BREAKING NEWS

Stephen Mazza Joins BMF as Partner!

BMF welcomes with pride and purpose, our newest partner and member of the firm, Stephen Mazza!

Articles & Publications

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 >>

Ohio Back-to-School Sales Tax Holiday – Aug 5-7, 2022

July 12, 2022 Tax Advisor

The Ohio Department of Taxation announced that the 2022 Sales Tax Holiday will begin on Friday, August 5 and run through Sunday, August 7 at 11:59 pm. During the holiday, the following items will be exempt from Ohio sales. 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 >>

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 >>

2021 Year End Tax Planning for Businesses and Individuals

Year-end tax planning is always tricky, but pending legislation prior to year-end adds a whole new layer of complexity to the equation. At the current time, the House has passed the Build Back Better (BBB) Act with numerous changes. Read More >>

President Biden Signs American Rescue Plan Act

On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA), which provides almost $2 trillion to support families and businesses affected by the COVID-19 pandemic. Here is a summary of the tax-related provisions in the Act.. Read More >>

Consolidated Appropriations Act: Changes to the Employee Retention Tax Credit

The Consolidated Appropriations Act, 2021 (CAA) is a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States, with a $1.4 trillion omnibus spending bill to fund the operation of. Read More >>

Congress Passes Year-End Spending, Stimulus Bill with Tax Extenders

The Consolidated Appropriations Act, 2021 (CAA, 2021) passed Congress on December 21, 2020, and is awaiting the President’s signature. The CAA is 5,500 pages that touch on many areas of tax law, and additional changes could occur as the. Read More >>

2020 Year End Tax Planning for Businesses and Individuals

Year-end tax planning is always challenging, but President-Elect Biden entering the White House along with the coronavirus pandemic have added a whole new layer of complexity to the equation. The balance of power in the Senate will be determined. Read More >>