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Financial and Tax Planning Resources

Beneficial Ownership Information Reporting Thumbnail

Beneficial Ownership Information Reporting

Starting in 2024, newly formed corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) providing specified information regarding the entity’s “beneficial owners.”

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Flexible Spending Accounts Thumbnail

Flexible Spending Accounts

Are you eligible for Flexible Spending Accounts through work? The two most popular plans are for health care costs and for dependent care costs. Learn about how much you could save in taxes by taking advantage of these plans!

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Are Employer-Provided Fringe Benefits Taxable? Thumbnail

Are Employer-Provided Fringe Benefits Taxable?

Small business owners and employees often wonder about the federal tax treatment for employer-provided fringe benefits. Are they taxable? Do they have to be added to payroll or the employee’s Form W-2? It depends on the nature of the fringe benefit and if the benefit is defined as having a tax-favored status within the Internal Revenue Code.

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Understanding Ohio’s Pass-Through Entity Tax Thumbnail

Understanding Ohio’s Pass-Through Entity Tax

The Tax Cuts and Jobs Act of 2017 imposed a $10,000 cap on the deduction of state and local taxes (SALT) for individuals who itemize their deductions. Over the years, many states have adopted a SALT Cap workaround and after the signing of Senate Bill 246 into law, Ohio now allows pass-through entities (PTEs) to elect to be taxed at the entity level starting with the 2022 tax year.

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