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Potential Kentucky tax changes on the horizon

Kentucky Governor Steve Beshear recently unveiled his legislative plan for tax reform intended to strengthen the state’s ability to create jobs, expand existing industry, and ensure a healthier...

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Qualified low- to moderate-income taxpayers benefit from saver’s credit

It’s not too late to take advantage of the retirement savings contributions credit (saver’s credit) for 2013. This maximum tax credit available is up to $1,000 ($2,000 if married filing jointly) and...

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Tax credits for holiday shopping

As we enter the holiday shopping season, stores are competing more than ever with Black Friday deals and doorbuster sales. To take full advantage of these savings, keep in mind potential tax credits...

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Premium tax credit for health care exchange insurance

With the recent Oct. 1 opening of the health care exchanges, many taxpayers are raising questions regarding the premium tax credit available for those purchasing coverage through the exchanges. This...

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The clock is ticking: hire eligible workers soon to qualify for tax credits!

Although employers have until Dec. 31, 2013 to hire certain workers and benefit from the Work Opportunity Tax Credit (WOTC), the process of certifying these workers takes time – so employers beware....

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Tax credit for summer camp expenses

Don’t forget that there are still opportunities to reap the benefits of the child care tax credit even though your children are out of school on hiatus during summer vacation. The cost of sending your...

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Nonprofit update on health care tax credit

The Small Business Health Care Tax Credit is one of the few refundable tax credits currently available to nonprofit organizations. Beginning with tax year 2010 and through 2013, certain small exempt...

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Work Opportunity Tax Credit transitional deadline approaching

The American Taxpayer Relief Act of 2012 extended the Work Opportunity Tax Credit (WOTC) for certain classifications of workers through Dec. 31, 2013. In March 2013, the IRS issued guidance allowing...

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Small businesses benefit from health care tax credit

The federal government is providing incentives for small business to provide health care coverage for employees. A federal tax credit is available for up to 35 percent of eligible employer-paid health...

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Education tax credits provide various savings opportunities

Although education credits can help taxpayers to reduce their tax liability, it is important to understand that certain requirements and phase-outs apply in order to maximize tax benefits. Education...

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“Ed and Doug’s tax tips”

Recently, two SS&G tax professionals shared their top 10 list of tax tips with Betty Lin-Fisher, Akron Beacon Journal columnist. Doug Klein, CPA, MA, an associate director of tax, and Ed Decker,...

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SS&G Web Tax Guide

Uncertainty about tax laws going into 2013 makes planning especially challenging this year. Regular tax rates are scheduled to rise in 2013, but current rates might be extended for some or all...

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Ohio homestead exemption

Are you 65 years of age or older? Do you own and occupy your principal residence? If you answered “yes” to both of these questions, then you may be eligible for the Ohio homestead exemption. What is...

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The Federal Unemployment Tax Act: credit reduction or tax increase?

Confused by the Federal Unemployment Tax Act (FUTA)? Learn more by checking out the recent blog entry posted in Crain’s Cleveland Business. The author, Robert Gialamas, FPC, is the president of Paytime...

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InvestOhio tax program changes effective Sept. 28

The clock is ticking! Remember that recent changes to the InvestOhio tax credit program are effective Sept. 28 and will impact applications filed thereafter. Click this link for information about the...

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InvestOhio revamped

Important changes have been made to the InvestOhio tax credit program as a result of Amended Substitute Senate Bill 314, adopted earlier this year and signed into law by Gov. John Kasich. According to...

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Uncertainties of individual tax planning

Many taxpayers face uncertainty with their tax planning for 2012 and beyond, given that some tax benefits are set to expire or become less advantageous. Note the following: Individual marginal tax...

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Illinois Small Business Job Creation Tax Credit expanded

This tax credit has been extended and expanded to help small businesses create new jobs and improve economic growth in Illinois. For small businesses with 50 or less full-time employees on July 1, 2012...

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