Elek & Noss Blog | Ohio CPA Firms | Cleveland Accounting & Business Consultants

2024 Standard Mileage Rates

Beginning on January 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

Tax Preparation and Delivery 2022

First, we would like to thank you for allowing Elek & Noss CPA’s to be your financial service provider during these uncertain times. As your CPA, we feel it is important to keep you informed of how the Covid-19 pandemic is impacting our industry, which in turn, impacts you as a client.

Why Should Taxpayers Set Up an IRS Account?

The Internal Revenue Service (IRS) has a feature where individuals can access their IRS account through its' website. Individuals can access

Employee Retention Credit Opportunities

In March 2021, the Employee Retention Credit (ERC) was extended through December 31, 2021, and expanded as part of the American Rescue Plan Act of 2021. The ERC is a tax credit first put in place last year as a temporary coronavirus-relief provision to...

Still Haven’t Received Your Tax Refund; Here’s Why:

The Internal Revenue Service (IRS) is behind, and the backlog is getting longer. In addition to processing 136 million tax returns...

Update on Ohio Tax Changes

On Thursday, July 1, 2021, Governor Mike DeWine signed Am. Sub. House Bill 110 (HB 110) into law.

Year-End Tax Planning 2020

As the end of the year is fast approaching, we should consider any last-minute strategies that might help reduce your 2020 tax bill. Now is the time to start your year-end tax planning...

City Tax Net Operating Loss (“NOL”) Carryforwards

There have been quite a few changes to Ohio’s Municipal Tax over the last few years. With the passage of Municipal Income Tax Reform bill...

2020 Tax Law Update

On Friday, December 20, 2019, the President signed the Further Consolidated Appropriations Act, 2020 (the “Act”) which addresses several tax provisions such as retirement plan funding and distribution reform, items related to expiring or expired tax provisions (“tax extenders”), and disaster tax relief.

Business, Medical, and Moving Standard Mileage Rates Decrease for 2020

The Internal Revenue Service has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Year-End Tax Planning 2019

As the end of the year is fast approaching, we should consider any last-minute strategies that might help reduce your 2019 tax bill. Now is the time to start your year-end tax planning...