The passing of the Tax Cuts and Jobs Act led to many questions about your bottom line last tax season. With one year behind us, we look forward to moving into this tax season with more clarity and confidence to manage the effects of the reform for both individuals and businesses.
Have you ever found yourself scrambling during the last week of January to track down a Federal Identification Number or addresses of 1099 recipients?
The IRS recently issued new increases to tax deduction and contribution limits for tax year 2020. These increases are from the annual inflation adjustment that the IRS makes towards multiple tax schedules.
Victims of the severe storms, straight-line winds, tornadoes, flooding, and landslides that took place on May 27, 2019 in Ohio may qualify for tax relief from the Internal Revenue Service.
School starts soon for many students at universities and colleges around the region. Many of those students receive scholarships to help pay for school. While most scholarships are excluded from gross income, students need to be aware of situations where scholarships need to be reported as income and that income could be subject to federal income tax with a maximum tax rate of 37%.
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:
As a tax manager, "busy season" is both demanding and time consuming. So, what do I do to burn off stress after busy season?
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.