mback@inovautus.com, Author at Payne Nickles & Company - Ohio Accounting Firm, Business CPAs & Advisors

4 Tax Planning Opportunities You Might Be Overlooking – The SEP IRA

At Payne Nickles & Company, our mission is to provide forward-looking, client-oriented professional accounting and advisory services. That means we’re here not just to help you file tax returns, find deductions, and stay compliant each year—but also to guide you toward proactive financial strategies that make a real impact. Over the next few months, we’re …

Bringing financial clarity and leadership to growing businesses—without the full-time hire. As a business owner, you must juggle operations, manage people, plan for growth, and closely monitor your financials. But in today’s environment, basic bookkeeping isn’t enough. More than ever, businesses need financial leadership—someone who can interpret the numbers, identify risks, and guide decision-making. In …

Growth is exciting as a business owner, but it also brings added complexity to your tax situation. Expansion may mean hiring new staff, entering new markets, or investing in new assets. Without proper planning, these changes can increase your tax burden and limit the capital you have available to reinvest. The good news? With proactive …

Construction business owners are no strangers to workforce challenges. Skilled labor is hard to find—and even harder to keep. More contractors are exploring profit-sharing to reward performance, reduce turnover, and tie compensation to results. However, to be practical, a profit-sharing plan must do more than hand out bonuses. It should align with your business goals, …

At some point, nearly every business owner faces a common question: How do I fund the next growth stage? Whether you’re eyeing new equipment, a larger space, or need extra cash flow, choosing the right kind of financing is a big decision that shapes your business well beyond the initial investment. Business owners typically consider …

With inflation constantly driving up costs, businesses must be innovative about pricing to keep their profits intact while staying competitive. Rising expenses—labor, materials, or supply chain disruptions—can quickly eat away at margins. The key is to be proactive and strategic in pricing decisions to protect your bottom line and keep customers on board. This article …

Running a business comes with constant financial decisions, having the right tools to understand where your money is going can make all the difference. Financial dashboards are a game-changer, giving business owners real-time insights into their company’s financial health. With all critical financial data in one easy-to-read format, these dashboards help track performance, increase profitability, …

Every business strives to grow its profits, but achieving this requires a clear understanding of the numbers behind operations. One of the most important figures in this process is the Cost of Goods Sold (COGS). This financial measure captures the expenses directly tied to creating or purchasing a company’s products or services. Understanding how COGS …

Every year, the IRS adjusts tax rules to account for inflation. These changes are meant to ensure fairness and prevent people from paying more taxes solely because of rising costs. For 2025, the IRS has updated tax brackets, deductions, credits, and more. Here’s a simple explanation of what’s new and how it might affect you. …

If you’ve been trading or holding digital assets, some significant tax changes are heading your way, and they could shake up how you track and report your transactions. Starting January 1, 2025, the universal accounting method is going away. In its place, the IRS is introducing a wallet-by-wallet approach—and they’re offering a one-time safe harbor …