2022 Retirement Contribution Limits & Amounts Announced
The IRS recently announced updated retirement contribution limits and amounts for tax year 2022. These changes mean you may be able to increase your retirement contributions for next year. Please refer to the chart below for more details regarding this topic. If you...
Did You Work From Home in 2021? If So, You May Be Entitled To a City Refund at Tax Time.
If you worked from home in 2021, it is possible that you could file a city refund claim come tax time. The State of Ohio has changed a rule that might affect employees who worked from home but lived in a different city than their office’s location. Every situation is...
IRS Extends Tax Changes That Help Individuals and Businesses Give to Charity in 2021
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...
Attention Clients with Children Age 17 and Under!
The federal government has begun to distribute child tax credit payments. You can expect to receive these payments monthly if your adjusted gross income is under $400,000 if filing as Married, or $200,000 if filing as Single, Separate or Head of Household. Please keep...