News from Ary Roepcke Mulchaey Certified Public Accountants

in the news

ARM BPFR team members attend the 24th Annual Benefits Forum & Expo.

ARM BPFR team members attended the 24th Annual Benefits Forum & Expo in Dallas, Texas on September 25-27, 2011. The Benefits Forum and Expo is the largest event in the nation solely dedicated to employee benefits.

ARM BPFR Booth ARM BPFR Team

Ary Roepcke Mulchaey, P.C. Announces New Staff Accountant

Ary Roepcke Mulchaey, P.C. is pleased to announce that Jennifer Miller, graduate of Capital University, will join the firm as a staff accountant in the audit department.

Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms.

BKR International Americas Regional Meeting

Leading accounting firm Ary Roepcke Mulchaey, P.C. (ARM) was among the 200 members attending BKR International’s Americas Regional Meeting in Québec City, Québec, Canada, May 20-24, 2011. ARM is an independent member of BKR International, a leading global association of accounting and business advisory firms. The theme of this year’s meeting was “Strengthening Your Competitive Advantage.”

Program content focused on firm improvement, resilience, and differentiation in the delivery of professional services. Topics ranged from updates on the ever-evolving accounting and auditing rules and regulations to earning client loyalty and building firm resilience.

“By attending BKR’s Americas Regional Meeting, we’re confident that our firm is keeping current on all of the timely issues that affect our clients, our firm, and the profession,” said Richard Ary, CPA, J.D., LL.M, CDFA. “As a result of learning about all of the new legislation in audit and tax as well as the latest technology to streamline services, ARM is now better able to service our clients and stay one step ahead of our competition.”

“We all came away from the conference with great ideas for proactive service and strategic innovation,” said Michael Savoy, BKR International regional chairman and managing director of the leading Los Angeles-based CPA firm Gumbiner Savett. “We need to continue to support our members in defining what it is that creates value for their clients, and then help them deliver that service better and faster than their competition.”

“Due to commodity price pressure on a global scale, our members now realize that the way to differentiate themselves is to focus not only on expanding specialized services to clients but to tailor the ways in which they deliver them to meet a client’s individual needs,” said Maureen Schwartz, BKR International Executive Director. “As members of BKR, our firms have the expertise available to help clients achieve their unique objectives virtually anywhere in the world.”

BKR International is a leading global association of independent accounting and business advisory firms representing the expertise of more than 135 member firms with over 300 offices in over 70 countries around the world. For more information visit: www.bkr.com.

Ary Roepcke Mulchaey, P.C. announces new staff

Ary Roepcke Mulchaey, P.C. is pleased to announce that Alyss Carpenter and Chelsea Ruoff, graduates of Capital University, have joined the firm as staff accountants in the tax department. Jessica Hoyle has accepted a full-time position as a staff accountant is the audit department and will start in January 2011. Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms.

Ary Roepcke Mulchaey, P.C. Announces 2011 Winter Intern

Ary Roepcke Mulchaey, P.C. is pleased to announce that Jennifer Miller (Capital University) will be an intern with our firm starting January 2011.

Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms

William T. Vasil Earns Designation

William T. Vasil William T Vasil, CPA, CFP®, MAcc, CDFA, at Ary Roepcke Mulchaey, P.C. has been authorized by the Certified Financial Planner Board of Standards (CFP Board) to use the certification marks CFP®, Certified Financial Planner™ and CFP (with flame design)® in accordance with CFP Board certification and renewal requirements.

These marks identify those individuals who have met the rigorous experience and ethical requirements of the CFP Board, have successfully completed financial planning coursework and have passed the CFP® Certification Examination covering the following areas: the financial planning process, risk management, investments, tax planning and management, retirement and employee benefits, and estate planning. CFP® certificants also agree to meet ongoing continuing education requirements and to uphold CFP Board’s Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards.

CFP Board is a nonprofit certification organization with a mission to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. CFP Board owns the certification marks CFP®, Certified Financial Planner™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements. CFP Board currently authorizes more than 60,000 individuals to use these marks in the United States. For more about CFP Board, visit www.CFP.net.

