Archive for - January, 2015

Top 10 2014 tax developments that impact 2015

Jan. 29, 2015

Top 10 tax developments of 2014 with impact on 2015 2014 was a notable year for tax developments on a number of fronts. Selecting the “top 10” tax developments for 2014 […]

Increase in maximum federal income tax rate and net investment income tax hit estates and trusts

Jan. 28, 2015

The increase in the maximum federal income tax rate to 39.6 percent and the 3.8 percent tax on net investment income hit estates and trusts especially hard. They apply when […]

Inflation-adjusted tax brackets and retirement-related amounts

Jan. 28, 2015

 New inflation-adjusted tax brackets and retirement-related amounts Under the tax code, the federal income tax brackets as well as other figures, need to be adjusted annually for inflation. Despite a […]

Over- and underpayment interest rates remain same for first quarter 2015

Jan. 27, 2015

Over- and underpayment interest rates remain same for first quarter 2015 The IRS has announced that the rates at which interest accrues on tax overpayments and underpayments of tax for […]

Taxable Income for Long-Term Construction Contracts

Jan. 22, 2015

How to determine Taxable Income for Long-Term Construction Contracts Taxable income from long-term contracts generally must be determined using the percentage of completion method. Under the percentage-of-completion method, gross income […]

Ohio Municipal Tax Reform

Jan. 19, 2015

Ohio House Bill 5 to reform the municipal income tax system was signed by Governor John Kasich in December 2014. It will provide simplification and uniformity to the filing process and […]

What is new – Pocket Tax Guide

Jan. 19, 2015

What are the individual tax rates in 2015? What were they last year? What is the AMT tax rate? Personal exemptions? Mileage rates? Education credit? Download our handy Pocket Tax […]

Ohio taxpayers may get their refunds a little late this year

Jan. 15, 2015

Ohio is working to prevent fraud, and as a result, there could be a delay in taxpayers receiving their refunds. The state is implementing an additional up-front filter, which means that […]

Walthall adds two new employees

Jan. 13, 2015

CLEVELAND – Walthall CPAs is proud to announce the addition of two accountants to its Cleveland and Wooster offices. These new positions reflect Walthall’s growth and commitment to service. Susan […]

Walthall CPAs Relocates Wooster Office

Jan. 05, 2015

WOOSTER – Walthall CPAs is proud to announce the relocation of its Wooster office to 470 E. Milltown Rd, Ste. A, Wooster, OH 44691. The new location is less than […]