The Research and Development Tax Credit, formally known as the Credit for Increasing Research Activities under Section 41 of the Internal Revenue Code, has been in existence for many years to encourage companies to conduct research and development for further...
Ohio provides for property tax exemptions for real property held by 501(c)(3) non-profit organizations. However, the exemption is not automatic. The exemption generally applies to real property owned by a qualifying 501(c)(3) non-profit business, provided that there...
On Feb. 28, 2023, the U.S. Supreme Court decided Bittner v. United States, holding that non-willful violations of the Bank Secrecy Act (BSA) should be handled per annual report, not per bank account, a ruling that saved the taxpayer in this case millions in fines....
As of today, no one has successfully picked the right numbers to win the current Mega Millions jackpot. Based on current projections, it is scheduled to reach $1.35 billion by the drawing on Friday, Jan. 13, 2023. This is the second-largest Mega Millions drawing and...
January 1 marks the start of the new year and with a new year comes new tax law changes. If you’re an Ohio State Buckeyes fan, your New Year did not begin exactly how you wanted to, but the year looks bright going forward. As we begin the new year, it is important to...
Fraudulent ERC Claims If you have been listening to talk radio lately, you've most likely heard the latest come-on for small business cash assistance. Most of these advertisements claim your small business can receive up to $28,000 per employee per year in refunds of...
Recent turbulence in various market sectors is creating the need to sharpen analyses and understandings of property tax assessment valuations. In evaluating the need for real property tax assessment appeals, it is critical to understand the roles an appraiser can play...
Now is the time of year when counties are publishing, mailing or providing notices of property assessments as required by Ohio law. Ohio Revised Code 5715.17 provides that counties must give notice that valuation revisions have been completed and are open for public...
On Wednesday evening, Senators Joe Manchin and Majority Leader Chuck Schumer announced that they had reached an agreement on a bill imposing a 15% minimum tax on certain large corporations, providing clean energy tax subsidies, incentives for consumers to conserve...
Last month, Governor Mike DeWine signed Senate Bill 246, authorizing Ohio pass-through entities (PTE), including S corporations, partnerships and limited liability companies taxed for federal income tax purposes as partnerships, to elect to pay a PTE level tax as a...