Tax

Aug 9, 2024, 00:00 AM by Jessica Salerno Shumaker

State tax collections reached $2.1 billion in July, the first month of FY25, according to preliminary figures released Thursday by the Office of Budget and Management.

Aug 9, 2024, 00:00 AM by Jessica Salerno Shumaker

his group will provide feedback and participate in testing. On-site system testing is planned for the last few weeks of September, with multiple dates and times available.

Aug 2, 2024, 00:00 AM by Jessica Salerno Shumaker

August 1st is already in the rearview mirror, and members may not have noticed any changes when utilizing their OH/ID logins for the Ohio Business Gateway.

Aug 2, 2024, 00:00 AM by Jessica Salerno Shumaker

The proposed amendment says the state or local governments "shall not have the right or power to increase the taxable property value on any citizen's private property or properties," without the private property owner's agreement or consent.

Jul 26, 2024, 00:00 AM by Jessica Salerno Shumaker

Ohio will have an expanded sales tax holiday from 12 a.m. Tuesday, July 30 through 11:59 p.m. Thursday, Aug. 8.

Jul 25, 2024, 00:00 AM by Jessica Salerno Shumaker

Real estate investors and CPAs should understand the benefits of cost segregation studies to leverage IRS guidelines and maximize depreciation deductions.

Jul 19, 2024, 00:00 AM by Jessica Salerno Shumaker

While Mr. B teaches kids their ABCs, this week he’s bringing updates on Beneficial Ownership Information and the Ohio Bureau of Workers’ Compensation.

Jul 19, 2024, 00:00 AM by Jessica Salerno Shumaker

Ohio was recently ranked fifth-highest among states for taxpayer return on investment by personal finance site WalletHub, leading all neighboring states.

Jul 17, 2024, 00:00 AM by Jessica Salerno Shumaker

Last summer, the Ohio Department of Taxation launched Project NextGEN to replace the current systems that administer Ohio’s individual and school district income taxes. The new system is scheduled to go-live on Sept. 5, 2023, and will provide a “banking experience” for taxpayers and tax professionals.

Jul 12, 2024, 00:00 AM by Jessica Salerno Shumaker

Despite lagging tax revenues, investment earnings and underspending helped Ohio end the fiscal year with a $1.1 billion balance.

Jun 21, 2024, 02:00 AM by Natalie Rooney

The Ohio Department of Taxation has proposed several rules for the administration of the adult use cannabis tax.

Jun 21, 2024, 02:00 AM by Natalie Rooney

The Ohio Department of Development (DOD) recently announced the release of the program application for the July 2024 round of the Ohio Opportunity Zones Tax Credit.

Feb 14, 2024, 15:46 PM by Suzanne McCann-Perry

The Ohio Supreme Court today issued a 5-2 decision in the Schaad v. Alder case, Slip Opinion No. 2024-Ohio-525, effectively denying impacted Ohio taxpayers from seeking a refund of municipal income tax paid to a municipality where they neither work nor live.

May 26, 2023, 11:54 AM by Suzanne McCann-Perry

Senators Sherrod Brown, D-Ohio, and Bill Cassidy, R-Louisiana, are proposing to raise the reporting threshold on transactions from companies such as Airbnb, eBay, Etsy, PayPal and Venmo from $600 to $10,000 to save headaches for small businesses and individuals who work in the gig economy.

May 26, 2023, 11:53 AM by Suzanne McCann-Perry

A number of OSCPA legislative priorities continue to move through the Ohio legislature, including House Bill 105—a measure that would limit notices and late filing penalties under R.C. 718.27.

Dec 11, 2022, 11:00 AM by SEO National

With new and more efficient technologies simplifying the accounting process, tax duties are shifting to a proactive instead of reactive approach with clients.

Dec 2, 2022, 13:53 PM by Jessica Salerno Shumaker

Attend the Summary and Analysis of the Inflation Reduction Act of 2022 on Sept. 26 to learn more.

Aug 11, 2022, 12:28 PM by Sonya Guthrie

Cybersecurity is essential for everyone, but it’s also unique to the individual, said one security expert. “One of the areas of confusion for cybersecurity is that it’s one size fits all,” said Jake Nix, founder & CEO of RISCPoint at the Aug. 4 OSCPA Town Hall. “And realistically, cybersecurity means different things to different organizations.”

Jul 29, 2022, 10:39 AM by Suzanne McCann-Perry

Democrats may be shocked by the last-minute tax deal announced by Sen. Joe Manchin and Majority Leader Chuck Schumer, but it is nevertheless a far cry from the sprawling slate of tax increases they had once hoped to approve.

Jul 29, 2022, 10:35 AM by Suzanne McCann-Perry

OSCPA plans to file an amicus brief on Aug. 15 to support taxpayers in their efforts to obtain 2020 refunds based on the Society's position that taxing persons who neither work nor live in a jurisdiction is unconstitutional.