Brady Ware News

COVID-19: New Law Relaxes the Limit on Business Interest Deductions

COVID-19: New Law Relaxes the Limit on Business Interest Deductions The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides roughly $2 trillion of much-needed financial relief, including tax relief, to individuals and businesses. This relief is in response to the coronavirus (COVID-19) pandemic. One CARES Act provision temporarily relaxes the Tax Cuts and Jobs…

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5 Ideas for Reskilling Your Manufacturing Workforce

5 Ideas for Reskilling Your Manufacturing Workforce The COVID-19 crisis has probably changed your business operations. For example, in response to the crisis, you might need to alter your company’s production line, cleaning and scheduling practices, supply chain partners, distribution methods and even product offerings. Whether these changes are temporary or you’re using recent product…

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Ohio State and Local Tax Updates September 2020

Ohio taxpayers can now respond electronically to OH Dept. of Taxation (DOT) notices The notices could pertain to individual and school district income tax as well as business and excise tax. Using the service, taxpayers also may reply to the DOT’s request for additional information, file an appeal or submit eligible forms. The new service…

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Georgia State and Local Tax Updates September 2020

Georgia issues ruling on sales tax application relating to solar power manufacturing equipment The Georgia Dept. of Revenue has issued a letter ruling on the sales tax application on solar power manufacturing equipment. The taxpayer purchases equipment from Georgia manufacturers and vendors outside the state, which is then transported to Georgia. The sale, use or…

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Michigan State and Local Tax Updates September 2020

No Michigan education foundations certified for tax year 2020 No education foundations were certified for the tax year 2020 Michigan Business Tax credit. Qualifying business taxpayers who elect to file returns under the Michigan Business Tax Act are eligible to take a credit for contributions made to endowment funds held by the education foundation. However,…

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