The Biden Administration’s American Families Plan and other tax proposals may complicate the tax landscape for high-income earners. Many of the proposals target taxpayers earning more than $400,000 per year.
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Topics: Tax Planning, ohio, Tax, Tax Team, Tax updates, workplace productivity, meal deduction, Management, Deductions, Workplace Culture, Tax Increases, Biden Administration
The IRSand the Treasury released guidance Thursday April 8, 2021 on a temporary exception to the 50% limit that businesses can deduct for food or beverages from restaurants during the pandemic.
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Topics: ohio, workplace productivity, meal deduction, Management, Deductions, Workplace Culture, Coronavirus, COVID-19, Business Meal Expense
After months of negotiations, Governor Mike DeWine signed Ohio's FY 2020-2021 general operating budget, and the following are a few key points that may impact you or your business:
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Topics: brixey and meyer, ohio, Tax, Tax Team, Business Owners, Deductions
The Ohio House is pursuing a significant change to Ohio’s Business Income Deduction currently benefiting owners of Ohio pass-through entities. The current Business Income Deduction provides great tax benefits for business owners; however, it is costing the state approximately $1 Billion in revenue.
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Topics: brixey and meyer, ohio, Tax, Tax Team, Business Owners, Deductions
Businesses that use a car or other vehicle may be able to deduct the expenses of operating that vehicle on their taxes. Generally, a business can use one or two methods to figure their deductible vehicle expenses:
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Topics: brixey and meyer, ohio, Tax, Tax Team, Steve Hood, Vehicle, Deductions