It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few…
PREPARE YOUR BUSINESS WITH THESE TAX DEADLINES Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may…
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be…
Year-end tax planning strategies to implement now Now that Labor Day has passed, it’s a good time to think about making year-end tax planning moves that may help lower your small business taxes. The standard year-end approach…
Election at entity level allows for unrestricted federal deduction on Ohio taxes Matthew D. Maker, CPA, MT, Director, Barnes Wendling CPAs A.J. Volpe, Tax Specialist, Barnes Wendling CPAs With the passage in June of Ohio Senate Bill…
While the recently announced student loan debt relief has captured numerous headlines, it’s estimated that another federal relief program announced on the same day will provide more than $1.2 billion in tax refunds or credits. Specifically, IRS…
If you’re contemplating selling your manufacturing business, be sure you understand the tax implications. Business structure (as well as the transaction) can impact your tax bill and, therefore, your net proceeds from the sale. Here are some issues to consider.…
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching…
Key Tax Breaks for Small and Mid-Size Businesses Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025,…
The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. Business owners should plan accordingly as first-year depreciation will begin to decline from…
Manufacturers operating in more than one state may be subject to taxation in multiple states. But with proper planning, you can potentially lower your company’s tax liability. What Is Nexus? The first question manufacturers should ask when…
Unfortunately, many businesses have had to close because of the pandemic and the economic downturn. Therefore, we can help you if this is your situation, including taking care of the various tax responsibilities that must be met.…
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