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Tax Relief Information for Hurricane Victims

The Internal Revenue Service has issued extensions and tax relief measures as a result of the hurricanes that hit Texas, Florida, Puerto Rico and the US Virgin Islands. The IRS is offering relief to an area designated by the Federal Emergency Management Agency (FEMA) as qualifying for assistance.

Ohio Tax Free Weekend - 2017 Back to School Schedule

Ohio will have a sales tax holiday from Friday, August 4, 2017 at 12:00 a.m. to...

Proposed PPACA Replacement Bills Contain Many Tax Changes

House Republicans released draft bills to repeal and replace the Patient Protection and Affordable Care Act. Collectively known as the American Health Care Act, the bills would repeal most of PPACA’s provisions...

Form 1095 For Health Insurance Coverage Tax Reporting

When organizing your tax documents for 2016 be sure to obtain your copy of Form 1095 and include the information provided when filing the tax return. Form 1095 does not have to be attached to tax returns but the information provided must be reported on the tax return.

Tax Rate Change Effective April 1, 2017

There will be two (2) sales and use tax rate changes effective April 1, 2017.

Driver's License or State Identification Card Required by the Ohio Department of Taxation (ODT)

New this 2016 tax season, in an ongoing effort to better protect taxpayers from identity theft and tax fraud, the Ohio Department of Taxation (ODT) is requiring information from each taxpayers...

Year-End Planning and Tax Changes for 2016

For 2016, there are several tax changes, phase-outs, and updates that will apply to this tax year for business and individual tax filers.

Ohio Small Business Income Tax Deduction

Virtually all businesses are now eligible for a 75% tax deduction on the first $250,000 of business income on 2015 tax returns. The deduction was first effective for income earned in taxable year 2013 and claimed on income tax returns filed in 2014.

Do You Have to Pay Taxes on Social Security Benefits?

It used to be so simple: Social Security benefits were tax-free. Period. But then, as part of a "Save Social Security" plan, Congress decided to tax up to 50% of benefits. Later, lawmakers decided to tax up to 85%, with the extra revenue going to shore up Medicare.

Common IRA Rollover Mistakes

Have you thought about rolling your traditional IRAs from one financial institution to another? Maybe you're looking for higher returns, more investment selections or better service. If you roll over your traditional IRA, there are some common mistakes you must avoid. If you don't, you could face unnecessary taxes and penalties.

IRS Forms 1095-A, 1095-B, and 1095-C: What are they and why are they important to you?

With new regulations come new reporting forms and that is no different with the Obamacare regulations passed in recent years. This year you will receive a 1095-A if you purchased your healthcare from one of the many marketplace insurance providers like healthcare.gov.