Local Office Blogs

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July 7, 2015

Mark Baricos, Managing Director for the Memphis office, recently shared “3 Post-Tax Season Tangible Property Takeaways” for AccountingWEB. These few key takeaways follow the first tax filing in which Tangible Property Regulations were mandated:

1. TPRs will continue to be an issue that taxpayers face annually, as they review how certain expenditures should be treated (expensed versus capitalized and depreciated).

2. TPRs will continue to have a significant impact on certain industries.

3. TPRs will require proper internal controls related to the treatment of capital expenditures.

Mark also shares a few questions and best practices to consider as you plan tax compliance strategies.

To read the full article, click here.

For more information regarding how the Tangible Property Regulations may affect your business or tax filing, feel free to contact Mark at mbaricos@cbiz.com

July 2, 2015

The National CBIZ Women’s Advantage (CWA) Executive Board attended their annual meeting in Chicago this past month. The Board is comprised of 25 CBIZ MHM women professionals from across the nation, including our own Linda Lauer and Megan Murdock.

Upon arrival to the Windy City, special guest, CEO Steve Gerard, greeted the women at a private dinner. Nancy Mellard, National Leader, CBIZ Women’s Advantage, presented Gerard with the CWA “Glass Slipper” Award for his years of Leadership, Vision, and Support. 

The three day event included sessions on 2015 goals, professional and business development, national community outreach, recruitment and retention, marketing initiatives, and practice group updates.

Outside of their group sessions, the women attended an architectural boat tour.

If you would like further information regarding the Memphis activities of CBIZ Women’s Advantage, please contact Linda Lauer at llauer@cbiz.com or 901.685.5575.

June 30, 2015

We are pleased to announce the appointment of Lloyd Grissinger as Tax Practice Leader (TPL) for our Memphis office.

Lloyd will be responsible for practice growth, financial management, quality control, risk management, and operational matters as well as personnel development. He will maintain active client service and engagement management responsibilities. 

“The role of Tax Practice Leader is critical to our overall success in growing our people and meeting the needs of our clients.  We continue to drive our focus on areas of specialization for growth and tax services is a high priority service line.  Lloyd is certainly recognized by his peers and clients as a high impact leader with a passion for tax services,” said Eustis Corrigan, Senior Managing Director, CBIZ MHM. “We look forward to executing our growth strategy and continuing to be a leading provider of tax, attest and risk advisory services in the Mid-South.”

Lloyd has been an integral member of the Memphis practice for 19 years mostly serving large, closely-held businesses, with operations in multiple states and countries. He assumes the TPL role from Eustis, who has served in that capacity since January 2014. Eustis will continue in the role of Senior Managing Director for the Memphis office.

Lloyd received his Bachelors in Accountancy and Masters of Accountancy in Tax from the University of Mississippi. He is a Certified Public Accountant (CPA). Lloyd volunteers with Second Presbyterian Church and Memphis Grid Iron Ministries helping coach 3rd-5th grade football teams.

June 25, 2015

The Supreme Court has upheld the law in the case of King v Burwell, making the Affordable Care Act subsidies valid in all 50 states.  The ruling comes after much anticipation as noted in our blog post earlier this week. In a 6-3 decision, premium tax subsidies in both the state and federal marketplaces will continue to be available. This ruling is the second time the Supreme Court has ruled in favor of Obamacare, saving a major piece of the ACA.

Going forward businesses should also make sure they are in compliance with the ACA reporting requirements which will be due January 31st and February 28th of next year. 

The ACA continues to be ever-changing. Keep up to date by subscribing to our blog. For further questions regarding the ACA, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685.5575.

June 22, 2015

The Supreme Court is wrapping up its October 2015 term, and one of the expected key decisions is the court's ruling in KING V. BURWELL (14-114) by the end of this month. At issue is whether the IRS regulations extending tax-credit subsidies to coverage offered through federal Exchanges is appropriate.  Section 36B of the Internal Revenue Code was enacted as part of the Patient Protection and Affordable Care Act ("ACA") and authorizes federal tax-credit subsidies for health insurance acquired through an "Exchange established by the State under section 1311" of the ACA.

