Important Changes for Taxpayers Making Federal Estimated Tax Payments The IRS recently announced that it changed the mailing address where taxpayers in certain states should mail their quarterly estimated tax payments. Effective for 3rd quarter federal estimated payments due by Monday September 15th, taxpayers that are residents of the state of Ohio should mail their…
Some significant new tax legislation (the Act) signed into law on July 4, 2025 (informally known as One Big Beautiful Bill or OBBB). The Act is comprehensive and includes key changes to individual and business-related provisions and incentives. Navigating these changes will be complex but understanding them is essential for effective tax planning and optimizing…
Ohio’s annual Sales Tax Holiday returns this year—bigger and longer than ever. From August 1 through August 14, 2025, shoppers across Ohio can enjoy two full weeks of tax-free shopping on most items under $500. What’s Tax-Free? During the holiday, tangible personal property priced at $500 or less per item is exempt from sales tax.…
For decades, the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) reduced Social Security benefits for millions of public sector employees, who worked in jobs not covered by Social Security. These provisions have long been criticized as unfair and overly broad, and after years of debate, recent legislation finally repealed them. What Were the…
A Taxing Story: Capital Gains and Losses Chris Rock once remarked, “You don’t pay taxes – they take taxes.” That applies not only to income but also to capital gains. Capital gains result when an individual sells an investment for an amount greater than their purchase price. Capital gains are categorized as short-term gains (a…