Insights
From the newsletter.
Plain-English tax, accounting, and business advice from our team. New posts come straight from our newsletter.
- Tax
Is Your Business Structure Still a Good Fit?
As your business grows, the structure that worked when you first started may no longer be the best fit. At HD Growth Partners, we look beyond tax-return preparation to help identify planning opportunities - including...
- Tax
Build Wealth by Hiring Your Kids
There are many strategies to reduce tax liability, however we want to share one of our favorites. If you have children and own a business this one may make sense for you.
- FinOps
EIDL Loans: What S-Corps Should Know
We wanted to share important information regarding S-Corporations and Economic Injury Disaster Loans (EIDL) administered by the Small Business Administration (SBA). EIDL loans provide businesses with access to capital…
- Tax
Is Your Business Ready for Tax Season?
The summer is quickly winding down, and tax planning season is in full swing! Clients who want to achieve the results they anticipate in March and April are making tax planning a priority now. Proactive planning sets…
- Tax
IRS Mileage Rate Change
Are You Tracking Mileage? New IRS Changes Make It More Valuable Due to rising fuel prices, the Internal Revenue Service (IRS) standard mileage rate for Q3 and Q4 of 2026 has increased once again to 76 cents per mile.…
- Tax
Multi-State Sales Tax: What Every Business Needs to Know
Operating in multiple states can make it challenging for businesses to keep up with varying rules and regulations. If your business sells or operates across state lines, understanding your sales tax obligations is…
- Tax
Navigating Tax Deadlines with Confidence
We are quickly approaching critical tax deadlines: March 15th for passthrough entities (partnerships and S-corporations) and April 15th for individual, C-Corporation, and trust returns. It’s important to consider what…
- Tax
Retirement Plans: Finding the Right Fit for Your Business
With so many retirement account options available, choosing the right plan can feel overwhelming, but the payoff is well worth the effort. The right retirement plan doesn’t just help you save more and reduce your tax…
- Payroll
Employee vs. Contractor
Determining whether a worker is an employee (paid via payroll) or an independent contractor (issued a 1099) can be difficult for many business owners. Because each tax agency applies its own criteria, classification…
- Tax
Holiday Season = Crucial Final Tax Planning Opportunities
The month of December is a unique month for many of our clients. Retail and hospitality clients are in a crucial part of their year. Manufacturing, transportation and service industries tend to see a bit of a slowdown…
- Firm News
HD Growth Partners Adds Onpointe Advisors to Elevate Support for Business Owners
Youngstown, OH,December 4th, 2025, HD Growth Partners, a leading tax, accounting, and business advisory firm headquartered in Youngstown, Ohio, today announced its merger with Onpointe Advisors, an award-winning…
- Tax
Avoid Costly Penalties and Maximize Tax Benefits
As we continue to head towards the end of the calendar year it’s important to understand what an RMD is and how it may affect you. What is an RMD? RMD’s or Required Minimum Distributions is the minimum amount that the…
- Tax
Hobby or Business? Why the Distinction Matters at Tax Time
Is Your Activity a Hobby or a Business? Understanding the Difference Determining whether an activity qualifies as a business or a hobby can be tricky, and it can have a big impact on tax treatment. The IRS looks…
- FinOps
Five Tips for Cash Flow Management in Q4
As we surge through the final quarter of the year, it’s important to know that your business checking account balance might not be telling the full story. With the holiday season approaching, many businesses face a…
- Tax
IRS Notice CP2000 and Why You Shouldn’t Be Afraid
The IRS occasionally issues CP2000 notices, known as Automated Underreported Notices. These are sent when there’s a difference between the income, deductions, or credits reported on your tax return and the information…
- Tax
Secure Your 2025 Tax Strategy Before It’s Too Late
As the year begins to wind down, there’s less time available to develop and implement a tax strategy for 2025 before the window of opportunity closes. Initiating these discussions now can impact decisions that can…
- Tax
Pass-Through Entity and Fiduciary Income Taxes Move to OH|TAX
Effective November 12, the Ohio Department of Taxation is launching significant changes to improve and modernize the way taxes are managed online. The state of Ohio has introduced a much more user-friendly and…
- Payroll
Ohio pays you $15K per STEM hire (first-come basis)
The State of Ohio just started writing $15,000 checks for every STEM professional you convince to move here. No catch. No retention requirements. No payback period. First-come, first-served until the money’s gone.…
- Tax
Ohio Department of Tax Issues Warning
We wanted to make you aware of a recent alert issued by the Ohio Department of Taxation (ODT) regarding a new text message scam targeting Ohio taxpayers. The scam involves fraudulent text messages claiming that a tax…
- Tax
Tax Alert: One Big Beautiful Bill Passed into Law
On Independence Day, President Donald J. Trump signed into law the much anticipated One Big Beautiful Bill, delivering sweeping changes to the tax code with immediate and long-term implications for both individuals and…
- FinOps
How to Prepare for the Impact of Tariffs: A Playbook for SMB Owners
