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
President-Elect Joe Biden has spoken about implementing a lot of potential tax changes while on his campaign trail for president in 2020. While most of the changes he has discussed are in the individual tax realm, but he has a few international corporate tax changes that could affect U.S. corporations
The Consolidated Appropriations Act (CAA), which passed in late December 2020, removed the CARES Act clause that disallowed PPP borrowers from claiming the Employee Retention Credit (ERC). This change has opened the floodgates and allowed struggling businesses to retroactively claim the ERC, which they had not previously been eligible for.
Doing Good Makes Good Business Sense They say that virtue is its own reward. But sometimes it’s not the only one. Has your company recently hired a veteran? Created new jobs? Converted to LED lighting? The tax code rewards economic actions that benefit society as well as business. These tax
Trusts are foundational tools in estate planning, enabling you to manage and distribute assets according to your preferences. But is a simple or a complex trust the right tool for your situation? The choice profoundly influences tax outcomes and overall financial strategies, so to help you identify which is a
Ohio House Bill 33 changed the sales tax holiday to allow tax-free purchases of tangible personal property costing under $500 per item (with certain exceptions). Ohio’s 2024 3-day sales tax holiday is expanded to 10 days from midnight, Tuesday, July 30, 2024, until 11:59 pm, Thursday, August 8, 2024. During