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    Important Industry News & Helpful Tips

What is Outsourced Accounting at GJM?

The COVID-19 pandemic has changed the way we work and created even more dire staffing shortages for businesses around the country. It’s possible there’s a new way to approach staffing when it comes to your internal accounting needs. Enter Outsourced Accounting at GJM.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.

Important Updates for Businesses Related to Covid Relief Programs

PPP and ERC Update

Paycheck Protection Program (PPP)

If your business is one of the many that took advantage of the Small Business Administration’s Paycheck Protection Program (PPP) during the Covid-19 pandemic, we have an important update. Some businesses that applied for first round PPP loans are running out of time to apply for loan forgiveness. It depends on the dates of your covered period as part of the PPP loan. Borrowers must apply for forgiveness within 10 months of the last day of their covered period. That could be later this month for some. Be sure to speak with your GJM team if your business has yet to file for forgiveness or reach out to your lender for clarification. If you fail to apply for forgiveness, the PPP loan will be treated as a non-forgivable loan that your business must pay back.

Employee Retention Credit (ERC)

The IRS has come out with some clarification on guidelines for businesses taking advantage of the Employee Retention Credit.  As the extended tax deadline approaches for businesses to file their 2020 federal tax returns, now is the time to iron out how your business plans to utilize the ERC. Something else to keep in mind: new infrastructure legislation introduced in early August may impact how your business utilizes ERC. As the bill stands now, it is possible that ERC may no longer apply in the fourth quarter of 2021. The IRS has provided a brief summary of some key changes, as well as the entire notice (IRS Notice 2021-49), which you can access at this link.

Should you have any questions about your PPP forgiveness process, ERC, or other updates to pandemic relief programs for your business or organization, don’t hesitate to reach out to your GJM client service team to discuss.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.   

Gilmore Jasion Mahler Announces Several Promotions

Gilmore Jasion Mahler, LTD (GJM) is pleased to announce a number of staff promotions in both the Maumee and Findlay offices, effective July 1, 2021.

Caitlin Bainter, CPA and Amanda Lewis, CPA have been promoted to Senior Manager. Ryan Avery, CPA, Ryan Emerson, CPA and Mackenzie Gross, CPA have been promoted to Manager. Adam Larkins, CPA, Alyssa Lecurgo, Dana Lumbrezer, CPA and Chris Scherley are promoted to Supervisor and Cassi Cronin, CPA, Emily Eckroth, CPA, Thomas Keyser, Hayden Neese and Grace Reddick, CPA are promoted to Senior Associate. 

“These promotions reflect hard work, dedication and commitment. The past year has been anything but normal. Our staff, including all those promoted this month, have done a remarkable job of staying focused, getting the work done and staying connected as a team,” says Managing Partner Kevin Gilmore. “It is gratifying to see our staff advance in their careers and professional development.”  

There are currently several opportunities at GJM for those just beginning their careers, and for more experienced professionals in tax, assurance, and risk advisory. Learn more at GJMLTD.com/careers.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting services and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.

OHFA Tax Credit Application Not Funded? Here’s What to Do. - VIDEO

Early summer is when the Ohio Housing Finance Agency announces its awards of low-income housing tax credits. If your application wasn’t funded, you’re not alone – the awards are very competitive and only about one third of applications get funding. If you find yourself with an unfunded application and you’re wondering what to do with your project, GJM’s Ken Saggese, CPA has some ideas on what to do next.

Some other suggestions from Ken: discuss with your project team various ways you might be able to improve your application’s score or its tie-breaks. Compare your project’s score to the scores of others that were awarded – OHFA’s Qualified Allocation Plan (QAP) will give details about how each part of your score is calculated. And maybe the secret ingredient is the simple step of engaging with the community stakeholders where your project is located, to get more positive grassroots support. Talk with GJM’s affordable housing team or your trusted advisor before giving up on a promising project.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.

Gilmore Jasion Mahler Names New Partners, Senior Manager

Gilmore Jasion Mahler (GJM) Managing Partner Kevin Gilmore recently announced some exciting changes in the firm’s leadership team. Jamie Dixon, CPA and Matt Hoverman, CISA have been promoted to partner and Jessica Nunn, CPA has been promoted to senior manager.

Dixon is a member of GJM’s Healthcare Specialist Team. He also took on the role as GJM’s firm administrator in 2020. He has over thirty years of experience in both private and public accounting, providing consulting services to a broad range of healthcare entities, specializing in home health and long-term care. He has been with GJM since 2013. 

 

Matt Hoverman’s expertise is in risk advisory. He has over two decades of professional services experience in systems implementation, information security, internal and external audit, risk management, compliance, and management consulting across multiple industries. Matt joined GJM in 2016 and has since built a team offering risk advisory services.

 

Jessica Nunn is a member of the firm’s Manufacturing Specialist Team. She specializes in for-profit entities and has over a decade of public accounting experience at Gilmore Jasion Mahler. She’s been responsible for tax planning, preparation, and review of tax returns, in addition to general consulting largely related to corporate and multi-state tax issues.

 

“Congratulations to Jamie, Matt and Jessica on their well-deserved promotions,” says GJM Managing Partner Kevin Gilmore. “I’d also like to thank them, and all of our staff for the incredible work they’ve done over the past year helping our clients through all of the uncertainty brought on by the pandemic. We know our clients need our guidance now, perhaps more than ever.”

The promotions were effective January 1, 2021. 

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.