As of today, it appears that KING V. BURWELL will be part of the last grouping of decisions released.  Many analysts expect a split court with the outcome riding on Justices Kennedy and Roberts.  A finding that the IRS’s regulations are invalid would have a significant impact on 6.4 million Americans living in 34 states who have acquired health insurance through federal exchanges.  The NY Times recently published an article, The Health Care Supreme Court Case: Who Would Be Affected?, which summarizes the affects following a decision against subsidies in the federal marketplace.

Keep in mind the reform is ever-changing. To keep up to date, subscribe to our blog. For further questions regarding the ACA, please contact Steve Dunavant at sdunavant@cbiz.com or (901) 685.5575.


June 11, 2015

The Memphis Business Journal is gearing up for its Fourth Annual Super Women in Business Awards. Nominations are now open and the deadline to submit is Friday, June 26. You can submit your nomination via the MBJ website by clicking here

As a sponsor since the awards inception, CBIZ MHM Memphis, is proud to recognize the most influential business women in the Mid-South.

Megan Murdock, Memphis Marketing Manager and member of the CBIZ Women's Advantage National Executive Board comments, "As a business who connects strongly to the development of women professionals, we take pride in sponsoring this great event hosted by the Memphis Business Journal. Our own CBIZ Women's Advantage promotes women in business both internally through our professional networking circle groups and externally through participation in events like the Super Women in Business Awards."

May 26, 2015

After a long busy season, the Memphis office of CBIZ MHM wound down with food, beverages, and a few games of cornhole at Wiseacre Brewery







Following the April tax and audit deadlines, all employees were invited to the annual Post Busy Season Happy Hour event hosted by the social committee. Food was catered via the Central BBQ food truck, and drinks were brewed in-house at Wiseacre,

May 13, 2015

More than 80 CFOs and Controllers are gearing up for the CBIZ MHM CFO Conference to be held next week at the FedEx Institute of Technology on the University of Memphis campus.  Three CFOs – Todd Smith of MicroPort Orthopedics, Inc., Ann Langston of Church Health Center, and Mike Wood of EnSafe – are slated to close the full-day conference with a Q&A session, giving insight into the top concerns of CFOs.

This conference will be the fifth of its kind hosted by the Memphis office.  The May 19th event will focus specifically on the current top concerns of CFOs including economic development, succession planning, big data, cyber security, the affordable care act, and the latest tax and accounting standards. 

Todd Smith
Todd has served as VP of Finance of MicroPort Orthopedics, Inc. since its establishment in January 2014 following MicroPort Scientific’s acquisition of Wright Medical Technology, Inc.’s global OrthoRecon business. MicroPort Orthopedics currently represents MicroPort’s largest business segment specializing in the design, manufacture and marketing of reconstructive joint devices and related services. Prior to the MicroPort acquisition, Todd served in various leadership roles in Wright’s finance division and also served as VP and Controller for VisionAmerica, Inc.

Ann Langston
Ann is the Chief Strategic Officer at Church Health Center and has been with the Center since 1999. Prior to her time on staff, she served as a volunteer legal counsel and was Chair of the Board of Directors. Ann has over 20 years in the private practice of law, first in Atlanta, Georgia and last with Gerrish & McCreary, P.C. in Memphis.

Mike Wood
Mike is the VP of Finance and Administration of EnSafe, an environmental consulting firm. He has nearly 30 years of experience in financial management and has served in senior management at EnSafe for the past 18 years.  Prior to working at EnSafe, he supervised financial services provided to various municipalities, including the cities of Bartlett, Millington, and Germantown, TN.

If you would like to attend, please click here to be directed to our registration page.

May 6, 2015

The Memphis office is proud to announce the selection of five of our employees, Brooke Balducci, Cherry Blanton, Rhett Butler, Josh Finfrock, and Karen Gondan (pictured below L-R), to the Emerging Managing Director Academy (EMDA), Class of 2017. Each brings a unique perspective regarding their journey to this point in their career.

