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Midyear Alert from Clark Schaefer Hackett

June 27, 2012


Dear clients and friends of the firm,

One of the goals of our firm is to keep you apprised of trends, issues and news that may impact you or your business. With this in mind, we are pleased to introduce this new publication which will focus on topics of importance to the individuals and small-to-mid-size companies we serve. We’re mindful of the time constraints facing our clients, so our articles will be timely, relevant and concise. To facilitate tax planning, this publication will come out twice a year, at midyear and year-end. We will also keep you informed throughout the year on key regulatory updates. As always, our team stands ready to answer questions or provide additional guidance on the myriad of financial, accounting and tax challenges facing individuals and businesses today.

Best regards,

R. Daniel Fales,  CPA/JD
Chair – Clark Schaefer Hackett Tax Department
[email protected]


Estate law tax uncertainty

Keeping your plan on track

If Congress allows current rates and exemptions to expire at the end of 2012 as scheduled, your family could lose significant amounts of wealth to gift, estate and generation-skipping transfer (GST) taxes. Because of this uncertainty with estate tax laws, you need to make sure you’re on the right track. Larry Powell and Mark Gaudet discuss whether it is advisable to make gifts this year


Increased IRS audit activity and harsh results




Ready to retire?

An ESOP can help pave the way

How can you convert some of that wealth into cash to help pay for your retirement? Many C corporation owners have found that an Employee Stock Ownership Plan (ESOP) — a qualified retirement plan, similar to a profit sharing or 401(k) plan — can help pave the way to a comfortable future. Bill Edwards covers the nuts and bolts


Play by the new rules

Follow the new cost basis rules when reporting stock sales

A major change to the “cost basis” reporting rules recently kicked in regarding the amount of information that is supplied to the IRS about investors’ activities. Paul Bendik covers basis reporting rules and provides an explanation of six cost basis methods


Don’t miss out on important tax, business and estate news

Make sure we have your up-to-date contact information 

From the European debt crisis to the lead-up to the presidential election, the coming months will be filled with socio-economic and political change. We want to help our clients separate fact from fiction. Please take just a moment to make sure we have the key information we need to keep you informed and customize the information you wish to receive. Update your information with us



Make a note of the new address for our Dayton and Middletown personnel

On July 2nd, we will open our new Miami Valley office at Austin Landing, a mixed-use development located at I-75’s exit 41, just south of Dayton. The planned 20,000 square feet of space on the top floor of a newly constructed office building will house approximately 80 Clark Schaefer Hackett associates formerly of the firm’s Middletown and Dayton offices. The Miami Valley office will be a firmwide center of expertise. It will also be a collaborative environment for associates with specialties in Estate, Trust, and Succession Planning, Not-For-Profit Organizations, and Small Business Solutions, among others. Learn more about our upcoming move to Austin Landing

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.


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