Senney Says by Jeff Senney Archives - Page 2 of 26

The IRS has released the IRC Section 280F depreciation limits for business passenger automobiles placed in service by the taxpayer in 2018, taking into account the changes made by the recently enacted Tax Cuts and Jobs Act (TCJA). The IRS has also released the annual...

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Helping at the House of Bread

Jan Burden

Christie Back, Firm News, Press Releases, Senney Says by Jeff Senney

Below, Attorneys Jeff Senney and Christie Back help out at the House of Bread. The House of Bread has been a part of Dayton for over 30 years. They were founded with the belief that no one deserves to go hungry. They Prevent hunger by offering a...

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Should You Convert Your S corporation to C corporation ?

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

Articles of Incorporation Should you convert your S Corporation to a C Corporation? Under the recent federal tax act, the highest corporate income tax rate in 2018 will be 21%. That is significantly lower than the highest individual income tax rate of 37%. This significant rate...

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Student Status Expires, What’s Next?

Christie Back

Business, Tax & Real Estate, Christie Back, Immigration Law, Immigration Law, Legal News, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

With graduation season quickly approaching, students are looking to the future. For some, finding a job is the biggest battle they are facing. For others, graduation means the termination of lawful student status in the United States. If you are a student looking for legal...

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Employer’s Liability for FICA Taxes Can be Offset by Self-Employment Tax Paid by Workers

Jeff Senney

Legal News, Legal News for Businesses, Matthew D. Stokely, Senney Says by Jeff Senney, Workers' Compensation and Employment Law

In a recent Chief Counsel Advice (CCA), the IRS concluded that an employer who misclassified employees as independent contractors could offset FICA taxes owed by the employer with self-employment taxes paid by the workers. Where workers are properly classified as employees, the employer is liable for...

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2017 Tax Return Filing Requirement – Complying with Individual Mandate Provisions

Jeff Senney

Legal News for Individuals, Senney Says by Jeff Senney

On the online Affordable Care Act (“ACA”) Information Center for Tax Professionals, the IRS stated that they will not accept electronically filed 2017 tax returns that do not indicate the taxpayer complied with the individual mandate provisions. Returns will not be considered complete and accurate...

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Marriage, Children and Divorce

Matt Sorg

Legal News, Legal News for Individuals, Litigation, Matthew C. Sorg, Senney Says by Jeff Senney

“Women always think men will change, but they don’t. Men think women won’t change, but they do.” Luther, BBCTV, Series 1, Episode 4. Not that we need Hallmark to remind us of the need to express our love for our significant others, the other side of...

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Cadillac Tax Suspended. Again

Jeff Senney

Business, Tax & Real Estate, Legal News, Legal News for Businesses, Legal News for Individuals, Matthew D. Stokely, Senney Says by Jeff Senney, Workers Compensation & Employment, Workers' Compensation and Employment Law

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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ESRP Penalty Failure to Comply with ACA Employer Mandate

Jeff Senney

Business, Tax & Real Estate, Legal News, Legal News for Businesses, Legal News for Individuals, Matthew D. Stokely, Senney Says by Jeff Senney, Workers Compensation & Employment

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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OHIO 2017 AMNESTY PROGRAM

Jeff Senney

Business, Tax & Real Estate, Legal News, Legal News for Individuals, Senney Says by Jeff Senney

The Ohio legislature created an amnesty program for most Ohio taxes which were unreported or underreported, and unpaid, as of May 1, 2017. The amnesty program runs from January 1 through February 15, 2018. If your application for amnesty is approved, you avoid 100% of...

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