  Brooke Balducci   Cherry Blanton  Rhett Butler       

  • Brooke Balducci is a Senior Manager in our tax services practice. Her prior Big 4 experience coupled with insight gained during her six years with us have greatly contributed to her expertise with large complex clients that are publicly traded or owned by large private equity groups.
  • Cherry Blanton, an audit Senior Manager, currently serves attest clients in a wide variety of industries with diverse types of owners ranging from private equity firms to family groups. Prior to public accounting, Cherry held corporate accounting positions with privately held companies in the airline and marine industries.
  • Rhett Butler joined our firm eight years ago after earning his Masters and currently serves as a Senior Manager in the attest practice. Rhett focuses primarily on mergers and acquisitions, fraud, and employee benefit plans in the areas of manufacturing, retail, and distribution.
  • Josh Finfrock is the Director of our Transfer Pricing practice in Memphis. He joined our firm in 2008 and also has prior experience with a Big 4 firm. Through Josh's leadership, we have been able to capitalize on the expanding market demand for this unique service line.
  • Karen Gondan, a Managing Director in our attest practice, joined our firm about a year ago. Karen's participation in the EMDA program will not only be a way to further her understanding of MHM and CBIZ, but also will provide an opportunity for her to share her prior partner level experiences with those beginning that career path.
The Emerging Managing Director Academy's goal is to make sure that newly promoted Managing Directors make the best possible start in their new role.  This program helps them achieve a higher level of self-awareness and self-development, combined with relevant business, people development, and leadership skills. 

Congratulations to Brooke, Cherry, Rhett, Josh, and Karen! We look forward to seeing them build upon the existing qualities and capabilities that got them to this point in their respective careers.

April 21, 2015

Eustis Corrigan, Senior Managing Director of the Memphis officeparticipated in a Thomson Reuter's tax chat on Twitter. Using the hashtag (#ReutersTax), Eustis and several other "taxperts" across the U.S. answered questions in 140 characters or less.

The following questions were asked by various followers and answered by Eustis (EC):

  1. What are some common tax mistakes?
    • EC: Common mistakes include bad math and misspelled names; misclassification of dividend income as well
  2. Can you explain the tax impact on pre-tax contribution to 401(k) vs after-tax contribution?
    • EC: A pre-tax contribution is not subject to federal income tax and reduces AGI for c/y; tax is deferred until withdrawal is made
  3. What’s your advice to folks who don’t have the cash to pay their taxes?
  4. Is there any way for a grandparent to get a Federal tax break while contributing to their grandchildren's education? [Follow-up: What about 529s from grandparents? Tax impact vs. savings mechanism]
    • EC: A direct payment of tuition is not subject to gift tax; no other tax break
    • EC: The earnings of a 529 plan are tax free IF used for qual education expenses
  5. What will happen if I don’t file my taxes?
    • EC: If you don't file your taxes you will likely receive notices or a visit from your friendly IRS agent!
  6. How do I file for an extension? (And what are the penalties?)
    • EC: File form 4868; if you owe with your extension avoid penalties by paying all taxes owed by the original due date
  7. Should I pay for my taxes with a credit card?
    • EC: Pay taxes with a CC only as a last resort; it is always an economic analysis that should include interest/fees
    • EC: If you have a good relationship with a banker try that route first; interest rate and terms might be better
  8. What’s the craziest tax deduction you've ever heard of?
    • EC: Great question! Deducting the cost of a Mardi Gras ball costume and dues
    • EC: Also cost of cat food at a salvage yard; cats kept snakes and rats off property!
  9. How can we report dividend income from schedule K if the schedule is not available at the time?
    • EC: You may need to file an extension until you get the Schedule K-1
    • EC: The IRS matches K-1s so in order to avoid notices be safe and extend
  10. Should a loan modification be treated as a cancellation of debt?
    • EC: It depend if the modified terms result in a significant modification under IRC sec. 1001; consult tax advisor
  11. What’s the best way to avoid an audit?
    • EC: Sometimes an audit is unavoidable due to random selection; stay honest/keep good records/use a specialist
  12. I got a refund! Should I use it to pay down debt or invest it? Any other tips?
    • EC: Pay your CPA if you used one! Fund an emergency account first then pay down debt.

To view the full conversation click here or search for #ReutersTax on Twitter. If you have further questions regarding any of the above, please contact Eustis Corrigan at ecorrigan@cbiz.com or 901.685.5575. You can also follow Eustis on Twitter @eustiscorrigan for more tax insights.


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