Social Security’s future: The problem and the proposals

Social Security’s future: The problem and the proposals

Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American politics and understandably so — the options for heading off...

Ohio Adoption Tax Credit

Ohio has a new initiative to support adoptive families.  The Ohio Department of Job and Family Services (ODJFS) made a recent decision to provide financial grants to Ohioans who adopt a child.   The adoption process not only takes an emotional toll on...
The IRS clarifies what counts as qualified medical expenses

The IRS clarifies what counts as qualified medical expenses

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic rules and IRS...
Tax news for investors and users of cryptocurrency

Tax news for investors and users of cryptocurrency

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the box Beginning with tax year 2022, taxpayers must check a box on their tax...
The tax advantages of hiring your child this summer

The tax advantages of hiring your child this summer

Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a...