Face-to-Face Meetings with Noncompliant Taxpayers
Many people receive IRS notices in the mail, which can be frustrating when trying to resolve the issue since “snail mail” takes forever. Also, let’s not mention the hours spent on hold when trying to discuss the matter with an agent over the phone. Trying to resolve the tax issue
Qualified Opportunity Zones: Two New Ways to Benefit
Two Opportunity Zone (OZ) related initiatives were announced last week that benefit small businesses operating in OZs as well as homebuyers that may purchase a house in an OZ. These initiatives open up the OZ playing field in a way that will allow for even more people to benefit. For
Social Security Changes You Need to Know for 2020
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
Ohio Business Income Deduction: Ohio Lawyers and Lobbyists
On November 6, 2019, Ohio Governor Mike DeWine signed a bill into law that strikes the ban barring attorneys and lobbyists from using the Ohio business income tax deduction (BID). Ohio S.B. 26 repeals a provision that excludes income earned from the practice of law or lobbying from being eligible
2019 Year End Tax Planning Opportunities
Now that both the initial and extended 2018 filing seasons have passed, it’s time to focus on 2019’s taxes and steps to take to leverage additional savings in the closing months of the year. There are steps that can be made now to improve a taxpayer’s position and create additional
Oregon’s New Corporate Activity Tax (CAT)
On May 16, 2019, Oregon Governor Brown signed House Bill 3427, which adopts a new Corporate Activity Tax (CAT) imposed on all types of business entities. The CAT will be in addition to Oregon’s current corporate income tax. The US Supreme court ruling in South Dakota v. Wayfair opened the