General News

Ohio Commercial Activity Tax Sourcing Guidance

Ohio Commercial Activity Tax Sourcing Guidance By Kiersten Gaudet, Brady Ware On September 29, 2020 the Ohio Supreme Court reversed the judgement by the Ohio Board of Tax Appeals and the Ohio Tax Commissioner in Defender Sec. Co. v. McClain, Slip Opinion No. 2020-Ohio-459. It was determined that Ohio receipts were improperly sourced to Ohio…

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Wayne County, Indiana Tax Rate to Decrease

Wayne County, Indiana Tax Rate to Decrease Effective October 1st, 2020, the county income tax rate for Wayne County, Indiana will decrease from 1.5% to 1.25%. This change in tax rate affects businesses who have employees who live or work in Wayne County. For Indiana residents, county withholding is based on the location of their…

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Has Covid-19 Changed the Way You Do Business?

Has Covid-19 Changed The Way You Do Business? You may be eligible for the Research and Experimentation Credit! By Kiersten Gaudet, CPA During a recent interview with former IRS Tax Commissioner Mark Everson, he stressed the importance of taking advantage of any short-term relief that may be available for both businesses and individual taxpayers. The…

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Monitor Overtime Pay for Your Remote Workers

DOL: Employers are Obligated to Monitor Overtime Pay for Remote Workers Department of Labor Guidance Paying your employees for hours that you know they’ve worked is straightforward enough. But what if they’re doing more work than you think they are — or more than you’ve asked them to do? As federal regulations state, “Work not…

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Debt forgiveness in the COVID era…

Debt Forgiveness Tax Implications in the COVID-19 Era In the COVID-19-ravaged economy, debts can pile up beyond a borrower’s ability to repay. Lenders sometimes may be willing to forgive (or cancel) debts that are owed by certain borrowers. While debt forgiveness can help struggling borrowers survive financially, it can sometimes trigger negative tax consequences. Here’s…

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