February 2018

Old Fashioned Strategies Won't Work in Today's Modern Labor Market

Rich Oakes, President, GigSmart

Several weeks ago, I was discussing the current labor market with a friend of mine who owns a small business in the Cincinnati area.  When discussing his organization’s current labor challenges, he used the word “Old Fashioned” in a sentence outlining a potential strategy forward.  I couldn’t help but laugh as we bantered back and forth throughout the discussion.

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Dawn of a New Era

Howard L Richshafer, Esq. / CPA, Wood & Lamping LLC

Under the old rules, assume IRS audits a 2015 partnership income tax return.  The audit occurs in 2017. IRS proposes adjustments in 2017.  IRS must pick up each of the partners’ 2015 tax returns to collect additional tax, interest, and penalties from each 2015 partner. The 2015 partners were liable for any additional tax, interest, penalties.

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