November 12 , 2013 | Posted by Gwen DiMeo |

IRS Eases Rules for Flexible Spending Plans

The IRS announced an easing in the use it or lose it rules for flexible spending accounts. The new rules allow flexible spending plans to allow employees to carry over up to $500 from one year to the following year without forfeiture.  This change means that workers won’t have to hurry to clean out their…

October 25 , 2013 | Posted by Willie Craig |

Tax Filing Season Delayed

Although the government shutdown is over… The tax system continues to feel the effects. Taxpayer service is the big loser from all this. IRS is delaying the start of the filing season by up to two weeks…to as late as Feb. 4. The agency had planned to start taking 2013 returns on Jan. 21, but the shutdown came during the testing…

August 9 , 2013 | Posted by Mike Hawkins |

Do Small Businesses Pay the Highest Taxes?

Do small businesses pay the highest taxes? According to a recent study conducted by Quantria on behalf of the National Federation of Independent Businesses, S-Corporations pay the highest effective tax rates of any type of business in the U.S.

So what does this mean for policymakers? What does it mean for small businesses? For policymakers,…

July 2 , 2013 | Posted by Brian Stautberg |

Governor Kasich Signs 2014-2015 Ohio Fiscal Budget

Governor Kasich has signed the 2014-2015 Ohio state fiscal budget into law, bringing changes to sales and use, personal, and commercial activity taxes. Below is a summary of the changes that may affect you or your business.

Sales and Use Tax

The Ohio state sales tax rate will increase from 5.5% to 5.75% on September…

The Ohio BWC Approves $1 Billion Rebate

The Ohio Bureau of Workers’ Compensation (BWC) has approved the distribution of $1 billion in cash rebates to 210,000 Ohio employers. The BWC board approved a 2.1% average reduction in base rates for private employers that will account for an aggregate savings of $29 million for the policy period July 1, 2013 through June 20, 2014. The…

2013 First Quarter Federal Tax Developments

April 15 has come and gone but it’s not time to stop thinking about taxes and strategic tax planning opportunities. Since the start of 2013, there have been many new federal tax developments which will impact tax planning for this year and beyond. As 2013 unfolds, many changes made to the Tax Code by the…