Tax | Rea CPA
Author
Oct 10, 2024
Article

Navigating the Tax Maze: Why Not-For-Profits Need to Think Like For-Profits

As a not-for-profit leader, you're passionate about your mission. You're changing lives, improving communities, and making the world a better place. But here's a curveball you might not have seen coming - when it comes to taxes, your not-for-profit might have more in common with for-profit businesses than you think. 
Author
Jun 14, 2024
Article

The Hidden Cost of Doing Business in Multiple States: A Tax Perspective

As a business owner, expanding your operations into new states can be an exciting prospect. However, with growth comes new responsibilities, including the obligation to file taxes in those states. Unfortunately, not all businesses are aware of the potential pitfalls and risks associated with state and local taxes, leaving them vulnerable to scams and costly mistakes.
Author
Mar 7, 2024
Article

The Future of QuickBooks: Getting Ahead of the Change

As of July 31, 2024, new subscribers can choose between QuickBooks Online (QBO) and QuickBooks Enterprise. Existing subscribers will still be able to renew their QuickBooks Desktop Pro and Premier subscriptions, but these options are no longer available to new subscribers. The biggest impact will be for new businesses or QuickBooks Desktop users without an active subscription. For several years, Intuit has poured its resources into enhancing QuickBooks Online, to make it more robust and user-friendly while adding new features. 
Author
Sep 15, 2023
Article

Ohio Tax Updates: New Software – What You Need to Know

Ohio Tax is embarking on a significant transformation of its internal software and taxpayer portal. It promises to bring a more user-friendly and modern experience to taxpayers and practitioners alike. This new system is live as of early September.
Author
Aug 17, 2023
Article

Protect Your Business: Recognizing Employee Retention Credit Scams and Fraud

As a responsible business owner, you know the significance of Employee Retention Credits (ERC) provided by the IRS to help businesses retain their workforce during challenging times. However, with the benefits of ERC comes the risk of scams and fraud targeting unsuspecting employers. Being vigilant and well-informed can shield your business from falling victim to fraudulent schemes. We will walk you through the signs of ERC scams and how to safeguard your business against potential threats.
Author
Dec 9, 2022
Article

End 2022 on a High Note: Financial Planning for Small Businesses

As we wrap up 2022, it’s important to take a closer look at your tax and financial plans and discuss steps that can be taken to reduce taxes and help you save for your future.
Author
Sep 15, 2023
Blog

Understanding the Corporate Transparency Act and How It Can Impact Your Business

The Corporate Transparency Act (CTA) is a federal law aimed at protecting national security and helping prevent money laundering through shell and front companies. When entities are created through the State, their beneficial owners’ information (BOI) is not collected. The CTA will require the reporting of this information to FinCEN starting Jan. 1, 2024. 
Author
Sep 11, 2023
Blog

Powering Your Wallet: Understanding the Clean Energy Tax Breaks in the Inflation Reduction Act

The Inflation Reduction Act of 2022 provides numerous tax credits for clean energy initiatives. While too voluminous to list each credit and requirement, below are some programs that may benefit taxpayers who are interested in clean energy.
Author
Jun 20, 2023
Blog

Navigating Sales Tax Challenges in Construction Projects 

Construction contractors are the unsung heroes of our cities and towns, building the homes we live in, the offices we work in, and the roads we travel on.
Author
Jul 24, 2024
Events

NOT Your Old-School Tax Holiday: We’ve Graduated to Everything

Join our State and Local Tax (SALT) team for an informal Q&A session on Ohio's upcoming tax-free holiday. Register Now!