Ohio Sales Tax Holiday: What Small Business Owners Need to Know
Ohio's 2024 sales tax holiday is an opportunity for small business owners to attract more customers and boost sales. This year, the annual sales tax holiday has been extended from July 30 to August 8 Read More
Jul 25, 2024
ERC Enforcement Could Leave Businesses at Risk for Audit and Penalties
As the IRS ramps up efforts to address ineligible claims for COVID-related payroll relief, many small and midsize businesses who applied for funds under erroneous or narrow criteria could face an increased risk of audits Read More
Feb 05, 2024
Should Your Business Elect to Pay Pass-Through Entity Taxes?
With most states now offering entity level PTE taxes as a workaround for federal limits on deductions for state and local tax (SALT) payments for individuals, it’s a good time to review whether you should Read More
Jan 31, 2024
Annual Action Required for Schedules K-2 and K-3
The IRS released two new schedules in recent years, Schedules K-2 and K-3. These new schedules are an expanded reporting requirement intended to provide more clarity and transparency for partners and shareholders of pass-through entities Read More
Jan 17, 2024
Is Your Business Eligible for ERC or Is It a Scam?
“IRS cracks down on aggressive ERC marketing promoters and employers filing dubious claims” On July 26, 2023, the IRS Commissioner, Danny Werfel, announced that the agency has made significant progress in processing Employee Retention Credit Read More
Aug 15, 2023
Ohio Enacts Bill Containing Favorable Tax Changes
On July 3, 2023, Governor Mike DeWine signed into law House Bill 33, Ohio’s 2024-2025 biennial budget legislation. This new law includes changes that will affect the Commercial Activity Tax exemptions, the resident tax credit, Read More
Jul 06, 2023
Ohio Tax Benefit for S-Corp and Partnership Owners
What changed? For the last 5 years, federal tax deductions for state and local taxes were limited to $10,000 for individuals. For owners of Ohio pass-through entities that limitation ended, on June 14, 2022, when Read More
Dec 02, 2022
8 End-of-Year Tax Planning Strategies for 2022
As the economy marches through the final months of 2022, business owners will face ongoing changes this tax season. Even so, there is still time to take steps to reduce your tax burden. With the Read More
Oct 13, 2022
Does Your Business Qualify for the Employee Retention Credit (ERC)?
The Employee Retention Credit (“ERC”) was originally enacted as part of the first wave of pandemic relief in March of 2020. Since then, it has been modified and expanded to make many small businesses eligible. Read More
Sep 28, 2022
3 Ways Small & Midsized Businesses Can Maximize Tax Benefits
Are you maximizing your tax benefits? From employee retention credits to tax credits for innovation, there are many strategies for small and midsized businesses to capitalize on deductions and benefits for the 2021 tax year Read More
Feb 15, 2022