer a variety of educational opportunities in 2013.
Click here to learn about eight events to be held during the remainder of the year. To learn more about June and July workshops and get registered, click on these links:
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CLIENT AND FIRM HAPPENINGS
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 Partner
Lisa Shuneson
is one of six business leaders who are featured on the City of Worthington's new economic development website. She appears in a video in which she discusses why the firm's partners selected Worthington for its office location in 2003 and why the decision was good for the company.
To see Lisa's testimonial video and learn more about the city's new economic development website, click here. |
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 Paul Bordner, president of Laser Repro-ductions, received the Distinguished Innovator Operator (DINO) Award at the recent 2013 Additive Manufacturing Users Group (AMUG) conference. The DINO award recognizes veterans in the industry with remarkable skills that contribute to the Additive Manufacturing industry as a whole.
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 Staff Accountant Teri Curtin is celebrating her 17th year with the firm in June. She specializes in individual and corporate tax work, accounting and business consulting and has experience in both private manufacturing and public accounting. |
 Scordia Restaurant Group
employees faced off against a team from the firm in the third annual Scordia-Whalen basketball tournament on May 7. To find out the outcome of the seven-game contest and see pictures of the teams and the players in action, click here.
The Scordia Restaurant Group is a Burger King franchise with multiple restaurants located in Springfield, Troy, Sidney and Tipp City.
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 Drake Crabtree, who has been part of the firm's administrative support team for five years, graduated from Olentangy High School on June 1. Starting in August, he will attend Ohio University where he plans to
pursue a degree in business, finance or economics. |
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Luke Askins, help desk manager at My Service Depot, has been nominated as the Outstanding Customer Service Manager in the small business category of Columbus CEO Magazine's new Customer Service Awards recognition program.
To learn more about Luke and help him win this honor, click here. Voting ends June 17.
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