Ary Roepcke Mulchaey, P.C. Announces New Staff Accountant

Ary Roepcke Mulchaey, P.C. is pleased to announce that Marissa Wilson, graduate of Capital University, will join the firm as a staff accountant in the tax department.

Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms.

Ary Roepcke Mulchaey, P.C. Announces 2010 Winter Interns

Ary Roepcke Mulchaey, P.C. is pleased to announce that Alyss Carpenter, Brenda Denlinger, Chelsea Ruoff, and Tatjana Taleff will be interns with our firm starting January 2010.

Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms.

Susan A. Moussi Earns Designation

Ary Roepcke Mulchaey, P.C. is proud to announce that Susan A. Moussi has successfully completed the certification process with the National Association of Certified Valuation Analysts (NACVA) to earn her designation of Certified Valuation Analyst (CVA).

In his announcement, NACVA Chief Executive Officer, Parnell Black, MBA, CPA, CVA, noted the “the designation is an indication to the professional community that Susan A. Moussi has met the association’s rigorous standards of professionalism, expertise, objectivity, and integrity in the field of business valuation, litigation support, and related consulting disciplines. She can be proud of the fact that NACVA’s CVA and AVA (Accredited Valuation Analyst) designations are the only valuation credentials accredited by the National Commission for Certifying Agencies (NCCA),” Black added.

Requirements to earn the Certified Valuation Analyst Designation include being a licensed Certified Public Accountant, completing NACVA’s five-day training program, and successfully completing the association’s comprehensive examination.

To maintain her certification as a Certified Valuation Analyst, Susan A. Moussi will be required to periodically obtain continuing professional education in areas related to business valuation and/or litigation consulting and participate in programs sponsored by NACVA that promote quality and adherence to industry standards.

Business valuations are most commonly required in conjunction with the purchase or sale of a business, succession planning, buy/sell agreements, charitable contributions, estate and gift taxes, and initial public offerings. In the litigation arena, valuations are often necessary in situations of business disruption, dissenting shareholder actions, divorce, and partner disputes.

The National Association of Certified Valuation Analysts is a global, professional association that supports the business valuation, litigation support, and fraud deterrence consulting disciplines within the CPA and professional communities.

Ary Roepcke Mulchaey, P.C. is a Columbus-based public accounting firm that takes pride in having many long-term client relationships. ARM provides tax, assurance, business consulting, litigation support, and business valuation services nationwide and is an exclusive central Ohio member of BKR International, an association of independently owned accounting, taxation, and business advisory firms.

Helping An Adult Child Buy a First Home

November 1, 2009

Economic and tax considerations make right now a favorable time for parents (and grandparents) who are willing and able to help their adult children make first-time home purchases. Home prices are low, interest rates are low, and the tax factors are almost unbelievably beneficial.

Beneficial Tax Factors

First-time Home Buyer Tax Credit. As a first-time home buyer, your adult child or adult grandchild may be entitled to a tax credit of 10% of the home's purchase price, up to $8,000 ($4,000 if they are married and do not file a joint return). The credit can be used to offset the child's entire federal income tax bill, including any AMT. Furthermore, since the credit is refundable, your child can collect in cash any amount leftover after his or her federal income tax bill has been reduced to zero. Better yet, he or she can get the refund right away (as opposed to waiting until the 2009 return is filed) by claiming the credit on the 2008 Form 1040 (or Form 1040X if the 2008 return has already been filed).

However, unless this benefit is extended by Congress, the credit is available only for home purchases completed by November 30, 2009. Also, the credit is phased out (reduced or completely eliminated) if your child's Modified Adjusted Gross Income (MAGI) is too high. The phase-out range is between MAGI of $150,000 and $170,000 for married joint filers and $75,000 and $95,000 for unmarried individuals and married individuals who file separately.

