Additional information about the $1 billion rebate includes:

• The mailing of rebate checks is estimated for late June and July 2013.
• The rebate will be 56% of the gross premium paid for the 2011 policy period that covered July 1, 2011 through June 30, 2012 for private employers, and January 1, 2011 through December 31, 2011 for public employers.
• Employers who canceled coverage prior to April 1, 2013 will not be eligible for the rebate.
• Employers granted self-insurance before April 1, 2013 who paid a premium in the 2011 policy year will be eligible for the rebate based on their billed premiums during the 2011 policy year.
• Rebates will be treated as a one-time payment. No adjustments will be made to the rebate amount for any reason.

If you have any questions regarding the OH BWC rebates, here is a link to an informative article: https://www.ohiobwc.com/home/current/releases/2013/050213.asp.

The post The Ohio BWC Approves $1 Billion Rebate appeared first on Cassady Schiller - Cincinnati CPA.

 June 13, 2013

For Immediate Release

Cincinnati CPA Firm Cassady Schiller Reorganizes Leadership

CINCINNATI, OHIO – June 13, 2013 – Cassady Schiller, a leading Cincinnati CPA and Advisory firm located in the greater Cincinnati area, has announced a reorganization of leadership within the firm.  The reorganization is a result of continued growth and the desire to maximize the effectiveness of each professional within the firm. With this reorganization, Cassady Schiller has strengthened their commitment to being the CPA & Advisory firm of choice in the greater Cincinnati area and delivering financial peace of mind to business and family clients.  As a result of the reorganization, a new Managing Partner and Chief Strategic Officer have been announced.

David Cassady, co-founder of Cassady Schiller, has been named Managing Partner. As Managing Partner, David Cassady will drive the advancement of the organization by developing the people and culture of the firm. His responsibilities will also include the day to day management of the firm, including supporting the Chief Financial Officer. Cassady will work to grow the firm through balanced investment in the growth of people, client opportunities, and services.

Bob Schiller, co-founder of Cassady Schiller, has been named Chief Strategic Officer.  As Chief Strategic Officer, Bob Schiller will drive the overall strategic direction of the firm, ensuring that the firm continues to move forward towards a clear, unified vision.  Schiller will oversee revenue growth and business development activities, manage overall risk and quality control. Schiller will also work to maintain and grow strategic relationships.

“We are excited about these changes and how they will help us continue to grow an organization that is focused on client service. We strongly believe that this reorganization will maximize the contribution of our leadership, putting David and myself in positions to enhance the value we bring to our people and our clients,” commented Schiller.  “We believe that as we continue to grow, these changes will allow us to focus on the development of our people and our culture, while continuing to deliver the relationship driven services that provide financial peace of mind to our clients,” added Cassady.

Cassady Schiller, established in 1990, is a team of more than 40 professionals dedicated to building relationships with their clients. Providing tax, accounting and consulting services in Cincinnati, Cassady Schiller also offers financial services, business valuations, merger and acquisitions, due diligence, family business planning and management consulting.

###

The post David Cassady Named Managing Partner; Bob Schiller Chief Strategic Officer appeared first on Cassady Schiller - Cincinnati CPA.

The post Cassady Schiller Team Supports Tornado Relief Efforts appeared first on Cassady Schiller - Cincinnati CPA.

8:00am – 10:30am

Cassady Schiller Offices

Part 1. Accounting

• Implementation Guide for FRF for SMEs

Part 2. Auditing

• Continuous and Paperless Auditing

Part 3. Small Business

• Related Party Transactions and Disclosures

The post In-House A&A CPE appeared first on Cassady Schiller - Cincinnati CPA.

8:00am – 10:30am

Cassady Schiller Offices

Part 1. Current Developments

• Experts’ Forum

Part 2. Individual Taxation

• Effect of Insurer’s Denial of Claim on Casualty Loss
• Seventh Circuit Addresses Required Records Doctrine and      Foreign Bank Records
• Expenses to Protect S Corp’s Reputation (and Sole      Shareholder)

Part 3. Business Taxation

• IRS Expands Voluntary Worker Classification Settlement      Program
• Determination of Partner Status
• Update on Proposed Repair Regs
• Deduction for Accrued Bonuses

Part 4. Special Topics

• Structuring a Family Limited Partnership
• Tax Consequences of Below-Market Stock Redemption

Conclusion

The post In-House Tax CPE appeared first on Cassady Schiller - Cincinnati CPA.

The post Financial Peace of Mind Newsletter, Volume 15 appeared first on Cassady Schiller - Cincinnati CPA.

