Oct 4, 2021 | Corporate Tax, Personal Tax, Tax Planning, Uncategorized
In 2020 lawmakers put in place several provisions that allowed for additional tax benefits for individuals and businesses making charitable donations. As in 2020, the following tax benefits are in place: • Taxpayers who do not itemize can claim a deduction of up to...
Sep 22, 2021 | Business Consulting, Corporate Tax
In honor of the IRS’ Small Business Week, we wanted to make you aware of a variety of small business resources, including a guide to starting a small business, assorted tax tips and a video portal. In conjunction with this, and as we approach the end of another...
Sep 9, 2021 | Corporate Tax, IRS, Personal Tax
Just a friendly reminder that extended 2020 Corporate and Partnership tax returns are due next week. Extended personal returns are due next month. We look forward to the opportunity to help all of our extended clients file their returns on time. In order to achieve...
Aug 2, 2021 | Business Consulting, Corporate Tax
The IRS recently approved a temporary 100% deduction for some business meal expenses incurred during the 2021 and 2022 calendar years. In order to qualify, expenses must meet the following criteria: Paid or incurred after 12/31/20 and before 01/01/2023 with the meal...
Dec 22, 2020 | Corporate Tax, Personal Tax
The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2021, the standard mileage rates for...
May 18, 2020 | Corporate Tax, COVID-19, Personal Tax
Note: each county appears to have their own new due date! Belmont (from July 20, 2020 to August 21, 2020) Cuyahoga (from July 20, 2020 to August 13, 2020) Delaware (from July 20, 2020 to August 20, 2020) Franklin (from July 20, 2020 to August 5, 2020) Geauga (from...