0% Capital Gains Rate. For 2009, taxpayers in the 10% and 15% tax brackets for regular taxable income will enjoy a 0% tax rate on long term capital gains. Thus, your child won't pay any federal income taxes on any long-term capital gains they realize this year to the extent his or her taxable income (including long-term capital gains) does not exceed $67,900 if married and file jointly, $45,500 if head of household, or $33,950 if single. So, if the child's income (after the standard deduction and personal exemptions) will fall in this range in 2009 and you hold appreciated stocks and mutual fund shares in taxable brokerage firm accounts, you could give him or her some shares. They can then sell them and use the proceeds to help finance their home purchase. Gains will be long-term (and federally income tax free) if your ownership period plus theirs is over a year.

As long as the stock you give your child this year is worth $13,000 or less (when combined with any other gifts to the same child this year), your taxable estate is reduced with out any adverse federal gift or estate tax consequences-thanks to the annual gift tax exclusion privilege ($13,000 for 2009 gifts). Married taxpayers can double this amount-they can give up to $26,000 this year without triggering adverse estate and gift tax consequences.

Low Federal Interest Rates. If additional funds are needed for your child to purchase his or her first home, you might want to consider loaning the additional funds to them. Now is a very good time for taking this step too. With loans between family members, the Applicable Federal Rate (AFR) is a big deal. Why? Because that's the rate the lending parent can charge without causing any unwanted tax complications. Right now AFRs are very low by historical standards, so making a loan that charges the AFR is a great way for a parental lender to give an adult child borrower a favorable deal without having to deal with the complicated below-market loan rules.

Please give us a call if you would like more information on capitalizing on today's favorable tax factors to help your child (or grandchild) purchase their first home.

Accounting Firm Partners Learn How To Best Help Clients Plan For Recovery

Columbus, Ohio, June 3, 2009. Richard Ary and Eric Mulchaey of Ary Roepcke Mulchaey, P.C. have recently returned from BKR International’s Annual Regional Meeting entitled, “Leading Your Firm Through Turbulent Times,” which focused on the challenges that accounting firms and their clients are facing and the decisions and strategies leaders must take to steer a steady course into recovery.

Representatives from more than 60 BKR firms throughout North, South, and Central America gathered in Orlando, Florida, to explore ways to help clients manage their businesses in tough economic times, learn about new rules and regulations, and develop and train their people

The meeting featured a keynote presentation by the president and CEO of the American Institute of CPA’s, Barry Melancon. Melancon addressed the key and emerging issues affecting the accounting profession today, including the almost $8 billion Recovery and Reinvestment Act, the globalization of businesses and impending conversion to IFRS, the ease and freeze on staffing, and the need for specialization.

“We are in unprecedented times,” said Don Timmins, the Americas regional chairman of BKR International. “More than ever before, we need to be proactive in helping our clients survive the economic downturn, yet be ready to shift gears quickly to take advantage of opportunities when the economy starts to recover.”

The meeting also featured one of the accounting profession’s major influencers, Sam Allred. Allred discussed how challenging times provide accounting firm partners with a great opportunity to lead their firms to higher ground. “While good times produce lots of wonderful things, they seldom build stronger firms,” said Allred. “It takes turbulent times, such as we’re experiencing now, to do that. Tough times produce unparalleled opportunities.”

“Being together with colleagues and brainstorming ideas on how to guide our clients in these challenging economic times has never been more valuable,” said Eric Mulchaey, Partner of Ary Roepcke Mulchaey. “All of us are committed to providing our clients with sound, objective business advice, and the opportunity to exchange information with like-minded professionals around the country gives us a competitive edge.”

About BKR An association of independent accounting and business advisory firms, BKR International represents the combined expertise of more than 135 member firms with 300 offices in over 70 countries around the world. For more information, visit www.bkr.com.

published articles

W-2s, Tax Returns, and Earnings (PDF)
When you need to determine an employee's income, do you rely on obtaining that information from W-2s? Do you look to Form 1040, line 7 of past tax returns? READ ARTICLE

Potential Tax Consequences Related to Asset Allocation (PDF)
In general, there are no immediate tax consequences as a result of the division of your marital assets. However, it's very likely that there are tax consequences lurking, waiting for you in the future.

Tax Issues in the Year of Divorce (PDF)
Thoughts about appropriate allocations.

Financial Planning and Tax FAQ's
Answers to common questions about the tax implications of divorce.