As CFO, Heather will lead our internal financial management, human resources, informational technology, and administration support at Cassady Schiller, working closely with the partner group as they continue to grow the firm, enhance client service, and bring financial peace of mind to our valued clients.

The post Heather Bucher Promoted to CFO appeared first on Cassady Schiller - Cincinnati CPA.

Creating a board of advisors is a key asset that begins with making sure you find the best people to join. Failure to take this process seriously can result in problems relating to oversight of management activities, delays in decision making and missed opportunities.  In many instances, companies fail to pay sufficient attention to the board-recruitment process, resulting in a group of advisors who are poorly trained and lacking the specific skills most needed.

I strongly recommend to founders and other senior executives that they take the time to develop and implement guidelines for an orderly recruiting and selection of board of advisor members.

One simple but often neglected step in board development is creating a description of the duties and expectations of advisors. It’s like a job description and should be written in a manner that informs candidates about the types of behaviors that will be expected of them. Consider the following list as an example:

• Attend regular meetings of the company’s board of advisors, which are held four times per year and which generally extend for about three hours each.
• Be accessible for personal contact with other board members and company officers between board meetings, as needed.
• Provide open and honest feedback to the company officers.
• Participate in an annual self-review process.
• Participate in the annual dinner and planning meeting for the advisory board.  This may be in addition to the other four meetings.
• In general, use your personal and professional skills, relationships, experiences and knowledge to advance the interests and prospects of the company.

To build your board, strongly consider the following:

• The board should be made up of three to five outsiders. Two people can try to find mutual agreement. With three, an advisor can afford to take chances. And a group of more than five tends to dramatically reduce productivity.
• Look for people who have already experienced what you are about to experience.  If you’re a service business, two of your three outside advisors should be from service businesses.
• The advisory board should be at the level you want to go to, rather than the level you’re at currently.  Members should have experience building a business, not merely running one. Don’t make the mistake of recruiting a highly visible executive from a big company.
• The matter of compensation is tricky. Some believe it is entirely unnecessary, but I believe you should compensate them fairly for their time.  You want people who are attracted to the type of business that you’re building. Some form of compensation — even token — tends to sharpen an advisor’s sense of responsibility and commitment. One way is to calculate your base hourly rate and pay your board members for their time at that rate. (Assume prep time is equal to meeting time.)

Unlike a board of directors, which has formal legal authority over a company and a fiduciary duty to its shareholders, an advisory board won’t make decisions for management and has no obligation to the owners or liability for the company’s actions. That said, if you’re not willing to execute the advice of the board, then you’d better not put one together. The greatest disrespect to a board, having given you a commitment of their time, is taking their time and doing nothing with it. Not only will you lose credibility with that board but with future board members as well.

The post How to Build a Great Board of Advisors appeared first on Cassady Schiller - Cincinnati CPA.

“We knew we could do it better – hands-on personal responsive service coupled with treating our co-workers like family,” he said. Their vision was to be recognized as the CPA and advisory firm of choice and to help their clients create financial peace of mind.

Cassady Schiller grew by double-digit percentages for the first 17 years of existence. Although the recession in 2009 and 2010 brought the growth model down to single digits, “we felt fortunate to still have minimal growth in those times,” he said. The firm had a strong 2012 with a significant rise in revenues and he expects to sustain incremental growth again in 2013.

To continue reading, click here to view full article on Business Courier’s website.

The post David Cassady Discusses Retaining Talent in Business Courier appeared first on Cassady Schiller - Cincinnati CPA.

June 20th featured panelists:

• David Cassady, managing partner, Cassady Schiller
• Dr. Robyn Chatman, president, Academy of Medicine of Cincinnati; Beacon medical director, HealthBridge
• Paul Kitzmiller, president, Core Resources Inc.
• Liza Smitherman, president, Brewster Pumping LLC;  vice president of professional development, Jostin Construction Inc.

This event will be held at the Taft Center at Fountain Square.

7:00 a.m. - Networking & Breakfast
8:00 a.m. – Program Begins
9:15 a.m. – Program Concludes

Tickets are $25 each and are non-refundable.  The deadline to register is June 13. Tickets purchased after June 13, if available, will be $35.

Register Today

For more information, contact Lisa Muhlenkamp at 513-337-9467 or lmuhlenkamp@bizjournals.com

The post Register to Hear David Cassady Speak at Courier’s Business Owner Insight appeared first on Cassady Schiller - Cincinnati CPA.