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IRS Releases 2012 Optional Standard Mileage Rates

The IRS has released the 2012 optional standard mileage rates that employees, self-employed individuals, and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes. The 2012 standard mileage rate remains at 55.5 cents per mile for business uses, is reduced…

Three Percent Withholding and Job Creation Act

President Obama Signs Act Eliminating Three Percent Withholding Requirement and Enhancing Incentives for Hiring Veterans

On November 21, 2011, President Obama signed the Three Percent Withholding and Job Creation Act (Act) into law. The law repeals a requirement that 3 percent of payments be withheld by federal or state governments to any person for services…

18
Nov

InvestOhio Credit Brings Opportunity

New program provides significant tax credits for qualified business investments

The state of Ohio announced this week that registration for the InvestOhio tax credit program will begin Monday, November 14 at 8 a.m. Only $100 million in credits will be awarded for the period of July 1, 2011 – June 30, 2013 and they will…

November 2 , 2011 | Posted by Willie Craig | No Comments

Cassady Schiller Seeks Seasonal Tax Accountant

Cassady Schiller is one of the top accounting firms in Cincinnati and a 2010 and 2011 finalist in the Cincinnati Business Courier’s Best Places to Work award. We are searching for a seasonal senior tax accountant to work January through April (recurring). The senior tax accountant will prepare individual, partnership and corporate tax returns.

October 12 , 2011 | Posted by Gwen DiMeo |

Get an Early Start on Planning

As we rapidly approach the end of the year, it is impossible to over emphasize the importance of tax planning.  Taxpayers are always looking for savings opportunities during March and April, but many opportunities for tax reduction rely on planning and strategy throughout the year.  With the year already more than half over, time is…

January 15 , 2011 | Posted by Mike Hawkins |

Time to Revisit General Business Credits

In the fall of 2010 Congress radically changed the way that general business credits can be applied for small businesses.  General business credits include the research and development tax credit, the work opportunity credit, the low-income housing credit and many others. In recent years many companies and individuals that qualified for credits were unable to utilize them due to the…

8
Jan

Section 179 Expense Allowances Increased

Section 179 provides businesses the ability to expense certain purchases of personal property rather than depreciate them over a number of years. It’s not a new section of the tax code, but Congress gave it some teeth for the next few years. In an attempt to spur business investment and to make this provision available…