Business, Tax & Real Estate

Under the Affordable Care Act, a 40% excise tax, often referred to as a “Cadillac tax”, was originally scheduled to apply for tax years beginning after 2017.   This Cadillac tax was to be levied on the “excess benefit” provided to an employee by an employer-sponsored...

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One of my clients recently contacted my office and advised that his Company had received a Notice from IRS regarding calculation of the Employer Shared Responsibility Payment (ESRP).  According to the letter, the IRS had determined that the Company was an Applicable Large Employer (as...

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Legislation to clarify and correct the small business deduction on a retroactive basis is getting close to becoming law.  HB 334 was amended into SB 8 (which contains many other items) which was passed unanimously by the Senate Ways & Means Committee yesterday.   The bill then...

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The Ohio Department of Taxation (ODT) recently announced a limited-time tax amnesty program beginning January 1, 2018 and ending February 15.  This tax amnesty program is available to individuals and businesses with unreported or underreported tax debts.  Under the amnesty program, taxpayers who pay qualifying tax...

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The Ohio Senate passed Small Business Deduction legislation (SB 186) 30-2.  This legislation is intended to clarify, retroactive to 2013, that small business owners who engage a professional employer organization to handle their payroll  receive the same tax incentive as those small business owners who do not. HB...

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