🧭 WHY TARIFFS MATTER NOW Recent trends show tariffs are not just political talking points, they’re financial realities for businesses of all sizes. The latest Vistage CEO Pulse confirms that rising tariffs on Chinese…
- Payroll
QuickBooks Pricing Is Changing, but So Can Your Bottom Line
Heads up! QuickBooks is rolling out price changes starting July 1, 2025 (for Online & Payroll) and October 1, 2025 (for Desktop products). We know that price increases aren’t anyone’s favorite news, but there’s a silver…
- FinOps
Is Your Business Ready? New PA Annual Report Requirements
Hello all, Starting in 2025, most businesses registered in the state of Pennsylvania will be required to file an Annual Report. The state has recommended filing online at https://file.dos.pa.gov/ The PA Department of…
- Tax
Real Estate Professional Status Requirements
As the real estate market continues to evolve, we want to ensure you’re informed about important tax court decisions that may impact your investment strategy and tax planning. In this newsletter, we’re focusing on a…
- Payroll
What to Know About 1099s
Hi all, This newsletter is to clarify and give guidance on a subject that has been a topic of much importance with many of our clients in years past and will continue to be moving forward. Many business owners need…
- FinOps
Important Update: Exempt Salary Threshold Increase Blocked by Court
Hi all- We wanted to share an important update regarding the planned changes to the federal salary thresholds for white-collar exemptions under the Fair Labor Standards Act (FLSA). On November 15, 2024, the U.S.…
- FinOps
UPDATE: BOI Reporting Regulations
Hello, You may have heard that on December 3, 2024, a federal court in Texas issued an injunction suspending the mandatory BOI reporting regulations on a going forward basis. If we have already completed your BOI report…
- Tax
Important Reminder: BOI Reporting Deadline is 12/16
Hi all- As the year comes to a close, we want to remind you of an important deadline that could significantly impact your business: Beneficial Ownership Information (BOI) Reporting Forms are due to us by December 16,…
- Tax
Tax Planning in 2025: What Trump’s Re-Election Means for You
Now that the election is over, the tax proposals made by Donald Trump on his campaign trail are re-shaping how Americans are planning for their taxes. The overall theme on Trump’s proposed tax policy includes increasing…
- Firm News
Join Us for Tressel & Muransky, A Night of Stories and Support
Hi all- I would like to highlight a fantastic community event happening next month on Monday, November 25th that promises to be both entertaining and inspiring. Join us at The Lake Club for a limited-audience…
- Tax
NEW SCAM ALERT!, form 4022
Hi all- We wanted to make you aware of a recent scam going around involving a fraudulent document being requested called “Form 4022”. What You Need to Know Staying Protected We are committed to keeping you informed and…
- FinOps
BOI Webinar
We are excited to share that the recording of our recent webinar on BOI Reporting, hosted by the Youngstown Business Journal, is now available! During this webinar, our team discussed the latest updates and critical…
- Tax
BOI Reporting
As you may have seen, the Corporate Transparency Act (CTA) has introduced new requirements in reporting Business Ownership Information (BOI). I wanted to review the changes with you and help you navigate these new…
- Payroll
QBD Discontinuation
Recently, Intuit QuickBooks has released a notice that they will be discontinuing the desktop version of QuickBooks Pro Plus, Premier Plus, Mac Plus, and Enhanced Payroll for new subscribers as of 9/30/24. This…
- Tax
Restaurant Sales Tax Holiday
We are pleased to inform you that Ohio will be implementing a sales tax holiday exclusively for dine-in meals for the first time, spanning from 12:00 a.m. on July 30th to 11:59 p.m. on August 8th, 2024. This initiative…
- Tax
IRS CP14
Starting this summer, some taxpayers have received an IRS notice CP14 indicating a balance is due on their 2023 Form 1040 return even though payments have already been made. This has affected taxpayers who paid…
- Tax
East Palestine, taxable Payments
We have an important update to share with you regarding the new IRS update for those impacted by the train derailment. Here are some key takeaways: Tax-Free Payments:The IRS has classified the derailment as a disaster,…
- Tax
Meal Chart
As the beginning of golf season (and summer) approaches, you may start taking clients out for networking and recruiting opportunities. We wanted to provide some tips to help you prepare for next tax season regarding…
- FinOps
Non-Compete HR Updates
We wanted to inform you of some significant changes regarding the non-compete agreements as they may impact your business procedures. As a reminder, a non-compete is an agreement between an employer and employee that…
- Tax
Taxes and Golf ⛳
This week has quickly become one of my favorite weeks of the year. The Masters tournament kicks off for those of us that are golf fans and I start to turn my focus to our strategies for the coming year. It’s been an…
- Tax
The Tax Relief for American Families and Workers Act of 2024
Here we go again… Congress is currently (slowly) working on pushing through a bill that would have rules that would be applied retroactively to 2023. The Tax Relief for American Families and Workers Act of 2024 is a…
- Tax
Tax Season, our New World
Hey All! The last few years have changed our industry drastically. We used to be able to start tax return preparation in January and go until April 15th. But, due to a variety of factors, the “tax season” has become…