Frank J. Schlitt, Jr. Partner

          Offutt Barton Schlitt, LLC, has welcomed Frank J. Schlitt, Jr., CPA, CFF, as a partner. Frank joined the firm in 2013 and is part of the firm’s accounting services, forensic, tax and business consulting practice. Frank received his...

True Ups on Business Sale/Acquisition

True Ups on Business Sale/Acquisition Every business sale/acquisition has various “true ups” that occur, usually handled as working capital adjustments.   A recent article written by James A. Beindorf, CPA, CVA, CFF, discusses adjustments professionals need to be...

IRS Scam Phone Calls May Be Alarming

There has been an increase recently in scam voicemails or phone calls from persons  claiming to be from the IRS.  The calls are mentioning warrants for the arrest of the taxpayers, back taxes due and other frightening tax complications.  The IRS continues to warn the...

Mid-Year Tax Records Clean Up

As we round the corner into fall, it’s a good time to start thinking about records you will need for next year’s taxes.  Certain expenses that are eligible for tax credits or deductions are often concentrated in the summer months.  See details at the IRS...

Tax Impacts of Health Care Act Outlined

For all taxpayers who need assistance determining how the Affordable Health Care Act will impact them, the IRS has created a new Website as a self-guided resource: http://www.irs.gov/uac/Newsroom/IRS-Website-Explains-Tax-Provisions-of-the-Health-Care-Law One of our...

Reduce Your Taxes!

Itemizing deductions is one way to reduce your taxes, and there are some miscellaneous deductions that you should consider: http://www.irs.gov/uac/Newsroom/Reduce-Your-Taxes-with-Miscellaneous-Deductions Call our office for a consultation to determine which of these...

Eight Tips if You Owe Taxes

When your tax return is filed, if you owe taxes, there are several payment options for you to select between.   Click the link below to see the IRS’ eight tips for taxpayers: http://www.irs.gov/uac/Newsroom/Eight-Tips-for-Taxpayers-Who-Owe-Taxes CPAs in our...

Home Office Deduction

If you are working from home and want to take advantage of the home office deduction, you no longer have to keep detailed records of certain expenses and prorate these by the square foot.   The IRS has a simplified method available starting with your year 2013 tax...