Do You Need a Buy-Sell Agreement?
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted […]
Category: Private Business Advisory
Business Valuation Effect on Estate Planning
Summer is a great time for business owners to review their estate plans. Maybe your kids are home for summer break, so they’re top of mind. Or perhaps you’re vacationing […]
The Tax Consequences of Selling Business Property
You need to be aware of the tax implications of selling property used in your trade or business. Many complex rules can potentially apply. To simplify this discussion, let’s assume […]
Reminder: Upcoming QuickBooks Desktop Changes
As a reminder, Intuit announced late last year that it is making significant updates aimed at enhancing user experience, streamlining workflows, and integrating cutting-edge technologies. Importantly, as a result of […]
Ohio Expands Sales Tax Holiday
Ohio’s 2024 Sales Tax Holiday will run from midnight Tuesday, July 30, to 11:59 p.m. Thursday, August 8, an expansion from previous years. The Ohio General Assembly and Governor DeWine extended Ohio’s Sales Tax […]
BOI Reporting Update & SCAM Alert!
Most small businesses in the US must now report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCen), or face noncompliance penalties. Those who have an ownership […]
Ohio Homebuyer Plus Program Helps Ohioans Achieve Dream of Home Ownership
On Jan. 9, Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and Treasurer Robert Sprague officially launched the Ohio Homebuyer Plus program, a new savings account plan aimed at promoting […]
New Reporting Requirement for Businesses
Attention business owners! Effective 1/1/2024, many businesses are now subject to a new requirement to file a report of Beneficial Ownership Information (BOI) with the Financial Crimes Enforcement Network (FinCEN). […]
DOL Announces Final Rule on Classifying Independent Contractors
On January 9, 2024, The U.S. Department of Labor (DOL) released its final rule on worker classification under the Fair Labor Standards Act (FLSA). The 2024 rule, which takes effect on March […]
Got Independent Contractors? Get to Know Form W-9
If your company is perpetually shorthanded, you may have decided to engage independent contractors or freelancers to pick up some of the slack. Just make sure you’re collecting the right […]
IRS Permits Car Dealers to Provide EV Tax Rebates at Purchase
Electric vehicle buyers can now transfer their tax credits to automobile dealers and receive upfront payments that effectively cut the cost, according to IRS and Treasury Department’s recently issued guidance. […]
House Bill 33 Amends the Commercial Activity Tax (CAT)
The newly enacted House Bill 33 amends Ohio’s Commercial Activity Tax (CAT) exemption amounts. Though still awaiting official guidance from the Ohio Department of Taxation (ODT), the Ohio Society of […]
