Thinking

During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your…

Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You might be eligible for a tax break for the cost. The value of a credit Day camp is a qualified expense under the child and dependent care credit,…

Article written by: Nicole DeLoye, CPA Tax Staff When the Tax Cuts and Jobs Act (TCJA) was enacted toward the end of 2017, there were many unknowns. Not only for individuals and businesses but for nonprofits as well. One concern was that of charitable donations given by individuals. The TJCA raised the standard deduction to…

Essential Questions - Ohio Opportunity Zones How long will QOZ designations remain in effect? Specific census tracts in distressed communities that were granted QOZ designation will retain their QOZ status until December 31, 2028. QOZ investments in these areas are valid through December 31, 2047.   How can one invest in a QOZ? To receive…

Article written by: Joe Borowski, CFA Director, Valuation & Financial Opinion Services   An Employee Stock Ownership Plan, or “ESOP”, is a qualified retirement plan, similar to a 401(k), which allows the employees of a company to become owners of the stock of their employer, while at the same time providing an attractive business succession…