The latest legislative changes in federal tax law have introduced new opportunities for individuals and families seeking to manage their wealth and plan for the future. The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, codifying provisions that alter inheritance and gifting thresholds in
In the complex world of taxes, change is the only constant. As such, it’s critical to keep a close eye on alterations and modifications, particularly when they affect your tax planning and obligations. Most recently, Ohio’s Commercial Activity Tax (CAT) has come under the spotlight with the signing of HB
The Cares Act (signed by President Trump on March 27, 2020) provided for a refundable Employee Retention Credit (ERC); however, PPP loan recipients were precluded from qualifying for the ERC. At that time, many businesses chose to apply for PPP loans in 2020 as opposed to ERCs. The President signed
If you anticipate that your Ohio Gross receipts will be less than $3 million in 2024, you should cancel your Commercial Activity Tax (CAT) account, effective December 31, 2023. If your gross receipts are more than $3 million but less then, $6 million, you should file the 2024 tax returns
There are a couple tax bills that have been in the works in 2021 that may have a large effect on taxpayers in upcoming years. The two bills that will enact changes are: The Bipartisan Infrastructure Bill (Infrastructure Investment and Jobs Act), signed into law by President Biden
A big change is happening in the Commonwealth of Kentucky for businesses looking to file their taxes in 2025. Starting March 14, 2025, businesses will no longer be able to file their taxes through OneStop. Instead, they will file their taxes with MyTaxes. The MyTaxes portal will offer: A more
What you don’t know can hurt you. And that’s particularly true when it comes to sales tax nexus. Since the 2018 South Dakota v. Wayfair decision and the pandemic-fueled explosion of online sales, physical presence isn’t the de facto nexus standard any longer. In this post, we’re digging into the
What you don’t know can hurt you. And that’s particularly true when it comes to sales tax nexus. Since the 2018 South Dakota v. Wayfair decision and the pandemic-fueled explosion of online sales, physical presence isn’t the de facto nexus standard any longer. In this post, we’re digging into the
We all know charitable donations and gifts present unique opportunities for tax savings while assisting others. But did you know there’s a way to help your children and grandchildren achieve a quality education that also enables you to receive tax benefits? It’s true — contributions to 529 education savings plan
President Biden signed the Infrastructure Innovation and Jobs Act back in November 2021, sunsetting the Employee Retention Tax Credit (ERTC) program one quarter early (with some exceptions for recovery startups). This early “cut-off” eliminated the 4th quarter of 2021 as a qualifying quarter for the credit – but it
The Ohio Supreme Court has upheld the State Department of Taxation’s (DOT) ability to create a centralized filing and collection system for Ohio municipal business income taxes. This decision upholds 2014’s House Bill 5 and 2017’s House Bill 49. Municipalities challenged the Ohio General Assembly’s ability to authorize a centralized
The intersection of the landmark 2018 Supreme Court ruling in South Dakota v. Wayfair with the rapid expansion of doing business in multiple states using various selling platforms has quickly complicated sales tax compliance. Most states followed suit with the Wayfair ruling mandating businesses without a physical presence in a