Need a new business vehicle? Consider a heavy SUV
Are you considering buying or replacing a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit from […]
Category: Tax
New Ohio Tax Conformity Bill Passes
Big tax news out of Columbus on March 24th. Ohio Legislature approved a tax conformity bill and voted to move the tax deadline to May 17th. Both items await Governor […]
Is an S corporation the best choice of entity for your business?
Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for […]
Business highlights in the new American Rescue Plan Act
President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are […]
Launching a small business? Here are some tax considerations
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. […]
Work Opportunity Tax Credit extended through 2025
Are you a business owner thinking about hiring? Be aware that a recent law extended a tax credit for hiring individuals from one or more targeted groups. Employers can qualify […]
Running a Business From Home? Get Home Office Tax Deductions
During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to […]
Ohio Urging Victims of Unemployment Fraud to Act Now
The Ohio Department of Taxation (ODT) released a statement warning Ohio residents, who may have been the victims of unemployment fraud because of identity theft, to report it or they […]
What Are the Tax Implications of Buying or Selling a Business?
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If […]
Many Tax Amounts Affecting Businesses Have Increased for 2021
A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction […]
IRS Still Experiencing Delays
The IRS has millions of individual 2019 tax returns in the processing pipeline. They recently made some changes on their website, regarding the processing of these IRS delays. For refunds […]
The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a […]
