No one enters a relationship wanting to get jilted. It’s true whether you’re entering a business together or a marriage together – and the consequences can be even more painful if you’re doing both at the same time. (more…)
Archive for the ‘Uncategorized’ Category
Do You Have a Business Pre-nup?
Monday, January 30th, 2012Does New 1099 Reporting Affect You?
Wednesday, January 25th, 2012If your business has paid at least $600 in professional services or other payments in 2011, you may be subject to a new 1099 reporting requirement as you begin to file your 2011 taxes. (more…)
Selling Your Business? Moving Out of State Won’t Save Taxes
Friday, January 20th, 2012If you’re considering selling your closely-held business, moving out of state may have crossed your mind as a way to avoid paying Ohio personal income tax on your gains. You might be surprised to learn that simply residing outside the State of Ohio won’t protect you from paying Ohio personal income tax on gains from selling your debt or equity in your business. (more…)
Filing a 990? Some Tax-Exempt Groups Receive a Deadline Extension
Tuesday, January 17th, 2012The IRS recently announced an extension until March 30, 2012, for tax-exempt organizations that normally have a January or February return filing deadline. (more…)
Surpise! Your Business Might Owe Retroactive Federal Unemployment Taxes
Wednesday, January 11th, 2012Employers may surprised to find that they owe more federal taxes on employee wages than they expected for 2011 and they could continue to pay more in 2012. Ohio, Michigan, Indiana, Kentucky and Pennsylvania are just a few of the 21 states that accepted a loan from the federal government for unemployment insurance that have outstanding balances on the loan – and as a result are collecting more federal unemployment taxes. (more…)
Thinking of Doing InvestOhio? Additional Guidance Released
Monday, 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. (more…)
Is Your Business in the Crosshairs? Ohio Commerce Div. Examines Taxpayers for Unclaimed Funds
Tuesday, 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. (more…)
Thinking of Gifting Money to Relatives? Late 2011 and Early 2012 May Be Best Timing
Wednesday, December 28th, 2011If you’ve been considering making a monetary gift to your children or other relatives, you may want to make your gift well before December 31. And better yet, if you haven’t made any previous gifts in 2011, you can gift up to $13,000 in 2011 and follow up with a gift of up to $13,000 in early 2012. (more…)
PKV
Monday, November 1st, 2010the useful ideas u provided do help the investigation for my company, thanks.
- Lucas
How does your state get its tax revenue?
Monday, August 30th, 2010If you’ve ever wondered what types of tax revenue make up your state government’s budget, the Tax Foundation recently compiled a breakdown of state use of property tax, sales tax, personal income tax and licenses and other taxes. The results are based on newly-released Census data.
Our home state of Ohio, for example, ranks tenth in the nation for its reliance on personal income tax, which makes up 30 percent of its total revenue. Other taxes include general sales tax at 20 percent, selective sales tax at 11 percent, corporate income tax at 1.9 percent and licenses and other taxes at 7.5 percent.
Click here to view the detailed report.
