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It appears that Ohio has seen a fair amount of startup activity so far this year. According to recent data from the state’s Secretary of State’s office, 12,827 new businesses submitted business filings this March here in Ohio. This is the highest new filing total of...
Sometimes an audit happens by chance, but in many other cases, it happens because of some sort of discrepancy that the IRS discovers in your tax filing. It can be extremely stressful to be audited when you have put many hours into sorting all your paperwork and...
Estate planning can be a difficult topic for a lot of people to talk or even think about. After all, making end-of-life plans and deciding what will happen to your assets when you are gone can be uncomfortable. However, creating an estate plan can be crucial for many...
On January 18, the U.S. Treasury Department proposed regulations pertaining to tax audits for large partnerships. These rules also apply to limited liability companies and other business entities treated as partnerships for federal tax purposes. Although the rules...
Given that Tax Day 2017 is still roughly six weeks away, it would not come as anything of a surprise to learn that there are still many people who have yet to complete their federal income tax returns. For some, this delay may have to do with their accountant’s busy...
One of the most important elements of tax planning and preparation is recordkeeping. While this may seem the epitome of the routine and mundane, you must realize that it may be one of the most important parts of asserting any claim or defense, should the Internal...
If you run your own business, you may have goals that extend beyond making money and selling your product or service. Your plans may include creating a legacy, especially if you inherited the business or intend to pass it along to your children. However, building a...
Most businesses do their due diligence in warning employees about sharing confidential information, such as W-2s, with outside sources you don’t recognize. But what if an email appears to have come from inside your organization? Cybercriminals are getting more...
When you are filling out federal and state income tax forms, most likely your primary concern is to avoid an audit. While this is a legitimate concern, as are the myriad complexities of the IRS Tax Code, major errors of that nature are not the most common among...
Wouldn’t it be great if you could keep the Internal Revenue Service (IRS) from gobbling up your parents’ hard-earned money? Some people only think of the “death tax” question when their parents are close to the end of their lives, when it’s too late to do too much. If...