Whether you’re looking to reduce tax, shift income, or fund education, it’s important to understand the changes that the Kiddie Tax law underwent with TCJA.
The Kiddie Tax Under TCJA
Category: Tax
Pros and Cons of 529 College Savings Plans
This article covers the pros and cons of 529 college savings plans which are education savings plans operated by a state designed to help fund education.
Understanding Tax-Related Identity Theft and Refund Fraud
Tax-related identity theft and refund fraud may be avoided with increased awareness and actions that complement IRS security. Learn more.
Converting a Traditional IRA into a Roth IRA
In 2020, a year when all income brackets benefited from… Read more »
Preparing to be an Executor
The role of an executor can be extremely time consuming and stressful. However, there are steps that can be taken now, while your friend or loved one is still living, that can reduce the stress and complications that come with the job. This article covers 9 steps.
Estate Planning – It’s a Matter of Trust
Early estate planning is one way to ensure that as you age, your assets will be protected and managed with your best interests in mind. One common method is the creation of a revocable living trust (“living trust”).
Section 199A Deduction for Pass-Through Businesses
The Tax Cuts and Jobs Act (TCJA) was passed on… Read more »
Meals and Entertainment Deductions — Changes in IRC § 274
LBMC’s tax team has put together this reference chart as a tool to help you navigate the changes to the meals and entertainment deduction.
A Reverse Audit Could Save Your Company Thousands
If you underpay your sales and use taxes, the Department of Revenue will find the error and collect. But, when you’ve overpaid, a reverse audit may be the only way to catch the error.
Ohio Commercial Activity Tax (CAT) Audits
Ohio has an aggressive audit program to seek companies doing business in the state. Here’s what you need to know about the Ohio Commercial Activity Tax (CAT).