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Now Hiring – Tax Manager

Job Details

Tax Manager
Please send your resume to [email protected] (PDF or Image Only)
Job Description
CPA/Manager Public Accounting Davis, Nagy & Company is a growing firm in Copley looking for a tax and accounting manager. We have a small but friendly staff, and great clients. The ideal candidate will be a team member who wants to be involved in every aspect of our clients’ accounts, providing oversight and management of engagements. There will be a significant amount of client interaction, thus communication skills are a top priority. We provide tax, accounting, payroll, and consulting services to our clients based on their specific needs.
  • Prepare and/or review individual and business tax returns
  • Supervise staff
  • Ensure timely flow of returns
  • Prepare tax projections and planning
  • Research tax positions
  • Supervision of payroll tax return preparation
  • Identify opportunities for client tax savings
  • Communication with clients
  • Addressing notices and audits
  • Other projects as needed
  • Bachelor’s degree in Accounting
  • Minimum of 5 years of experience in public accounting
  • CPA required
  • Strong written and verbal communication skills
  • Strong attention to detail
  • Ability to work independently, as well as in a team
  • Have the flexibility to do what it takes to provide great service to our clients
Consider applying for this role if you have any of the skills required for this job.


  • Effective Communicator
  • Advising Customers
  • Math
  • Time Management
  • Teamwork
  • QuickBooks
  • Microsoft Office Suite
  • Highly Organized
  • Recordkeeping
  • Customer Service
  • Financial Statements
  • General Computer Proficiency
  • Medical insurance
  • Paid time off
  • Dental insurance
  • 401(k)
  • Vision insurance
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Reporting Potential Fraud/Identity Theft Update

Please be advised that ODJFS is in the process of launching an online option for employers to report potential fraud on behalf of multiple current or former employees.  The portal is estimated to go-live during the week of February 1st.

In the meantime, ODJFS encourages employers to direct employees to continue utilizing the existing online portal for individual reporting, by visiting and selecting the Report Identify Theft button.  Employers are also able to use the existing portal to report single instances of possible fraud on behalf of their employees. 

For more information for victims, please direct employees to “Identity Theft and 1099 Resources” web page:

For more information for employers, please visit .

ODJFS will issue additional notification next week once the employer portal is live and provide additional information for submission.  In the meantime, thank you for your time and cooperation. 

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Governor DeWine Announces CARES Act Funding …

The program includes several grants funded by the Federal CARES Act to small businesses and individuals.  The business applications will open on November 2, 2020 on a first-come, first-served basis. 

The following business programs are included:

  • Small Business Relief Grant – provides $10,000 grants to businesses who have 1 -25 employees paid via W-2.  The business must have experienced revenue loss or incurred unplanned costs substantially caused by COVID-19.  There are additional eligibility requirements at the link below.  The maximum amount to be provided by the state under this program is $125 million.
  • Bar and Restaurant Assistance Fund – provides $2,500 payments to on-premise liquor permit holders.  The maximum amount to be provided by the state is $37.5 million.  This program is more of a refund for a portion of the liquor license, since the holder was not able to fully utilize it.  We do not expect this application to be complicated.

Although the application for the Small Business Relief Grant has not been released, you will need your receipts and/or statements that show the amounts incurred to complete your application. The costs will need to be in the name of the business completing the application and either paid for or charged within a 60-day period prior to the filing date.  Documentation will need to be attached to your application.  The following costs can be included:  payroll, utilities, rent or mortgage payments, supplies or equipment.

We encourage you to review the grant information before November 2nd so that you are prepared when the application process opens.  You can access the information using the following link:

We are here to assist you with the application should you need our assistance.  Since the process is on a first-come, first-served basis, we will not be able to help everyone the moment the application process opens.  Should you wish to hire us to complete the application for you we will work on a first-come, first-served basis as well.  Our fee will be $400 to complete the application process and we will not begin your application until you have provided a paragraph on how you were impacted by COVID-19 and copies of the needed expenditures listed above. 

