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Ohio Small Business Deduction Update

Ohio Small Business Deduction Update

Ohio is moving forward in its effort to attract and keep small businesses in Ohio. In this continuing effort, Ohio has recently made permanent the “Small Business Deduction.” Small Business Deduction is available for “pass-through entities’ owners (partnerships,...

Selling rather than trading in business vehicles can save tax

Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be claimed on most cars and light trucks. Thus, when it’s time to replace a vehicle used in business, it’s not unusual for its tax basis to be...

New Health Care Tax Credit Helps Small Employers

The small business health care tax credit, created under the Affordable Care Act, is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. The credit took effect last year and is generally...

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