A new Ohio law provides a SALT cap workaround and will save some taxpayers tens of thousands in federal tax. On June 14, 2022, Ohio Governor Mike DeWine signed Senate Bill 246 which allows a workaround to the $10,000 state and local tax (SALT) deduction cap imposed by the Tax
Passed as part of the CARES Act at the onset of COVID-19 in the Spring of 2020, the Employee Retention Tax Credit (ERTC) Program, in very simple terms, is a credit for continuing to pay employees during the pandemic if certain tests are met. While the name suggests it’s related
President Biden signed the Infrastructure Innovation and Jobs Act back in November 2021, sunsetting the Employee Retention Tax Credit (ERTC) program one quarter early (with some exceptions for recovery startups). This early “cut-off” eliminated the 4th quarter of 2021 as a qualifying quarter for the credit – but it
With the signing of the Infrastructure Innovation and Jobs Act by President Biden on November 15th, an additional $500 billion is expected to be invested in “hard” infrastructure projects over the next five years. One of the tax offsets to help pay for the project was closing the
Sales growth is exciting. And expanding into new markets can be great for your bottom line, but it can also cause sales tax compliance issues. E-commerce has exploded over the past 18 months in the wake of the global pandemic – which means many more companies are selling in many
The Consolidated Appropriations Act (CAA), which passed in late December 2020, removed the CARES Act clause that disallowed PPP borrowers from claiming the Employee Retention Credit (ERC). This change has opened the floodgates and allowed struggling businesses to retroactively claim the ERC, which they had not previously been eligible for.