On behalf of Mockensturm Limited | Dec 1, 2016 | Income Taxes
There’s now little doubt that federal income taxes will change in one way or another under the new administration. But what about state taxes? One possible proposal to watch out for in Ohio is a move to a flat income tax. Ohio State Senator Bill Coley says he...
On behalf of Mockensturm Limited | Oct 4, 2016 | Income Taxes, IRS
As we move into fall, many individuals who sought an extension are continuing to work on tax issues. Similarly, business owners often look to begin to reconcile the books at this time of year and adjust strategies to push to make year-end goals. Many decisions made...
On behalf of Mockensturm Limited | Jul 6, 2016 | Income Taxes, Payroll Taxes
Summer jobs are a great way to generate income for college and a substantial learning experience for high school and college students. The Bureau of Labor Statistics says that last July, more than 20 million people between the ages of 16 and 24 were employed. Sole...
On behalf of Mockensturm Limited | Mar 3, 2016 | Income Taxes
Have you avoided filing a tax return for several years? Are you worried that you might be audited by the IRS? Did you buy a home, start a business or get married in the past year? Regardless of the circumstances, as tax season approaches, it’s important to make...
On behalf of Mockensturm Limited | Dec 31, 2015 | Income Taxes
Most taxpayers know that income is taxed at different rates, depending on how much the taxpayer has earned in the year. For instance, in 2013 a single taxpayer paid 25 percent on the income he or she earned above about $36,000, and 28 percent on income above about...
On behalf of Mockensturm Limited | Nov 17, 2015 | Income Taxes
It was way back in January when we first discussed the way the city of Cleveland taxes professional athletes’ income when they come to town to play one of the local sports teams. As we explained then, currently Cleveland calculates the taxes on visiting NFL...
On behalf of Mockensturm Limited | Oct 10, 2015 | Income Taxes
According to the Ohio Department of Taxation, legalization of marijuana could bring in as much as $300 million in new tax revenue to the state. That figure is based on the assumption that there would be little integration of the wholesale and retail marijuana...
On behalf of Mockensturm Limited | Sep 25, 2015 | Income Taxes
When you run your own business or a small business, you know there are many pieces that go into the puzzle that makes up a successful business. You generally need a great concept and provide a great product or service that allows you stand apart from similar...
On behalf of Mockensturm Limited | Sep 11, 2015 | Income Taxes
Many states use tax rates and other tax treatment as a means of luring businesses to the state and retaining those in the state. Ohio is no different, and the discussion out of the legislature every year always includes heated debates regarding how to change...
On behalf of Mockensturm Limited | Aug 14, 2015 | Income Taxes
The Ohio legislature has been considering changing the state’s severance tax recently. In the last session, the legislature created tax policy study commission, whose job is to examine the state’s severance tax and put together proposals to reform the tax...
