When many people imagine a tax audit, they picture shadowy IRS agents combing through tax returns to seize upon every tiny flaw. This misconception couldn’t be further from the truth. No one looks forward to a tax audit, but the process is not necessarily as painful...
Death and taxes are two things that no one likes to think about. According to the old saying, however, they are the only two things that are certain in life. Taxes have been on many people’s minds recently due to the massive tax overhaul passed by the Trump...
Last week, the Trump administration passed the first major tax overhaul since the 1980s. No doubt, the tax reform law will have major implications for millions of Americans. One of the most significant aspects of the new law is how it will affect property tax...
Let’s say that you are a business owner and you are ready to expand into a brick-and-mortar location. There are several questions that you will have to consider. One of the most important is whether you would prefer to rent your commercial space or buy it. Renting...
Do you have a family-owned business? Have you given some thought to what will happen to your business once you retire? Do you have a succession plan in place should you no longer be able to handle the day-to-day affairs of your company due to incapacity or premature...
A revocable living trust can be a useful tool in estate planning. Many people make the mistake of assuming that these trusts are only for the very wealthy, but that couldn’t be more false. People who choose to make revocable living trusts usually do so in order to...
With the cold Ohio winter upon us, spring may be the last thing on your mind. Before you know it, though, spring—and tax season—will be here. That’s why it’s best to start thinking now about how you can minimize your tax payments. With the end of the year approaching,...
Governor John Kashich’s two-year budget plan, which allows business owners to file taxes with the state of Ohio rather than their city of residence, is being challenged by a group of Ohio municipalities. Over 100 towns and cities are filing suit in an attempt to block...
Let’s say that you have set up a will in order to distribute your assets after you pass away. You decide that part of your estate will go to your spouse. After all, bequeathing assets and property to a spouse is an excellent way to care for them. Still, if your estate...
Owning a business demands a lot of your time. You more than likely put a great deal of your time and effort into making it a success. Part of the time and effort you put into your business involves a plethora of paperwork. Depending on the nature of your business,...