David Reape CPA

Posted in: Articles, Tax

What to do if your business receives a “no-match” letter

In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are given to employees and filed with the IRS. Specifically, they […]

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David Reape CPA

Posted in: Articles, Tax

The IRS is targeting business transactions in bitcoin and other virtual currencies

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that it is targeting virtual currency users in a new “educational letter” campaign. The nuts and […]

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David Reape CPA

Posted in: Articles, Tax

Substantial Nexus and Marketplace Facilitator Changes

The Ohio General Assembly recently passed Am. Sub. H.B. 166, the biennial budget bill, which contains new substantial nexus provisions as well as “marketplace facilitator” statutes. Those statutory changes take effect on August 1, 2019. This alert is to advise taxpayers of the sales and use tax substantial nexus changes made in that legislation. The […]

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Posted in: Tax, Tax Tips

Ohio Tax Holiday

The end of summer is quickly approaching, which means its time back to school shopping. For the fifth year, the state of Ohio will be offering a tax holiday. This year the tax holiday will take place starting Friday, Aug. 2, 2019, at 12 a.m., and go through Sunday, Aug. 4, 2019, at 11:59 p.m. […]

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David Reape CPA

Posted in: Articles, Tax, Tax Tips

Good tax planning includes good record keeping

Tax planning should happen all year long, not just when someone is filing their tax return. A vital part of tax planning is record keeping. Well-organized records make it easier for a taxpayer to prepare their tax return. It can also help provide answers if a taxpayer’s return is selected for examination or if the […]

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