Local Office Blogs

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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 30, 2015

Faced with a $400 million budget shortfall, Kansas Legislators recently passed significant tax law changes which may impact you and / or your organization. The two different bills, H.B. 2109 and S.B. 270, are generally effective July 1, 2015 (other effective dates are noted if different). A major change will make guaranteed payments retroactively taxed in Kansas from January 1, 2015. This will put partnerships on par with S-Corporations whose wages remained taxable under previous rules. Additionally, an amnesty program for state taxes is authorized from September 1, 2015 to October 15, 2015. More details are provided below.

Kansas Tax Law Changes

  • Kansas sales tax will increase from 6.1% to 6.5% effective July 1, 2015. Certain transition rules apply to contractors who have entered into a written, binding contract before May 1, 2015 for construction projects. Certification must be made to the state by July 10, 2015.
  • Taxing guaranteed payments for pass through entities retroactive to January 1, 2015;
  • Income tax rates freeze at 2.7% for the bottom rate and 4.6% for the top rate until tax year 2018. In 2018, the bottom rate drops to 2.6% and the top rate remains at 4.6%. The rates will remain in effect in the future unless changed by a formula that begins in 2019 (if certain general fund revenues increase more than 2.5% over the previous year, the formula lowers the income tax rate. KPERS spending is not subject to the formula);
  • Acceleration of deduction phase down and repeal of income tax deductions, repealing all deductions except for the mortgage interest deduction which can be claimed at 50% and the charitable deduction which could be claimed at 100% and a property tax deduction equal to 50% of the federal deduction, retroactive to January 1, 2015;
  • The cigarette tax increases by 50 cents a pack;
  • Exemption of certain low income Kansans from income tax is included (joint filers with taxable income of $12,500 or less and single filers with taxable income of $5,000 or less would pay nothing);
  • The food sales tax rebate program eliminated in 2012 is restored;
  • Individual development account tax credits eliminated in 2012 are resumed;
  • Tax amnesty for state taxes authorized from September 1, 2015 to October 15, 2015. The amnesty is limited to penalties and interest for tax periods ending prior to January 1, 2014 and does not apply to taxpayers who have received an assessment or for which an audit has been initiated prior to September 1, 2015.
  • Requiring SSN for claiming tax credits; and
  • Rural Opportunity Zone sunset extension for 5 years through taxable years beginning before January 1, 2022.

If you have questions regarding the Kansas Tax Law changes or would like more information, please reach out to your local CBIZ MHM contact.

June 29, 2015

Congrats to the Phoenix and Tucson offices of CBIZ MHM, LLC for being named to CareerBuilder’s Top Companies to Work for in Arizona 2015! This list includes the 75 best Arizona companies across the state as voted by their employees.

All participating companies completed a two-part assessment process conducted by the independent workplace research firm, Best Companies Group (BCG). Part one of process was the Employer Questionnaire, where BCG asked about benefits, HR policies and the fun things the employers do for their employees. Part two was the Employee Engagement and Satisfaction Survey which measured the employee experience in 8 core focus areas: “Leadership and Planning”, “Corporate Culture and Communications”, “Role Satisfaction”, “Work Environment”, “Relationship with Supervisor”, “Training, Development and Resources”, “Pay and Benefits”, and “Overall Engagement”. Using the combined data from both parts of the survey process, BCG was able to determine who was good enough to make the list. .


“This Top Company list gets more competitive each year”, says Denise Gredler, CEO of BestCompaniesAZ and consulting partner for the program. “The list winners had very impressive employee survey results averaging an overall favorable rate of 88 percent and an overall employee engagement score of 91 percent.”


“We are proud to be recognized as one of Arizona’s “Top Companies to Work for” says Carlos Wagner, Executive Managing Director." Our ability to attract and retain top talent directly contributes to CBIZ MHM’s consistent growth, profitability and industry leadership. The results of this survey demonstrate our commitment to our employees in providing a superior work environment that places high value on benefits, company culture, community service and overall employee satisfaction.”


