Are Business Loan Payments Tax Deductible? What You Can and Can’t Write Off If you’re running a small business and have taken out a loan to fund operations, expansion, or equipment, you may be wondering: Are business loan payments tax deductible? The answer is a bit nuanced. While the principal portion of your loan payments […]
Are Business Loan Payments Tax Deductible? What You Can and Can’t Write Off Read More »
Tax Benefits of Leasing a Car vs Buying a Car for Your Business When it comes to acquiring a vehicle for your business, one of the most important questions is: Should I lease or buy—and which option offers better tax benefits? The answer depends on how you plan to use the vehicle, your cash flow,
Tax Benefits of Leasing a Car vs Buying a Car for Your Business Read More »
Will I Get a Tax Refund If My Business Loses Money? If your business didn’t turn a profit this year, you’re not alone—and you’re definitely not out of options. One of the first questions we get from small business owner CPA clients in this position is:“If my business loses money, can I still get a tax
Will I Get a Tax Refund If My Business Loses Money? Read More »
What’s the Difference Between Payroll Tax and Income Tax? If you’ve ever looked at your paycheck (or handled payroll as a business owner), you’ve probably seen deductions for both payroll tax and income tax. At first glance, they might seem like the same thing—but they’re actually two very different parts of the tax system. Understanding
What’s the Difference Between Payroll Tax and Income Tax? Read More »
Does Ohio Tax Retirement or Pension Income in 2025? If you’re planning for retirement, you may be thinking about Ohio and if it taxes retirement or pension income. The answer isn’t a simple yes or no. While some retirement income is taxed in Ohio, the state offers tax breaks for certain types of income, including
Does Ohio Tax Retirement or Pension Income? Read More »
Does Ohio Have an Inheritance Tax? Even though Ohio doesn’t have an inheritance tax, there are still ways to reduce potential tax burdens on an inherited estate with proper tax planning for estates: does Ohio have an inheritance tax? The short answer is no—Ohio does not impose an inheritance tax. That’s one less thing to
Does Ohio Have an Inheritance Tax? Read More »
What Percentage Does a Small Business Pay in Taxes? The percentage a small business pays in taxes varies widely but often falls between 20% and 30% of its net income. The exact tax rate depends on factors like business structure, location, and revenue. Owning a small business comes with its share of responsibilities—and taxes are
What Percentage Does a Small Business Pay in Taxes Read More »
What Is a Principal Business Code for Taxes? For business owners, accurately completing tax forms is essential to staying in compliance with the IRS. One piece of information the IRS often requires is a “Principal Business Code” (PBC). While this code may seem like just another number, it plays a significant role in defining your
What is a Principal Business Code for Taxes Read More »
Real estate is an attractive path to financial freedom, but for beginners, the tax landscape can be tricky. Even minor missteps can turn profitable opportunities into costly ones, shrinking your returns and exposing you to unexpected liabilities. Here’s how to sidestep common tax mistakes new real estate investors often make, so you can make the
How New Real Estate Investors Can Avoid Costly Mistakes Read More »
If you’re buying or selling property, transfer taxes are probably one of those costs that don’t cross your mind until you’re knee-deep in paperwork. But knowing what these taxes are—and who typically pays them—can help you budget smartly and avoid any last-minute surprises. Here’s what Ohio buyers and sellers need to know about transfer taxes
What Are Transfer Taxes In Real Estate? Read More »
