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Hobby or Business? Significant Tax Implications of Both
Who knew you had a green thumb? You started gardening as a way to de-stress. Now, you’re growing exotic orchids in your family room. It was a pricey hobby until you learned how to propagate orchids and...
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Tax Implications of Marriage
Thus far, the summer of 2015 has had its moments of sunshine but have you noticed all the…… WEDDINGS? I bet you thought I was going to say rain. This is generally the time of year when couples decide...
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Ohio Municipal Income Tax Law Changes On the Horizon!
Over the years, the Ohio Society of CPAs (OSCPA) has voiced its concerns about the Ohio municipal tax system. It is overly burdensome for taxpayers and the OSCPA is calling for change. At the of 2014,...
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Potential Tax Consequences of Financial Aid
With the cost of attending college constantly on the rise, financial aid has quickly ascended to the top of the priority list for students and parents alike. Aid in the form of scholarships and grants...
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Ex-Dividend Dates Can Hurt You When Buying Mutual Funds
Looking to buy mutual funds? Well, over the next few months you will want to be careful when purchasing funds or you could end up paying extra tax on your shares. When you receive certain distributions...
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Non-Profit Organizations: Taxation
Every year tax-exempt, nonprofit organizations have to file a tax return. Why would they have to file if they are tax exempt? It is merely an informational tax return. This is a way for the IRS to...
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QuickBooks Year-End Planning & Tips
QuickBooks is a reliable and popular program used by many small businesses to fulfill their accounting needs. There are numerous features many users are unaware of because accounting isn’t their only...
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The Flip Side of Low Gas Prices
The good news: gas prices, following a drop in the price of oil, have steadily declined over the last several months. In many places, gas is now well below $2.00 per gallon. No doubt, we all enjoy some...
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Are Social Security Benefits Taxable?
It depends. If your income exceeds certain tax law thresholds, a portion of your Social Security retirement benefits will be subject to federal income taxes. The Thresholds The IRS uses your...
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Looking to Sell?
Are you looking to sell your business? Maybe you’re considering retirement, in poor health, or just ready to cash in. Whatever your reason, you should be aware of the complexity of your venture, as...
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