Posts by Joseph Popp, JD, LLM:
Thinking of Doing InvestOhio? Additional Guidance Released
January 9th, 2012Approximately 70 percent of the $100 million in tax credits remain available for Ohio’s InvestOhio nonrefundable tax credit program. Through InvestOhio, Ohio you can invest in qualifying Ohio small businesses as an individual taxpayer. Then, you can receive a credit for 10 percent of the amount invested against their personal Ohio income tax if they meet certain requirements. Read the rest of this entry “
Is Your Business in the Crosshairs? Ohio Commerce Div. Examines Taxpayers for Unclaimed Funds
January 3rd, 2012Businesses that owe customers funds and are unable to contact them can face substantial penalties from the Ohio Department of Commerce if they don’t properly report these accounts. Read the rest of this entry “
Is 2011 the Year to Give? IRA Contributions to Charity
December 9th, 2011If you’re thinking about donating a portion of your IRA to charity, you’ll receive a greater tax benefit if you do so before December 31. A popular provision is set to expire at the end of the year, and there is no guarantee the provision will appear in an extender bill in Congress anytime soon. Read the rest of this entry “
Are You Ready for the Next Phase of InvestOhio?
November 30th, 2011Recently we’ve been telling you about Ohio’s new nonrefundable tax credit program called InvestOhio. Through it, Ohio taxpayers who invest in qualifying Ohio small businesses can qualify for a 10 percent credit against their personal Ohio income tax if they meet certain requirements. In less than two weeks, taxpayers can begin the second step in the application process for this tax credit. Read the rest of this entry “
Are You Ready for the InvestOhio Tax Credit? Register for Tax Credit This Week
November 15th, 2011Ohio taxpayers who invest in a qualifying Ohio small business can qualify for a 10 percent credit against their Ohio income tax if they meet certain requirements – and they can now apply for the credit. Read the rest of this entry “
Higher Gas Prices Mean Higher Business Mileage Deduction
June 24th, 2011In a nod to higher gas prices, the IRS has increased the business mileage rate deduction to 55.5 cents per mile. The new rate becomes effective July 1 and raises the rate 4.5 cents. The deduction for medical and moving expenses also increases 4.5 cents to 23.5 cents per mile. Read the rest of this entry “
Live or Do Business in Michigan? Tax Amnesty Ends Soon
June 13th, 2011The Michigan Department of Treasury is providing an opportunity for delinquent taxpayers to pay their taxes while avoiding penalty charges and criminal prosecution, but time is running out to participate in the program. Read the rest of this entry “
Want to Look Back in Time? See an 1864 Tax Return
June 3rd, 2011Recently blogger Paul Caron, a professor of law at Cincinnati College of Law, shared an IRS tax form from 1864. The form was two pages, and 10 questions. As our country considers ways to simplify our current tax laws, it may make sense to look at where and how our tax laws began nearly 150 years ago. Read the rest of this entry “
Didn’t File Your Taxes or Can’t Pay Them Now? Here’s What To Do
April 29th, 2011The federal tax deadline has come and gone. What if you haven’t filed your taxes? Read the rest of this entry “
What’s the Latest on 1099 Reporting?
April 15th, 2011When it comes to 1099 reporting rules, it’s out with the new and in with the old. Read the rest of this entry “
