BREAKING NEWS

Richard C. Fedorovich to Receive H. Peter Burg Award

Richard C. Fedorovich has been selected as the 2023 recipient of the H. Peter Burg Economic Development Leadership Award, presented by the Greater Akron Chamber.

Articles & Publications

Research & Development Accounting Method Changes (Section 174)

Under the 2017 Tax Cuts and Jobs Act (TCJA), the tax treatment of research and development (R&D) expenses have changed. These costs, also known as research and experimentation (R&E) costs, impact all taxpayers that have R&D expenses, not only. Read More >>

2022 Year-End Tax Legislation Guidance

January 4, 2023 Tax Advisor

Congress has come together and agreed on an $1.7 trillion omnibus appropriations bill that was signed by The President last Thursday. Unfortunately, The Bill did not contain tax provisions that many were hoping for, such as the expanded Child. Read More >>

2022 Year End Tax Planning for Businesses and Individuals

As another year ends, we still have uncertainty whether a tax package will be included in legislation to extend expiring tax credits, delay or remove the change to the treatment of research and development expenses or if the child. Read More >>

Employee Retention Credit: Be cautious of fraudulent schemes

October 28, 2022 Tax Advisor

The Employee Retention Credit (ERC) is still a hot topic at networking events, trade organizations and other gatherings for business owners and executives. The ERC is a tax credit, which was part of the COVID relief packages, focused on. Read More >>

2023 Cost-of-Living Adjustments (COLAs)

This week, the IRS announced the 2023 cost-of-living adjustments (COLAs), which impact retirement plans for more than 67 million Americans. In addition, the Social Security Administration announced the 2023 social security wage base will be $160,200, which reflects a. Read More >>

Inflation Reduction Act – New & Expanded Tax Credits

On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law. The major impact of the IRA is the government’s investment in clean energy and sustainability through incentives and tax credits. The credits are designed to. Read More >>

Incentivizing Manufacturing: CHIPS and Science Act, Inflation Reduction Act

Before going into their August recess, both Houses passed the CHIPS and Science Act of 2022, which The President is expected to sign shortly. The Senate also announced the Inflation Reduction Act of 2022 as a budget reconciliation bill.. Read More >>

Pass-Through Entities: A New Tax Break for Ohio Business Owners

On June 14, 2022, Ohio passed a law to help pass-through entity (“PTE”) owners deduct state taxes. The new law will provide PTE owners with a state “work-around” tax that is not intended to be subject to the $10,000. Read More >>

Navigating IRS Notices

With tax season now over, the IRS has begun sending out notices for recently filed returns. There is no need to panic as these notices are sent for a variety of reasons that do not always involve owing more. Read More >>

Remote Working: Tax Friend or Foe?

COVID-19 has certainly accelerated many shifts for businesses and employees, most notably remote working. Since many employees were forced to work from home due to government mandates or CDC recommendations, employees were able to show that they could work. Read More >>