Comprehensive Tax & Legal Solutions
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...
Simpler is often better, and an organization of Ohio CPAs believes that changes could be made to the Ohio tax structure that would make it simpler and that this would improve Ohio’s business competitiveness. The Ohio Society of CPAs (OSCPA) are likely well-positioned...
In our last post, we were discussing whether a taxpayer’s treatment of income from an ESBT was reasonable and if they were entitled to a refund of a penalty imposed by the Ohio Department of Taxation. The taxpayer had disputed the tax obligation imposed on the almost...
Tax policy is often slow to evolve. A new section of the federal tax code or Ohio tax statutes may be added or an older section amended, but after this change, there may be little in the way of interpretative guidance from the Internal Revenue Service or the Ohio...
Development easements can be a successful way to marry a tax shelter to protecting the environment or historical elements of property you own. With a development easement, you create an easement that prohibits development on the property and in return, receive a tax...
Running a business often involves deciding what bills to pay – and when to pay them. Peaks and valleys in business are common in any industry. For instance, the change in the price of gas can impact a company in many ways — from increased costs in obtaining supplies...
A record number of Americans have given up their citizenship and some claim that it is because of an obscure federal tax law. The law, known as the Foreign Account Tax Compliance Act (FATCA), requires that all Americans who have assets in foreign financial accounts...
No one enjoys paying taxes. On the other hand, you know they have to be paid, and work to make certain your withholding on your paycheck or your estimated taxes will cover the needed amount of your yearly taxes. Least favorite of all are taxes that you may not have...
For a business in Ohio with employees, unemployment insurance tax is one of many taxes that must be paid. In the last decade, during the recession, many businesses closed and many employees were forced into the unemployment roles. This increase quickly exhausted the...
One of the difficulties in dealing with the federal tax code, in addition to its sheer size and complexity, is attempting to understand the ecosystem of administrative law that exists within the Internal Revenue Service (IRS). The Internal Revenue Code (IRC) is...