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Tax Implications of ASC 842 Leases Implementation
After being delayed for numerous years, private companies are required to adopt and implement ASC 842 Leases starting in 2022 (if not already implemented). The good news is that although […]
Year End Tax Strategies For Restaurants
Not only is the end of the year reserved for holidays and quality time with family and friends, but it is also the time of year for year-end tax planning. […]
WOTC: A Beneficial Tax Credit for Businesses and Restaurants
Over the past two years, the Employee Retention Credit (ERC) has dominated the headlines in terms of federal tax credits, in particular for the restaurant industry. Now it’s time to […]
State Of Ohio Releases Initial Guidance On Elective Pass-Through Entity Tax
On Friday, August 5th, the Ohio Department of Taxation (ODT) released initial guidance on Ohio’s new elective pass-through entity (PTE) tax. As we reported in June, Ohio Governor Mike DeWine […]
IRS Updates Mileage Rates For The Remainder Of 2022
On June 9, 2022, the IRS announced an increase in its mileage rates for the final six months of 2022. Beginning July 1, 2022, the standard mileage rate for business […]
2021 Filing Season: 3 Tips For Taxpayers
Turning the calendar to 2022 doesn’t only mean a fresh start, it also means looking back to 2021 and preparing to file your tax returns. While not a highly anticipated […]