In 2020, a year when all income brackets benefited from… Read more »
Converting a Traditional IRA into a Roth IRA
Category: Tax
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).
7 Frequently Asked Questions about Revenue Recognition
Guide Contents: When is the new standard effective? What does… Read more »
Section 199A Rental Real Estate Activity Safe Harbor
The taxation of passthrough income was among the many areas… Read more »
Section 1031 Like-Kind Exchanges under the TCJA
The TCJA didn’t eliminate like-kind exchanges; however, it did eliminate tax-deferred like-kind exchange treatment for exchanges of personal property after December 31, 2017.