Tax

President Trump and the Republican Congress plan to act swiftly to make broad changes to the United States — including its federal tax system. Congress is already working on legislation that would extend and expand provisions of the sweeping Tax […]

When businesses acquire real estate, they often title it under the company name. Although this might seem straightforward and logical, it's not always the best choice — particularly for properties expected to appreciate significantly in value. Keep reading to learn […]

If you're establishing or buying a business with one or more other co-owners, consider implementing a buy-sell agreement to prevent unwanted ownership changes and ensure business continuity if an owner withdraws or dies. A properly drafted agreement can make your […]

Tax-deferred retirement plans, such as traditional 401(k)s and IRAs, were designed to make building up a retirement nest egg easier. So they're structured with both carrots (tax-deferred compounding in the account) and sticks (taxes and sometimes penalties on withdrawals) to […]

The following chart provides some important federal tax information for 2025, as compared with 2024. Social Security/ Medicare20252024 Social Security Tax Wage Base$176,100$168,600 Medicare Tax Wage BaseNo limitNo limit Employee portion of Social Security6.2%6.2% Employee portion of Medicare1.45%1.45% Individual Retirement […]

Effective January 1, 2022, municipal income tax withholding returned to the Pre-COVID-19 emergency declaration "General Rule". Prior to January 1, 2022, employers were to follow the governor's emergency declaration "temporary rule" in which they withheld based on their regular place […]

You can obtain an identity theft pin from the IRS to protect yourself from tax-related identity theft. The identity theft pin is a six digit code that you obtain from the IRS yearly and input into your tax return. This […]

Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. You can also Opt-Out, but hurry the first Unenrollment Deadline is 6/28/21.

The most recent action by the Treasury extending the tax filing deadline from April 15 to July 15 has provided much-needed relief from compliance matters. It has allowed CPA’s to focus on much more and pertinent issues facing small businesses. […]

By Sandra Orcutt, EA, Supervisor Although the so-called “kiddie tax” will be easier to calculate thanks to the Tax Cuts and Jobs Act (TCJA) of 2017, the unearned income of eligible children (or grandchildren) could be taxed at a higher […]

Avoid ALL penalties and HALF of your interest! If you have unpaid taxes, Ohio Tax Amnesty could help you avoid 100% of penalties and 50% of interest due. Ohio Tax Amnesty will help you achieve a fresh start and settle […]

by Karen Brenneman, CPA, MT, Managing Partner  Governor Kasich signed Ohio House Bill 64 into law on July 2 providing new tax rate reductions that will benefit both individuals and small businesses in our fine state. The newly enacted law […]