Blog
Can I Claim My Child & Dependent Care On My 2021 Tax Return?
The Child & Dependent Care Credit underwent major changes in 2021 as part of the American Rescue Plan Act. The most significant change includes an increase in the credit of up to $4,000 for one qualifying person and $8,000 for two or more qualifying people....
Why Aren’t Most GoFundMe Crowdfunding Payments Considered Charitable Contributions?
Donations made to a personal GoFundMe fundraiser, rather than a charity fundraiser, are generally considered to be personal gifts and are not guaranteed to be tax-deductible. Only donations made to GoFundMe charity fundraisers (available in the US, UK, Australia, and...
Charitable Donations of Household Goods – How Do I Determine a Dollar Value?
On our website under the Tools/Links tab, you can scroll down to the heading General Links where you'll find a link to a Non-Cash Charitable Valuation Guide. This link takes you to the Salvation Army’s Donation Value Guide. Here you can find values for items from...
Happy New Year!
May the 2021 Tax Season Commence!
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 Small Business Owners!
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...
Reminder: 2020 Extension Tax Filing Deadlines are Quickly Approaching
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...