Tax

Ohio 2021 Sales Tax Holiday

The state of Ohio will have its annual, back-to-school sales tax holiday from Friday, August 6th, 2021 at 12:00am until Sunday, August 8th, 2021 at 11:59 pm. The sales tax exemption includes online orders placed, and accepted by the retailer, during this window of time. But note, for online sales, the seller’s location determines the […]

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The deductibility of corporate expenses covered by officers or shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue is more likely to arise in connection with a financially troubled corporation. Deductible vs. non-deductible […]

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How start-up expenses are handled on your tax return

Entrepreneurs often don’t know that many of the start-up expenses incurred can’t be currently deducted. You should be aware that the way you handle some of your initial expenses can make a large difference in your federal tax bill. Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new […]

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