Coolidge Wall Co., L.P.A.
Phone : 937-608-9464 | Toll Free : 877-422-0702

February 2014 Archives

Use Caution When Choosing a Fiduciary

A well-publicized case out of Summit County highlights the importance of choosing your fiduciary wisely. Former radio personality Howie Chizek died in June 2012, leaving an estate with an estimated value of $1.6 million. The executor for his estate was an attorney named Charles M. Morgan. In addition to filing important probate documents late, the executor failed to file Ohio estate taxes, allowing interest and penalties to accrue for months after the estate tax return should have been filed.

Facing an Excessive Property Valuation as Tax Season Approaches? Fear Not! A Tax Appeal May Lessen Your Tax Burden

As the deadline to pay real estate taxes for the first half of 2013 rapidly approaches, property owners may suddenly question the County's valuation of their property. Why is valuation important? Because a property's valuation is a significant factor relative to determining the real estate taxes associated with that property. Disagree with the County's valuation? You may wish to consider whether filing a Complaint Against the Valuation of Property (also known as a real estate tax appeal or real estate tax complaint) makes sense for you and your property.

Payroll Reporting in Asset Acquisitions: Revenue Procedure 2004-53

With the flurry of activity that occurs during an asset purchase transaction, it is not uncommon to overlook the details involved with coordinating the payroll reporting for employees that are acquired or hired by the purchaser. As with most issues in an asset purchase transaction, it is preferable for the parties to address the issue directly in the asset purchase agreement. Planning ahead reduces the chances for missed filing deadlines and associated penalties and interest.