Topics: Business Tax
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Important IRS Payment Changes for the 2026 Tax Year
The IRS will no longer issue or accept paper checks for federal tax payments starting January 2026. This change is intended to increase efficiency,…
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IRS Layoffs and How it Impacts Taxpayers
The Trump Administration has directed the Internal Revenue Service to draft plans to cut its workforce by as much as half through a mix…
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Impacts of the presidential election on M&A
Impacts of the presidential election on M&A There are many uncertainties when it comes to the future of the economy when a new presidential…
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Pass-Through Entity Taxes & Reporting Under GAAP
Pass-Through Entity Taxes & Reporting Under GAAP 5/21/24 Introduction In connection with changes to the Internal Revenue Code as a result of the Tax…
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Ohio Pass-Through Entity Tax
Starting in 2022, many states came out with a Pass-Through Entity Tax. A pass-through entity tax is an entity-level income tax that partnerships, S…
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Stock or Asset Purchase: Which is Right for You?
When determining the type of transaction, factors such as tax implications and potential liabilities are the foremost considerations. An asset sale involves acquiring specific…
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Can I Deduct Tax Loss?
When individual taxpayers have losses from flow through entities, the key question is whether or not the individual will have the ability to deduct…
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OHIO COMMERCIAL ACTIVITY TAX – FORGOTTEN CREDITS
The CAT is an annual tax imposed on the privilege of doing business in Ohio, measured by taxable gross receipts from most business activities.…
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Tax Planning Alert: Having too Many Losses will Hurt You
The 2017 Tax Cuts and Jobs Act made several very significant changes. One of the strangest is that a taxpayer can deduct no more…
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TO C OR NOT TO C – SHOULD YOU BE A C-CORPORATION?
This issue of Tax Talk provides you with a quick reference chart on whether you should be a C-corporation based upon the Tax Cuts…