Tag: Business Taxes

On July 5, President Trump signed the One Big Beautiful Bill Act (OBBB) into law—a sweeping tax reform package that makes several key provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent, introduces Read More

As Congress works toward finalizing tax legislation, both the House of Representatives and The Senate Finance Committee have released competing versions of what is being called “One Big Beautiful Bill.” While the two proposals aim Read More

Earlier this year, President Trump signed an Executive Order directing federal agencies to adopt electronic payment methods for all transactions with the Department of the Treasury. As a result, the IRS will stop issuing paper Read More

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

Starting January 1, 2024, an anticipated 32.6 million businesses will be required to comply with new beneficial ownership information (BOI) reporting rules under the Corporate Transparency Act (“CTA”). BOI reporting involves the disclosure of information Read More

Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and receiving a Form 1099 for 2023. If you buy something with cryptocurrency, Read More

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

Manufacturers must comply with all relevant tax laws to avoid dire consequences. While the most attention is generally directed toward federal income and payroll taxes, there's another potential aspect to consider: state sales tax. The Read More

The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Project Tax Credit (45X MPTC), which is an incentive for Read More

The 2022 tax-filing deadline is fast approaching for many not-for-profit organizations. If you operate on a calendar-year basis, your filing deadline is May 15, 2023. Otherwise, you must file by the 15th day of the Read More