Ohio Homebuyers Plus: Gain New Customers & Grow Deposits
There’s been plenty of buzz around the new Ohio Homebuyers Plus program, which Governor Mike DeWine, Lt. Governor Jon Husted, and Treasurer Robert Sprague rolled out in late 2023. This state sponsored banking product has some serious potential to get residents in a homebuying mindset-which in turn will drive business to participating banks and credit unions. […]
IRS Rolls Out ERTC Voluntary Disclosure Program for Employers
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most recently, it launched a Voluntary Disclosure Program (VDP). The program presents a valuable, but temporary, opportunity for eligible employers. ERTC History Recap The ERTC is […]
2024 Tax Calendar
To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for January 31 […]
QuickBooks® Online: Four Tips to Make 1099 Time a Breeze
January can be a hectic time for many business owners, bookkeepers, or accountants due to closing books for year end and preparation of 1099 information returns. Karen Johnson, CPA and QuickBooks® ProAdvisor, outlines steps you can take to ensure you can print an accurate and complete 1099 Transaction Detail Report to support 1099 preparation or […]
Ohio Opportunity Zone Tax Credit Program Adds Second Application Round
As part of the Federal Tax Cut and Jobs Act of 2017, the State of Ohio worked with the U.S. Treasury Department to establish Ohio Opportunity Zones (OZs) in over 300 economically distressed census tracts in 73 of its counties. These Ohio OZs were selected based on submissions by local government officials and nonprofit economic […]
Should your business be outsourcing sales tax compliance?
Without the ongoing burden and uncertainty related to sales tax compliance, your financial management resources can work on more complex issues and proactive tax planning. Understand the cost of sales tax compliance: In-house vs. Outsourcing, in this side-by-side comparison. Download Infographic Download Infographic
Ohio Tax Update: HB 515 Sale of a business may qualify for Ohio Business Income Deduction treatment
Overview Ohio Governor Mike DeWine signed 2022 House Bill 515 (“law” or “law change”) on June 24, 2022, clarifying the sale of an equity or ownership interest in a business qualifies for the Ohio Business Income Deduction (BID). The bill’s changes apply to any transactions, refund applications, audits, petitions for reassessments and appeals pending on […]
KY House Bill 8 to Lower Income Tax, Add Sales Tax to High-Growth, High Consumption Services and Create New Tax Amnesty
After being approved in Kentucky’s House and Senate, then being vetoed by Kentucky Governor Andy Beshear, H.B. 8 was officially ratified on April 13, 2022. The ratification required the Republican Supermajority to impose an override of the Governor’s veto in the last two days of the Kentucky General Assembly’s recent session. House Bill 8 will […]
Comparing the Cost of Sales Tax Compliance: In House vs. Outsourcing Infographic
Sales tax compliance can get incredibly complex. If your company only has sales tax nexus in one or two states, then the process could be relatively manageable. The complexity (and risk) grows drastically, however, as your sales tax obligation and the number of states in which you have nexus grows. At some point, most companies […]
Ohio Tax Update: Ohio 2022-2023 Biennial Budget Tax Reform
Overview Ohio Governor Mike DeWine signed 2021 HB 110 (“law” or “law change”), Ohio’s 2022-2023 biennial budget with significant tax law changes, rate reductions, and municipal income tax reforms. Many of the changes are effective retroactive to January 1, 2021 and other effective dates as noted below. Individual Income Tax Law Changes HB 110 reduces […]