New Upcoming Requirement for Businesses that Receive Large Amounts of Cash
Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. Beginning January 1, 2024, Read More
Sep 07, 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
Manufacturers: If Available, Take Advantage of Sales Tax Exemptions
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
Jun 14, 2023
Is Your Manufacturing Company Eligible for Clean Energy Tax Credits?
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
May 09, 2023
Meeting Your Organization’s Tax-Filing Obligations
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
Mar 02, 2023
7 Tax-Saving Opportunities for Manufacturers in 2023
After your manufacturing company's 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability. What are the top tax-saving opportunities available to manufacturers this year? Here are seven Read More
Mar 02, 2023
Manufacturers: Be Aware of These 3 Business Tax Provisions Currently in Limbo
Are you up to date on the latest tax law changes that could affect your manufacturing business? Barring further legislation, certain key provisions have expired or have begun to phase out. Here are three that Read More
Jan 18, 2023
How Will Inflation Affect Your 2023 Tax Bill?
Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor Statistics. The rate of inflation Read More
Aug 18, 2022
Avoiding Nonprofit Tax Traps
If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it's still possible for not-for-profits to Read More
Aug 04, 2022
House Democrats Release Tax Proposal
Recently House Democrats released a draft proposal of federal tax changes. Included in the proposal are numerous tax increases. These are proposals only at this point but provide some insight into changes that may eventually Read More
Sep 17, 2021