Should you have additional questions, please feel free to contact us.

Stay Safe, The Davis, Nagy & Company Team

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I have my PPP loan, now what…

I have my PPP loan, now what…

As rules and regulations keep changing, we want to provide the guidance we currently have.  Just remember that the final regulations may be different.  In order to have a portion or all of your loan forgiven, you need to understand the documentation that will be required.  Each lending institution may have slightly different requirements or forms to complete, but this is what everyone should begin putting in their file.  Once the lending institution reviews your information and approves it for forgiveness, remember the SBA may audit this information for up to 10 years.  It is up to each company to prove why they qualified for the funds and that the funds were used for the required expenses for the loan to be forgiven.

Checklist to put in your SBA PPP Loan folder:

  1. Documentation as to how the company was affected.  This will vary based on each business.  The borrower needs to certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant” and loan proceeds “will be used to retain workers and maintain payroll”.  You should add hard evidence such as financial statements showing a drop in sales, a drop in collections, business closure by state mandate, etc. 
  2. Worksheet showing how the loan amount for the PPP Loan was calculated, including the FTE number of employees
  3. Copies of signed loan agreements
  4. Document the date you receive funding and compute the end of the 8-week period in order to know when you need to have the funds spent.
  5. Document what the funds were specifically spent on (discussed in depth below) and keep copies in your folder of each expense being claimed such as payroll reports, mortgage payments, utility bills, etc.

What can I use my PPP Loan funds on for the forgiveness piece?  Generally, if you use the PPP Loan for following items, with 75% spent on payroll expenses and 25% the other items, you should qualify for forgiveness.  If your FTE drops during your 8-week period, please contact us as this may affect your forgiveness calculation.  Currently the regulations state that the expenses need to be incurred and paid during the 8-week period.  We are waiting on clarification as to the incurred portion as these expenses may need to be prorated.

  1. Payroll Expenses. The CARES Act defines payroll costs as Qualified Expenses.  For a business (as opposed to an independent contractor or sole proprietor), payroll costs are payments to employees that are
    a. salary, wages, commissions, or similar compensation (up to an annualized $100,000)
    b. cash tips or equivalent
    c. vacation, parental, family medical, or sick leave (excluding payments for emergency paid sick leave or expanded family and medical leaves)
    d. separation or dismissal pay
    e. group health insurance
    f. retirement benefits
    g. employer-paid state or local payroll tax (but not federal payroll tax)
  2. Mortgage Interest. The CARES Act defines any interest on indebtedness incurred in the ordinary course of business before February 15 that is a mortgage on real or personal property as a Qualified Expense. Principal payments or prepayments are excluded and therefore are not Qualified Expenses.
  3. Rent Payments. The CARES Act defines any payments of rent under a leasing agreement in force before February 15, 2020, as a Qualified Expense. The CARES Act does not disqualify rent paid to family members or an insider relationship among parties so long as the lease for the property was in force before February 15, 2020. There is no current SBA guidance on late payments of past-due rent or prepayments of future rent.
  4. Utilities. The CARES Act defines utilities as electricity, gas, water, telephone, or internet access for which service began before February 15, 2020, as expenses that qualify for loan forgiveness.

Sole proprietors and Independent Contractors without employees.  If you received a PPP Loan based on your business net profit, we recommend you write two checks to yourself during the 8-week period as payroll for the loan forgiveness.  The amount of the check should equal your monthly net profit computation.  The balance should pay for your rent and utilities.

Remember, the legislation is still a moving target, but you need to make sure you are tracking the funds in detail and keeping copies of the receipts for the money spent.  Should you have additional questions we are here to assist you the best we can.

