The Ohio Dept. of Taxation recently issued a tax alert with guidance related to the federal deduction for unemployment benefits for tax year 2020. The department has added instructions from that alert to an FAQ on its COVID-19 tax relief webpage. The FAQ focuses on filing and amending a state tax return after the IRS issues a refund to a taxpayer who filed his or her federal and Ohio tax returns prior to the enactment of the federal unemployment benefits deduction. Read FAQ #1 here: https://bit.ly/3fWu2Sc
There still may be time to reduce your small business 2023 tax bill
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take advantage of a few opportunities. Time deductions and income If your business operates on a cash basis,...
