Prior to the beginning of each year, the Internal Revenue Service (IRS) issues the standard mileage rate as the deductible cost of operating an automobile for business purposes. The standard rate is based on the fixed and variable costs of operating an automobile. On December 17th, 2021, the
The economic impact of the coronavirus pandemic has been devastating to businesses across multiple industries. In response to Ohio Governor Mike DeWine’s order that Ohio agencies do everything in their power to mitigate the impact on Ohio residents, the Ohio Bureau of Workers Compensation (BWC) will issue $1.3 billion dollars
In what seems to be an everlasting battle, the effects of the pandemic are still being felt nationwide. It has required businesses to adapt and change what was once the norm. Allowing employees to work from home has been a major change made by many employers. This has raised concerns
The Tax Cut and Jobs Act (TCJA) brought about numerous changes to many IRS forms. To more accurately calculate employee withholding, the W-4 Employee’s Withholding Certificate was altered for 2020. The previous form focused on personal exemptions, while the new form considers all aspects of income. The new W-4 has
The end of the year represents the perfect opportunity to reflect on the last 12 months and to review your overall personal financial situation. We’ve had a year to assess the impact of 2018’s tax reform bill and to understand how your own tax situation was affected. Reviewing your tax
Every year, the Social Security Administration adjusts the regulations for the Social Security program. These adjustments include various items such as the retirement age, earnings cap and benefit payout. The changes for this upcoming year are summarized below: Full Retirement Age Full retirement is the age at which the Social