Unusual year steers year-end tax strategies

Unusual year steers year-end tax strategies

Like so many things this year, the recommended practices for your annual end-of-the-year tax planning reflect the COVID-19 pandemic and its far-flung effects. The economic impact, as well as federal relief packages like the CARES Act, may render some tried-and-true...
Buying and selling mutual fund shares: Avoid these tax pitfalls

Buying and selling mutual fund shares: Avoid these tax pitfalls

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund...
The 2021 “Social Security wage base” is increasing

The 2021 “Social Security wage base” is increasing

If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently announced that the maximum earnings subject to Social Security tax will increase from $137,700 in 2020 to...
Accountants shifting to more advisory services amid coronavirus

Accountants shifting to more advisory services amid coronavirus

Accounting Today Michael CohnOctober 16, 2020 Accountants and tax professionals have been helping their small business clients deal with the economic fallout from the COVID-19 pandemic, shifting away from their routine compliance work after the end of the prolonged...

2019 Ohio Individual Income Tax or Ohio School District Income Tax Non-Remittance Billing Notice Starting October 13th, 2020, the Ohio Department of Taxation (ODT) will begin mailing non-remittance notices to taxpayers who have not paid in full their 2019 Ohio...