Stay Safe

The Davis, Nagy & Company Team

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COVID-19 Work Refusals: Information for Employers

During this unprecedented time, many employers have been forced to lay off employees, in response to stay-at-home orders, social distancing restrictions, lack of available work, and concerns about contracting COVID-19. In response, the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided expanded unemployment benefits to impacted individuals. The CARES Act provides additional weekly supplement payments, additional weeks of benefits, and a new program, Pandemic Unemployment Assistance, for those who traditionally have not qualified for unemployment benefits.

As employers begin reopening their doors to a “new normal,” in compliance with the Responsible RestartOhio requirements, many employees are expected to return to their previous employment. Ohio law prohibits individuals from receiving unemployment benefits if they refuse to accept offers of suitable work, or quit work, without good cause.

If you have employees who refuse to return to work or quit work, it’s important that you let the Ohio Department of Job and Family Services (ODJFS) know so we can make accurate eligibility determinations.

To report these occurrences, please visit and click on “Report COVID-19 Work Refusals.” This will take you to a web page to report these employees for investigation by ODJFS. Based on an individual examination of the facts from both parties, our claims examiners will then determine whether good cause exists for the individuals in question to continue receiving unemployment benefits.

Next week, the full policy that ODJFS will use to determine individuals’ continued eligibility for unemployment benefits after refusing to return to work will be posted here: This policy will underscore the presumption that if an individual’s job is available for them to work again, they will not be eligible for unemployment benefits.

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Important COVID-19 Updates – 03/28/2020

March 27, 2020

To our Valued Clients:

So much has changed in the week since we last reached out to you.  We hope that you are all staying healthy.  As you may have heard, Congress has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  It contains many programs for both individuals and small businesses, and we wanted to make you aware of some of the provisions.

Individual relief includes:

  • There will be a one-time tax rebate check of $1,200 per individual and $500 per child.  There are no earned income requirements, and the full rebate is available for those with incomes at or below $75,000 for individuals, $112,500 for head of household, and $150,000 for married couples.
    • Above these income levels, the benefit is phased out with a $5 reduction for every $100 over these limits that is earned.  The rebate completely phases out at $99,000 for single filers, $146,500 for head of household, and $198,000 for joint filers with no children.
    • The IRS will be using direct deposit whenever possible.
  • Expanded unemployment benefits –
    • The federal government will cover the cost of additional benefits of up to $600 per week through July and providing for an additional 13 weeks of regular benefits beyond the normal 26 weeks.
    • The benefits would be available to workers who are unemployed due to their own illness, illness in a family member, the necessity to quarantine, job loss because of the virus, and staying home to take care of a child whose school or child care is closed because of the virus. It excludes those who can telework for pay, or who are already receiving paid sick leave or other paid leave benefits.
  • Student loan payments are deferred on all federal owned student loans.  This includes both principal and interest through September 30, 2020, without penalty.
    • For the remainder of 2020, employers can repay up to $5,250 of an employee’s student loans without that payment counting toward the employee’s taxable income.
  • Individuals can deduct up to $300 in cash contributions in 2020, regardless of whether they itemize their deductions.
  • Required minimum distributions from retirement plans are waived for 2020.
    • Individuals who have experienced adverse financial consequences as a result of COVID-19 are able to make withdrawals of up to $100,000 from their retirement funds without having to pay the 10% penalty normally incurred for individuals under 59 ½.
    • Loans from certain retirement plans will be allowed for those experiencing adverse financial consequences so that their funds can remain invested and benefit from market growth.

Business relief includes:

  • The Paycheck Protection Program, operated through the SBA’s 7(a) loan program, would provide for loans of up to 2.5 times the employer’s average monthly payroll at a maximum interest rate of 4%.
    • The portion of the loan used to keep employees on payroll, make rent or mortgage payments, utilities, insurance, or certain other costs during an 8-week period beginning on the loan date, would be forgiven on June 30th.
    • Amounts not forgiven would convert to a 10-year loan.
  • Employers that have closed or have suffered economic hardship and continue to pay employees that are on leave may be eligible for a 50% credit on up to $10,000 of wages paid.
  • Employers and self-employed individuals can defer payment of payroll taxes incurred during 2020.  Half would be paid by the end of 2021, and half by the end of 2022.
  • The loss limitation for pass-through businesses is modified, allowing them to deduct excess business losses.  In addition, losses from 2018, 2019, and 2020 can be carried back to the previous 5 years, creating refunds.
  • The SBA will pay all principal, interest, and fees on all existing SBA loans for 6 months.

