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Investment swings: What’s the tax impact?

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to...

Spouse-run businesses face special tax issues

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless...

Navigating the percentage-of-completion method

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works. Completed contract vs....

Plan now for year-end gifts with the gift tax annual exclusion

Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate,...

Update on depreciating business assets

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments for 2023 were big. Here are the numbers that small business owners need to...

Financial statements at a glance

Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and accountability. But they can also be used internally to help management make strategic decisions, improve upon past results and...

Selling your home for a big profit? Here are the tax rules

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher...

Divorcing business owners should pay attention to the tax consequences

If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and in many cases, your marital...

New report identifies high-risk areas in financial reporting

In July 2023, the Public Company Accounting Oversight Board (PCAOB) published a report that highlights common areas of audit deficiencies for public companies. Private companies face similar challenges when reporting their financial results. Internal accounting...

The tax consequences of employer-provided life insurance

If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of your benefits package, and the coverage is higher than $50,000, there may be undesirable income tax implications. You’re...

2020 W-4 Withholding Estimator

Investment swings: What’s the tax impact?

by eseco | September 14, 2023 | Individual Tax | 0 Comments

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to...

Spouse-run businesses face special tax issues

by eseco | September 14, 2023 | Small Business Tax | 0 Comments

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless...

Navigating the percentage-of-completion method

by eseco | September 14, 2023 | Accounting & Audit | 0 Comments

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works. Completed contract vs....

Plan now for year-end gifts with the gift tax annual exclusion

by eseco | September 7, 2023 | Individual Tax | 0 Comments

Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate,...

Update on depreciating business assets

by eseco | September 7, 2023 | Small Business Tax | 0 Comments

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments for 2023 were big. Here are the numbers that small business owners need to...

Financial statements at a glance

by eseco | September 7, 2023 | Accounting & Audit | 0 Comments

Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and accountability. But they can also be used internally to help management make strategic decisions, improve upon past results and...

Selling your home for a big profit? Here are the tax rules

by eseco | August 31, 2023 | Individual Tax | 0 Comments

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher...

Divorcing business owners should pay attention to the tax consequences

by eseco | August 31, 2023 | Small Business Tax | 0 Comments

If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and in many cases, your marital...

New report identifies high-risk areas in financial reporting

by eseco | August 31, 2023 | Accounting & Audit | 0 Comments

In July 2023, the Public Company Accounting Oversight Board (PCAOB) published a report that highlights common areas of audit deficiencies for public companies. Private companies face similar challenges when reporting their financial results. Internal accounting...

The tax consequences of employer-provided life insurance

by eseco | August 23, 2023 | Individual Tax | 0 Comments

If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of your benefits package, and the coverage is higher than $50,000, there may be undesirable income tax implications. You’re...

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Hours

Monday – Friday: 8:00 AM – 4:30 PM

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Contact Us

Phone: 419.223.3075
Fax: 419.222.8507

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205 West Elm Street, Lima, OH 45801

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Your most trusted business advisor.

}

Hours

Monday – Friday: 8:00 AM – 4:30 PM

w

Contact Us

Phone: 419.223.3075
Fax: 419.222.8507

askus@esevans.com

205 West Elm Street, Lima, OH 45801

A

Client Login

Click here to login to our secure portal.

Your most trusted business advisor.

Maximizing your success in a changing world.

Built from the past, working in the present, preparing for the future.

A pillar of the Lima community since the 1920’s, our firm provides professional accounting and advisory services to the Greater Lima Region and beyond. Our collective expertise, experience, and education can prove invaluable to your success.

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Tax Planning & Preparation

Tax planning and compliance is of the utmost importance to our firm. Our years of experience along with our pro-active approach allow us to provide our individual and business clients with the tax expertise and knowledge that they deserve. We will work with you to minimize both your current and future tax liabilities.

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Accounting & Auditing

We offer complete accounting and auditing services. We prepare financial statements, perform traditional audits, reviews, compilations and prepare projections and forecasts.

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We advise clients on a wide variety of individual and business needs including, but not limited to, business valuations and succession planning, long range and strategic planning, accounting system implementation, internal control structure review, and fraud examination needs.

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Investment swings: What’s the tax impact?

Sep 14, 2023

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to...

Spouse-run businesses face special tax issues

Sep 14, 2023

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless...

Navigating the percentage-of-completion method

Sep 14, 2023

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works. Completed contract vs....