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 revenue with tariffs and tax cuts for business owners, workers, and retirees. The following shows a summary of the…

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 conversation between Jim Tressel and Ed Muransky. Topics of the night include the OSU-UM rivalry, NIL impact on college sports,…

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 ensuring your data remains secure.Please feel free to contact us at 330-759-8522 if you have any questions…

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…