If you didn’t contribute to an IRA last year, there’s still time
Saving now for retirement is one of the smartest moves you can make. if you're eligible, you still have time to contribute to an IRA or SEP.
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Outlook
News, views, and ideas shaping the future.
Whitney Hurtt
Feb 152 min read
Get ready for the 2023 gift tax return deadline
April 15 is also the gift tax return deadline for those who made large gifts last year.Find out if you’re required to file a gift tax return
Chris Collins
Feb 123 min read
What’s the best accounting method route for business tax purposes?
Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take?
Michelle Grant
Feb 123 min read
Filing jointly or separately as a married couple: What’s the difference?
Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.
Anna Rodgers
Feb 123 min read
9 tax considerations if you’re starting a business as a sole proprietor
Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.
Timm Cambridge
Jan 233 min read
IRAs: Build a tax-favored retirement nest egg
How much can you save in an IRA this year & when do you have to start making withdrawals?Here are the answers to these & other IRA questions
Nick Feldman
Jan 222 min read
Should your business offer the new emergency savings accounts to employees?
There’s a new fringe benefit your business may want to offer your employees: pension-linked emergency savings accounts. Here’s how they work
Wally Khoury
Jan 163 min read
Answers to your tax season questions
When will my 1099 forms arrive & when is the best time to file my tax return? Here’s the answer to these & other tax season questions.
Michele Perry
Jan 163 min read
Tax-favored Qualified Small Business Corporation status could help you thrive
There are 2 strong incentives for eligible small businesses to operate as a special type of entity. Learn how this may work for your entity.
Joey Schroeder
Jan 122 min read
The kiddie tax could affect your children until they’re young adults
Do you consider 21- or 22-year-olds to be kids? For purposes of the “kiddie tax,” they might be. Here are the rules.
Shawn Filipowicz
Jan 82 min read
Does your business have employees who get tips? You may qualify for a tax credit
If you’re a restaurant owner with employees receiving tips, you may qualify for a lucrative tax break.
Whitney Hurtt
Jan 23 min read
Defer a current tax bill with a like-kind exchange
Large profits are still being made on some business property. In these cases, a “like-kind" exchange may be attractive when selling.
Victoria Ma
Jan 23 min read
It’s possible (but not easy) to claim a medical expense tax deduction
Can you deduct out-of pocket medical expenses on your tax return? The requirements and limits may make if difficult. Here are the rules.
Tricia Austing
Dec 27, 20233 min read
Don’t overlook taxes when contemplating a move to another state
Are you dreaming of retiring to another state? Before calling the moving truck, examine the state and local tax implications.
Mark Picard
Dec 22, 20232 min read
The standard business mileage rate will be going up slightly in 2024
The price of gas is about the same as it was a year ago. Will this affect the amount your business can deduct for business driving in 2024?
Debora Girardot
Dec 19, 20233 min read
Court awards and out-of-court settlements may (or may not) be taxed
Are you set to receive a personal injury or discrimination settlement or award? Here are the rules for what is taxable and what is not.
Mike Hawkins
Dec 15, 20232 min read
Ohio passes change to Commercial Activity Tax (CAT)
Ohio Governor Mike DeWine signed House Bill 33, the state operating budget for fiscal years 2024 & 2025, making major changes to the CAT.
Whitney Hurtt
Dec 12, 20233 min read
The “nanny tax” must be paid for nannies and other household workers
In 2023, if you pay a household worker cash wages of $2,600+, you must withhold & pay SS & Medicare taxes. What are the amounts for 2024?
Avleen Marwah
Dec 11, 20232 min read
4 ideas that may help reduce your 2023 tax bill
Before you know it, 2024 will be here. Until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.
Troy Skeens
Dec 4, 20232 min read
A company car is a valuable perk but don’t forget about taxes
For many employees, the use of a company car is a cherished perk. But before you hand over the keys, be sure you understand the tax rules.
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