Blog
Three Ways Professional Tax Services Can Help Your Small Business
September 1st, 2020
Completing your business taxes is a year-round endeavor for small business owners. Small business tax services can help ease the burden in many situations. The first two ways professional tax services can help your small business go hand-in-hand, bec…
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What is Your Tax Rate and Why Does it Matter?
August 25th, 2020
We have a progressive tax rate in the United States. Basically, this means you are not taxed the same rate on all your income. The tax rate progresses (increases) as your income increases. Although complicated, this makes it a fairer and more just ou…
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Will Coronavirus Delay Your State of Ohio Tax Refund?
August 14th, 2020
The Coronavirus may delay your Ohio State tax refund. The pandemic brought many businesses to a halt, as they reassessed the best way to protect their employees and customers. The Ohio Department of Taxation is no different. In response to Coronaviru…
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The Home Office Deduction [a detailed review]
July 6th, 2020
If you use part of your home for your business, you may qualify to deduct the expenses incurred for the business use of your home, including a home office. This deduction is for business owners regardless of whether they rent or own their home. If yo…
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Save on Your Taxes with a Health Savings Account (HSA) [FAQ]
May 8th, 2020
Health Savings Account (HSA), a tax-advantage savings plan for medical expenses, provides a great way to save on taxes. It is possible to use pre-tax dollars for your original contributions, have gains grow tax-deferred, and make withdrawals tax-free…
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Stimulus Payment: Who is Eligible for this Tax-Free Check?
April 17th, 2020
The IRS expects to start distributing the stimulus payment checks to eligible low to middle-income Americans in the next three weeks. Millions of Americans have started receiving their stimulus payments this week. The stimulus checks will be distribu…
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Coronavirus (COVID-19) Stimulus Payment: What You Need to Know [FAQ]
April 3rd, 2020
Last week, Congress passed the largest recovery package in US history. The President signed into law the Coronavirus Aid, Relief and Economic Security Act (or CARES Act) on March 27, 2020. The CARES Act promises coronavirus stimulus payments of $1,20…
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New Tax Form for Seniors - the 1040-SR
March 24th, 2020
Tax time can be, well, quite taxing. Deciding which forms you need to complete can be a nightmare for many taxpayers. Just when you think you have it all figured out, the IRS releases new tax forms to match the recently changed tax laws and changes e…
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SEP IRA vs. Solo 401(k): Which One is Right for Your Business?
March 9th, 2020
Do you own a small business and are considering starting a retirement plan for your employees and yourself? Are you not sure about which one is right for your business? Both an SEP IRA and solo 401(k) are retirement accounts that allow you as the bus…
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SIMPLE IRAs vs. SEP IRAs: What is the Difference?
February 24th, 2020
The primary difference between a SIMPLE IRA and a SEP-IRA are who is allowed to fund the retirement accounts and the contribution limits. Both a SIMPLE IRA and a SEP-IRA are tax-deferred individual retirement accounts offered primarily by small busin…
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