On Wednesday, the class-action lawsuit that was brought by several Ohio municipalities challenging the state’s ability to collect local taxes has been struck down by a Franklin County judge. The lawsuit, filed by over 100 municipalities, challenged a recent law passed by Gov. John Kashich that grants the State of Ohio the power to collect local business tax. The judge’s ruling is a victory for businesses and the conservative state Congress. For Ohio municipalities, it is a significant blow.
Planning your estate? Use these tips to avoid the probate process
Probate is the process in which a court oversees the distribution of your property after you are deceased. During probate, any of your outstanding debts will be addressed and your assets will be distributed according to your will.
Tips for a peaceful tax season
For the next couple months, you will likely be seeing people standing on street corners with signs advertising tax services and countless TV ads for tax preparers promising fast refunds. There will be kiosks set up in malls and departments stores with tax preparers on the spot. Maybe you are like one-third of all Americans who take the task upon themselves and prepare their own taxes.
Which business expenses are tax deductible?
The costs of running a small business can add up quickly. One of the upsides of being a small business owner is the ability to deduct several business expenses from your federal taxes. This can relieve part of the financial burden of owning a small business.
10 important things to know about the new tax law, part 2
Now that tax season has begun, it is more important than ever to understand the relevant points of the recently-passed tax overhaul. Last week, our blog examined five significant piece of information from the new tax reform. This week, we will conclude our examination by discussing five more changes to the tax code that you should know about.
