News Update - Nov. 30, 2016
New overtime rules put on hold
December 1st was to be the day that the new overtime rules were to take effect.
Other year end ideas to save on taxes
Based upon the Trump proposals during his campaign, tax rates in 2017 should go down.
TIME TO SAVE
It's time for year-end tax planning.
The easiest way to reduce income taxes if you need equipment and/or vehicles, is to utilize the generous depreciation rules.
WHAT DOES THE TRUMP PRESIDENCY MEAN TO TAXES?
Based upon the proposals made by Trump during the campaign, we can look forward to:
Concerning Personal Taxes
A simplification and lowering of tax rates to 12%, 25%, and 33%.
NOVEMBER TAX TIPS
The latest E-MAIL SCAM: Be aware of fraudulent emails containing false CP2000 tax bills. The fake bills claim taxes are owed under the Affordable Care Act. The IRS does NOT initiate contact with taxpayers via e-mail or any social media. If you receive such an email, do NOT open the attachment.
Due to Ohio revised code changes, estimated quarterly tax payments for Ohio Cities are now due as follows:
6/15 (changed from 7/31)
9/15 (changed from 10/31)
12/15 (changed from 1/31)