Posted on

Covid-19/Coronavirus Information

To our Valued Clients:

We hope that you are all staying healthy during this very difficult time.  We are following developments from the CDC, IRS, and the State of Ohio in an effort to provide you with the information and services that you need.  Our first priority is the health and safety of our staff and clients.

As you may know, the deadline for filing and paying federal taxes due April 15, 2020 has been pushed back to July 15, 2020.  This means that you will have an additional 90 days to both file and pay any balances due.  No extension needs to be filed to receive this additional time.  As of yet, the State of Ohio and Ohio municipalities have not adjusted their filing deadlines.  So, at this point, the deadline for both payment and filing of these returns is April 15, 2020.  We are watching this situation closely and hope to have news of state and local extensions in the near future.

Due to the Governor’s stay at home ordered issued Sunday, we are closing the office for the next two weeks and will reassess the conditions on April 6th.  During this time, we will be working from home and have access to email as well as our office phone system.  If you have any questions, please give us a call or send us an email and we will respond as quickly as possible. We are encouraging you to use alternative ways of getting your information to us and receiving information from us.

  • We have an online client portal. If you are not already registered, please email ken@davisnagycpa.com 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.
  • You can mail your documents to us.

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

Know that our thoughts are with you and your loved ones.

Sincerely,

Kathy and Sharon

Important PDF documents to download:

 

Posted on

Will Government Shutdown Affect Tax Refunds?

By Ken Berry, J.D., CPA Practice Advisor Tax Correspondent On Jan 16, 2019
Source: https://www.cpapracticeadvisor.com/news/12440133/will-government-shutdown-affect-tax-refunds

*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.

Read More
Posted on

Exciting developments happening this summer!

Dear Valued Client,

Exciting developments happening this summer!

We are pleased to announce that Davis CPA and Associates, LLC is merging with Sharon L. Nagy, CPA Inc. effective July 1, 2018. We can’t wait for our clients to meet the new team and see our new location. The new practice will be known as Davis, Nagy & Company LLC and the new location will be 1270 S. Cleveland-Massillon Rd. Bldg. A Ste. 110, Copley, OH 44321.

Davis CPA and Associates, LLC brings over 53 combined years of public and private accounting and tax knowledge. Davis CPA has distinguished the service they provide to their clients by going beyond what is considered to be the “typical” CPA role.  Clients have learned to rely on the firm for their individual and business tax, payroll, and business consulting needs. Davis CPA and Associates, LLC currently has two team members, Kathy Davis, CPA and Ken Gillette. Kathy’s area of expertise is tax and business planning, while Ken’s focus is financial business planning and payroll services.
Read More

Posted on

Avoid these 8 entrepreneurial time-wasters

Source: http://ohiocpa.com/news-resources/news/2017/11/13/avoid-these-8-entrepreneurial-time-wasters

Written on Nov 13, 2017

Here are eight time-wasters to avoid for a more productive and efficient workday:

1. Being unorganized
If you come into work every day without a clear plan, the hours will fly by without anything to show for it. At the end of each day, assess the items that must be accomplished tomorrow.

Assemble a list of priorities with the understanding that other urgent issues may come up later.Read More

Posted on

The tax strategy your company is missing

Written on Nov 02, 2017
By Jessica Salerno, OSCPA content manager
Source: https://ohiocpa.com/communities/news/2017/11/02/the-tax-strategy-your-company-is-missing

The secret to becoming a more dynamic, efficient organization could be in your tax strategy.

“True tax planning can sometimes be overlooked if one is just focused on tax compliance,” said Susan Allen, CPA/CITP, CGMA, senior manager with the AICPA Tax Practice & Ethics team.

An emerging area in the tax profession called “tax information and operations management” (TIOM) focuses on enabling tax operations to run as efficiently as possible to add business value. Tax is an evolving area, and this is about doing more than simply complying with tax regulations.

To start executing an effective TIOM strategy, Allen suggested assessing the systems you have in place and how those operations are managed. Talk with people at varying levels in different departments to hear how they think processes could be improved.

“Collaboration is so key,” Allen said. “To get the numbers right from a tax perspective, finance and tax need to be buddies at every stage.”
Read More

Posted on

Do you have a small business that you don’t have time for?

Facebook ad 1b

We specializing in:

CFO Services, Payroll, Accounting, Bookkeeping, Money Management and Tax Preparation

• Increase revenues
• Lower operating costs
• Lessen your tax liability
• Improve productivity
• Monitor profitability
• Implement internal controls

Your Small Business Partner