For complete details visit topcompanies.azcentral.com.

June 25, 2015

Dave Enick, Managing Director of CBIZ MHM Tampa Bay is featured in a CBIZ Biz Tips video, “Ensuring a Strategic Fit in Today’s M&A Market.” The video provides insights into what you need to look for, both internally and externally, with your business to ensure success in the M&A market.

Do you have a plan in place for selecting a strategic advisor for your M&A transaction? Learn more about best practices by watching this video:

If you have further questions about transactions or deal flow, feel free to contact
Dave Enick, CBIZ MHM Managing Director, at 727.572.1400 or denick@cbiz.com.

June 25, 2015

Today CBIZ MHM, LLC and the Kansas City CFO Group hosted their second quarter breakfast event featuring Karen R. Glickstein. Glickstein is a Shareholder at Polsinelli and focuses her practice on assisting employers with all types of human resources and employment law issues.

Today, Glickstein focused on the top employment law issues that may affect the bottom line, including social media, whistleblowing and more! To view the presentation from today’s event, click here.

To learn more about Karen R. Glickstein or to contact her directly, visit her web bio.

If you are a CFO or owner and would like to receive more information on future Kansas City CFO Breakfast Series events, join our group on LinkedIn.

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 24, 2015

The role of the CFO is continuously changing. Their focus is no longer on just the numbers, but also on the strategic operations within a company. As discussed at the June 17 Twin Cities Business Magazine CFO Forum, the CFO needs to build a strategic partnership with the CEO and its leadership. 

CFO Forum panelists: Jim Macaulay, CFO of The Marvin Companies, John Way, CFO of Proto Labs, Inc. and Kelly Larson, CFO of Summit Brewing discussed the various challenges that they face at their companies. Some of the challenges discussed were: managing strong revenue growth, answering to shareholders and attracting and retaining talent while building an engaged workforce. 

Because of these challenges, CFOs of today need to keep abreast of the ever changing environment, and although difficult, having business partners like CBIZ can ease the burden. 

CBIZ can provide you insights and resources on many areas that can affect the growth and stability of your company. For a collection of thought leadership insights and resources, click here.

If you would like a visual recap of the event, you can click here for images of the night. 


June 22, 2015

CBIZ Philadelphia has partnered up with the Delaware Valley Farm Share program, an extension of Common Market.  Every 2 weeks employees have fresh produce, breads and dairy delivered to the office from farms across the Delaware Valley region.  Below are pictures of some of our employees collecting their share!






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 17, 2015

Your closely held business is likely your largest asset. In most cases, there are many stakeholders relying on the business and what it produces. With succession planning, the wrong decision, or even the right decision implemented the wrong way could be catastrophic. 

Long before you think about transition, you should be thinking about what the effects of the transition would be on the business. Some questions to ask are: 

  • How does the sale of the business coincide with your continued involvement with it?
  • What is the appropriate time frame?
  • Is the talent in the business today?
  • What is the business worth now or what can it be worth later?
  • What benefits could transition bring to the business?
  • How reliant is the business on you today?
  • Do you want the business to stay in the family?
  • How would continued family ownership affect other management and stakeholders? 

There are also many questions that you need to think about personally before a transaction: 

  • What am I considering this?
  • Gather Transaction Team - CPA, attorney, banker, other financial and insurance advisers.
  • What is my financial need?
  • Does transition solve problems or create them?
  • What will I do once the business is transferred?
  • What are some of my other personal and financial goals?

The answers to each of the questions above will greatly affect the process and steps that you will take in your succession planning. Make sure to consult with all of your advisers before you start making decisions that could impact your future and the future of your business. 

If you have questions and would like to connect with someone on this topic, please reach out to David Levi, Senior Managing Director, at 612.376.1208 or dlevi@cbiz.com


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