Jennifer Rockman-Smith

CAT Changes in 2024

Ohio House Bill 33 recently enacted a major change in Commercial Activity Tax where nearly 90% of all Ohio-based businesses will no longer have to pay CAT, as the exemption limit is increasing. For tax periods beginning in 2024, taxable gross receipts under $3 million will be exempt from CAT. This limit will increase to …

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Tax To-Dos for Newlyweds

Big life changes often have tax implications. Even if a couple marries on December 31, they are considered married for the whole year for tax purposes. Switching to a different filing status isn’t the only thing that needs to be considered. Name changes after marriage must be reported to the Social Security Administration as soon …

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IRS Warns of New Scam

IRS Commissioner Danny Werfel warned taxpayers of a new scam earlier this month stating, “This is just the latest in a long string of attempts by identity thieves posing as the IRS in hopes of tricking people into providing valuable personal information to steam identities and money, including tax refunds.” This new scheme involves receiving …

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BRSW Client Newsletter 2022

Our year-end newsletter is here to help make you aware of any tax planning and upcoming changes that should be considered. If you have any questions, reach out or set up an appointment so we can make a plan together. Have a Merry Christmas and a Happy New Year!

New BOI Requirements For Most U.S. Businesses

Starting January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will require reporting businesses to file a statement of beneficial ownership to identify persons who exercise substantial control or hold at least 25% ownership interest, as well as any individual responsible for filing creation or registration documents. Reporting companies include domestic or foreign entities that …

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Change in Holiday Hours

Our holiday closures for the rest of the year are as follows: Closed Thursday and Friday November 24-25, 2022 for ThanksgivingClosed Friday December 23, 2022 and Monday December 26, 2022 for ChristmasClosed Friday December 30, 2022 and Monday January 2, 2023 for New Years Fridays after noon will continue to be by appointment only until …

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