Newsletter

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 information surrounding Beneficial Ownership Information (BOI) reporting requirements. Whether you missed the live session or want to revisit key points,…

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 rules. What is the Corporate Transparency Act? This was an act that went into effect in 2021 and was designed to…

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 discontinuation does not affect the QuickBooks Desktop Enterprise versions. What does this mean for current QuickBooks Desktop users? Intuit has stated current users…

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 aims to encourage dining out and support local businesses during this period. Key Points to Note:…

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 electronically and by check for tax year 2023. The IRS has issued a statement that some of these notices have…

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, what this means for you is that certain payment may be tax free. These include: Taxable Payments:However, some payments…

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 these expenses. When you are taking note of “Meal & Entertainment” records, you may file them all away into a…

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 restricts certain geographic areas, industries, or competitors for a specific period following an employee’s departure from your company. Here are some…

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 unusual last few years in our business. So much so, that I’ve…

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 bipartisan piece of legislation that passed, overwhelmingly, in the House of Representatives, but is currently stalled getting…