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Big Changes Ahead: What the OBBBA Means for Your Itemized Deductions

Big Changes Ahead: What the OBBBA Means for Your Itemized Deductions

The OBBBA introduces major tax changes, some starting in 2025, including elimination of the Pease limitation, increased SALT deduction caps to $40,000 through 2029, new charitable contribution floors, and temporary deductions for tips, overtime pay, and car loan interest. These complex changes require careful tax planning analysis.

What Ohio’s New $60B Budget Means for Taxpayers and Business Owners

What Ohio’s New $60B Budget Means for Taxpayers and Business Owners

Ohio’s newly signed $60 billion budget introduces significant tax changes, including a phased-in 2.75% flat income tax and maintained 3% business income tax. We are monitoring legislative developments to help keep you informed. At N&Co, we are available to provide year-round guidance to keep you compliant in Ohio’s ever-evolving tax landscape.