Tag: Business Taxes

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

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

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

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

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

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

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