Opportunity Zones: Overview and Update on Recent Developments – East Lansing, MI

The 2017 Tax Cuts & Jobs Act created a new incentive for investment in low-income communities known as “qualified opportunity zones” that has the potential to be a win-win for investors and low-income communities. This seminar will provide an explanation of the opportunity zone program and recent developments that can provide significant tax benefits. The […]

Ohio Launches “TechCred” – for a limited time

Ohio has formally announced a new simplified training program seeking to enhance the technology skillsets of Ohio’s workers. The program, TechCred Training Reimbursement Program (“TechCred”), is offering a cash reimbursement to employers for the cost of employee training related to technology up to $2,000 per employee and $30,000 per employer. Eligible training can include existing […]

Uncle Sam may provide relief from college costs on your tax return

We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities — and $35,830 for students at private not-for-profit four-year institutions. These amounts don’t include room and board, books, supplies, transportation […]

Ohio Tax Update: Ohio 2020-2021 Biennial Budget Tax Reform

Overview The Ohio legislature passed HB 166, the FY 2020-2021 Biennial Budget and with it significant tax reform affecting both businesses and individuals. The reform is highlighted by an opportunity zone credit and a 4% individual income tax rate reduction. The bill also imposes sales tax for out-of-state sellers and marketplace facilitators. Ohio’s Biennial Budget […]

Ohio House Proposes Major Income Tax Changes

Last week the Ohio House of Representatives passed its version of the Biennial Budget (HB 166) proposing several changes to the Ohio personal income tax.  The two most notable changes were: Reduction of the business income deduction from $250,000 to $100,000 Elimination of the 3% tax rate applicable to business income, subjecting the income to […]

Ohio Taxpayers May Be Missing A Big Deduction Opportunity

A surprising number of Ohio taxpayers are missing a golden opportunity to reduce their tax liability using a relatively straightforward deduction. The Ohio Business Income Deduction allows taxpayers to deduct from their federal adjusted gross income the first $250,000 of business income earned by single taxpayers or married taxpayers who file jointly. For married taxpayers […]

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