Articles & Publications

The child tax credit has been getting a lot of attention in the press lately. An updated version of the ChildTaxCredit.gov website was released Monday with new features to assist taxpayers with obtaining the information they need to file. Read More >>

Each year, the IRS issues optional standard mileage rates for the coming year. The rates cover the cost of using your personal vehicle, most commonly for business, but also if you drive for medical, moving, or charitable purposes. Each. Read More >>

*as seen in Crain’s Cleveland Business, January 17, 2022 A properly structured transaction can provide tax benefits to both the buyer and the seller. Typically, buyers want a deductible step-up in basis while sellers want capital gains treatment. Proper. Read More >>

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 >>

The Employee Retention Credit (ERC) was enacted under the March 2020 CARES Act to encourage businesses to keep employees on their payroll and was extended to last until the end of 2021. On December 6, the IRS released IRS. Read More >>

The IRS has announced the 2022 cost-of-living adjustments (COLAs), which impact retirement plans for more than 70 million Americans. These taxpayers will get a 5.9% increase in monthly Social Security benefits and supplemental security income payments in 2022. The. Read More >>

With the bipartisan infrastructure bill expected to be signed into law on Monday, the Biden Administration continues to iron out the details of its Build Back Better framework. Both packages carry significant tax aspects, and we have highlighted the. Read More >>

The IRS released Notice 2021-49 on August 4, which amplifies and clarifies guidance from the two previous Employee Retention Credit (ERC) Notices (see here, and here) and provides additional guidance on the American Rescue Plan (ARP) extension of the. Read More >>

The Ohio Department of Taxation announced that the 2021 Sales Tax Holiday will start on Friday, August 6, 2021, and end on Sunday, August 8, 2021, at midnight.  During the holiday the following items will be exempt from sales and use. Read More >>

The Employee Retention Credit (ERC) under the March 2020 CARES Act encourages businesses to keep employees on their payroll. With this credit now extended through the end of 2021, the tax credit is 70% of up to $10,000 in. Read More >>