As you may know, the deadline for filing and paying federal taxes due April 15, 2020 has been pushed back to July 15, 2020.  We have received some clarification on a few related items this week.  First, the extension is for returns and payments due 4/15/20 and includes any first quarter estimates due.  Please note that it does not include the second quarter estimate due 6/15/20.  So, your second quarter estimate will have a due date earlier than your first quarter estimate.

The Ohio legislature has passed a bill extending the state filing deadline to July 15 the Governor signed it yesterday.  We do not have clarity yet on local tax filings.

Our office remains closed through April 6th.  We are working remotely and have access to email and phones.  We are again encouraging you to mail your information to us, or request that we set up portal access for you to upload your documents.  If you would like access and are not already registered, please email [email protected] and we will create an account for you.  You are then able to upload your documents to us and we are able to upload tax returns back to you.

We have additional information regarding unemployment benefits, sick pay, and SBA loans on our website at

We appreciate your patience while we complete your returns.  We have had many additional obstacles this tax season and are working diligently to complete your returns as soon as possible.   Our thoughts are with you and your families.


Kathy and Sharon

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6 Reasons Small Business Owners Should Hire a Tax Pro

Isaac M. O’Bannon, Managing Editor On Dec 26, 2018

If you heard that millions of people tried performing surgery on themselves every year, you’d likely be aghast or at least perplexed that people would take such a chance at something so complex. Well, every year, millions of taxpayers decide to perform complex tax preparation by themselves and, while it may not put their life at risk, it is a perilous task.

For taxpayers with the simplest income tax returns, do-it-yourself online tax systems will likely suffice. These people often have only one source of income coming from a traditional employer, may have a home mortgage with interest, student loan debt and perhaps some childcare credits. For individuals with more complex incomes, such as revenue from businesses, income from interest and dividends, capital gains on a home sale or foreign assets, seeking the expertise of a professional can save time, money and potential legal complications.

For small business owners and most taxpayers, there are many reasons why seeking a tax professional is better than performing your own tax surgery.
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Will Government Shutdown Affect Tax Refunds?

By Ken Berry, J.D., CPA Practice Advisor Tax Correspondent On Jan 16, 2019

*Updated 10:01 am, ET, Jan. 16. 2019.*

Tax refunds may not be going out on time after all.

As the government shutdown approaches a full month—it’s already the longest in history—more doubt is creeping in as to whether a reduced staff at the IRS will be able to process returns and issue refunds in a timely manner. What’s more, as this is being written, there’s no end in sight to the stalemate.

When the IRS announced that tax filing season would kick off on January 28, it also stated that the shutdown wouldn’t delay tax refunds due to early filers. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown,” said IRS commissioner Chuck Rettig. The proclamation was made in accordance with directives from the White House.

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Deadline Dec. 31 for most retirees who must make required retirement plan distributions

IR-2018-248, December 11, 2018

WASHINGTON — The Internal Revenue Service today reminded retirees born before July 1, 1948, that they usually must take distributions from their individual retirement arrangements (IRAs) and workplace retirement plans by Dec. 31.

The payments, called required minimum distributions (RMDs), are normally made by the end of the year. Those who reached age 70½ during 2018 are covered by a special rule that allows them to wait until April 1, 2019, to take their first RMDs.

This means that those born after June 30, 1947, and before July 1, 1948, are eligible for this special rule for 2018. If they wait until early 2019 to take that first RMD (up until April 1, 2019), it can be counted toward their 2018 RMD, but is still taxable in 2019.
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