The IRS has announced 2022 amounts for Health Savings Accounts

The IRS has announced 2022 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account...
2021 – 05/12

2021 – 05/12

Four Ohio municipalities will see local income tax hikes. Unofficial results from the May 4 municipal income tax elections indicate that: 1) the Cridersville Village income tax rate will increase from 1% to 1.5%, effective July 1; 2) the Midvale Village income tax...
An S corporation could cut your self-employment tax

An S corporation could cut your self-employment tax

If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of...
Still have questions after you file your tax return?

Still have questions after you file your tax return?

Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive your...