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:
Topics: brixey and meyer, ohio, Tax, Tax Team, Business Owners, Deductions
Proposed Ohio Business Income Deduction Changes Will Increase Taxes For Business Owners
Posted by Angela Wurtenberger on May 23, 2019 12:04:31 PM
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.
Topics: brixey and meyer, ohio, Tax, Tax Team, Business Owners, Deductions
Small Businesses Can Benefit From Deducting Vehicle Costs on Their Taxes
Posted by Steve Hood on May 16, 2019 10:10:33 AM
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:
Topics: brixey and meyer, ohio, Tax, Tax Team, Steve Hood, Vehicle, Deductions