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What are miscellaneous itemized deductions?

Apr. 18, 2017

Miscellaneous itemized deductions are certain nonbusiness expenses that individuals as taxpayers who otherwise itemize deductions may take against their taxable income. Such miscellaneous expenses are allowed only to the extent […]

How do I maximize start-up deductions for a new business?

Apr. 13, 2017

Starting a new business venture can be exciting, but rather costly. There are certain tax advantages that can help alleviate some of the financial burden associated with entrepreneurship. Learn how […]

How are LLCs taxed?

Apr. 06, 2017

An LLC (limited liability company) is not a federal tax entity. LLCs are organized under state law. LLCs are not specifically mentioned in the Tax Code, and there are no […]

New guidance issued for claiming the Payroll Tax Credit for increasing research activities

Apr. 04, 2017

New IRS guidance explaining how a small start-up business can take advantage of a new option regarding the research credit was recently announced. Though small start-ups entities often have little […]

Early credit scores matter

Mar. 23, 2017

March is Credit Education Month! Most high school and college students are too busy thinking about final exams to worry about their credit score, but poor financial choices now can […]

What to do if you receive an IRS suspicious return letter

Mar. 22, 2017

Tax-related identity theft spikes during the filing season. Many taxpayers discover for the first time that they are victims of identity theft when they receive an IRS suspicious return letter. […]

Make sure your nonprofit still exists under Ohio law

Mar. 21, 2017

Almost all nonprofit corporations incorporated in Ohio need to file a verified statement of continued existence with the secretary of state. This form provides the corporate name, place where the […]

What you should know about maintaining automobile expense logs

Mar. 16, 2017

If you use your car for business purposes, you may have learned that keeping track and properly logging the variety of expenses you incur for tax purposes is not always […]

Consolidation guidelines for nonprofits

Mar. 14, 2017

Does your nonprofit organization have partial ownership over a for-profit entity? Is your organization a general or limited partner for that organization? The FASB recently issued an amended Accounting Standards […]

Is your nonprofit in compliance?

Mar. 07, 2017

In 2016, the IRS embarked on a plan to check on nonprofit compliance to ensure organizations meet the requirements for exemption and are in compliance with all applicable federal tax […]