Federal Tax News for Individuals
1. Involved in Crypto? Here Are Some Tax Issues
2. Reporting Income Earned from Gigs
3. Tip Income Responsibilities for Employees and Employers
4. IRS Issues the 2022 Foreign Housing Cost Exclusions
5. Supreme Court Declines to Hear Passport Revocation Case
Read More Tax Angles for Landlords Today
In the current economic environment, many rental property owners are incurring losses. But they may not to be able to currently deduct them. Here's an overview of information that property owners should know about: deductions for operating costs and depreciation, the passive activity loss rules, the excess business loss rule and net operating losses, as well as details about properties generating taxable income.
Read More Take Advantage of Tax Breaks for Small Businesses
If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you file your tax return for 2021 and plan for 2022. […]
Read More Manufacturers need to act soon to take advantage of 100% first-year bonus depreciation
Manufacturers have the option of taking a 100% first-year bonus depreciation deduction on qualified equipment placed into service this year. After 2022, the deduction is scheduled to begin to phase out over the next five years.
Read More Going private
Dell, H.J. Heinz, Dunkin’ and many other companies have delisted from the public markets in recent years. Is it time for your company to say goodbye to Wall Street?
Read More Rx for valuing a distressed business
Owners of struggling businesses may want to assess how much their operations are worth for many reasons, including M&A, estate planning, shareholder buyouts and bankruptcy. Here’s an overview of how valuation professionals treat these special circumstances.
Read More New audit committee survey reveals trends on risks, ESG reporting and more
What are the top concerns your organization is currently facing? This is just one of the questions audit committee members were asked in a recent survey about the audit process in 2021.
Read More Maintaining a healthy cash flow is critical for manufacturers
Cash flow is the lifeblood of any manufacturing business, so it’s critical to develop a strategy for managing and improving it.
Read More INTEL’S BENEFIT TO OHIO (AND OHIO MANUFACTURERS)
Part one in a mini-series examining the importance of Ohio's Intel project.
Read More Are you ready for the new disclosure requirements for government assistance?
Has your organization received any COVID-19 relief funds, tax incentives or other type of government assistance in recent years? If so, you may need to disclose the key details about the transaction in your 2022 financial statements.
Read More Don’t discount the key person discount
Many CEOs joined the “Great Resignation” in 2021. Unfortunately, some businesses will struggle without the continued involvement of a so-called “key person.” This is a major risk that must be factored into the valuation equation.
Read More Audit disclosures: Why the fine print is important
Audited financial statements contain footnotes that disclose a wealth of useful information. Too often, however, no one bothers to read them.
Read More