Employers should be wary of ERC claims that are too good to be true
Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? Is it too good to be true?
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Outlook
News, views, and ideas shaping the future.
Nick Feldman
Jan 3, 20233 min read
The standard business mileage rate is going up in 2023
The price of gas is lower than it was a year ago. How does this affect the amount your business can deduct for business driving in 2023?
Brian Stautberg
Dec 28, 20225 min read
Year-end spending package tackles retirement planning, conservation easements
Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act.
Jamie Applegate
Dec 27, 20222 min read
Renting to a relative? Watch out for tax traps
You may want to rent out a property you own to a relative at a discount. If so, be aware of these tax rules.
Gwen DiMeo
Dec 27, 20221 min read
2020 Payroll Tax Deferral Installment due December 31
Under the CARES Act, employers were allowed to defer payment of certain 2020 payroll taxes until 2021 and 2022. The second half is due soon.
Timm Cambridge
Dec 13, 20222 min read
Selling stock by year-end? Watch out for the wash sale rule
Selling losing stock may reduce your 2022 tax bill. But beware of the “wash sale” rule.
Mike Hawkins
Dec 12, 20222 min read
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at year-end.
Sarah Dmytryk
Dec 7, 20222 min read
Does your family business’s succession plan include estate planning strategies?
Are you a family business owner who needs to work on your succession plan? Consider whether, and when, to give up control of the company.
Ellyn Strittholt
Dec 6, 20222 min read
Answers to your questions about taking withdrawals from IRAs
You may spend years building up your traditional IRA but at some time you must start taking withdrawals. Here are answers to FAQs about RMDs
Mary Pat Brady
Dec 5, 20222 min read
Choosing a business entity? Here are the pros and cons of a C corporation
You may wonder if you should operate as a C corporation or another entity. Here’s a summary of what will happen if you choose C corporation
Nick Feldman
Nov 29, 20223 min read
Strategies for investors to cut taxes as year-end approaches
The end of the year is a good time to examine your portfolio for tax purposes. Here are some strategies that may save you taxes.
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Nov 16, 20222 min read
Ohio credit for contribution to SGO's
In 2021 the state of Ohio put in place a dollar for dollar credit for contributions to qualified Scholarship Granting Organizations (SGO's).
Chris Collins
Nov 16, 20222 min read
Computer software costs: How does your business deduct them?
The tax treatment of computer software costs can be more complicated than you might think. Here are the basic rules.
Victoria Ma
Nov 16, 20223 min read
How savings bonds are taxed
Do you own savings bonds? Here’s how the interest on the bonds is taxed.
Linda Brogan
Nov 9, 20223 min read
Adopting a child? Bring home a tax break too
Adopting a child can be expensive. Fortunately, there may be a valuable tax break for parents. Here are tax credit amounts for 2022 & 2023.
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Nov 8, 20222 min read
2023 limits for businesses that have HSAs — or want to establish them
Do you have a HSA at your business? Or are you interested in establishing one? Here are the contribution limits for next year.
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Nov 1, 20222 min read
Inflation means you and your employees can save more for retirement in 2023
The tax-advantaged retirement plan contribution amounts will be much higher next year than they in the past. The reason? Inflation.
Sarah Dmytryk
Oct 26, 20225 min read
What do the 2023 cost-of-living adjustment numbers mean for you?
Don’t forget to factor 2023 cost-of-living adjustments into your year-end tax planning.
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Oct 25, 20223 min read
You may be liable for “nanny tax” for all types of domestic workers
What will the amount for withholding & paying taxes be in 2023 for a household worker? Here's the answer, as well as other tax obligations.
Janie Evans
Oct 25, 20224 min read
Inflation Reduction Act expands deductions for energy-efficient construction
Can you benefit from the IRA’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings?
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