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The proposals in the AFWA were passed in the House January 31 and the bill has moved to the Senate. Because some of the provisions are retroactive to 2023, such as 100% Bonus Depreciation, Research and Experimental Expenses treatment, and increases to the refundable Child Tax Credit, completing affected tax returns this season will be […]

Congress has introduced a bipartisan bill that extends some of the provisions that have recently expired. The Tax Relief for American Families and Workers Act of 2024 proposes the following changes: Bonus depreciation would go back to 100% for property placed in service in 2023 through 2025. Research and development costs from 2022 and forward

Nearly all businesses with less than 20 full time employees and $5 million in revenue are subject to these new requirements.

Many business owners will be required to e-file information returns for the first time beginning in 2024. The threshold for requiring e-filing by filers has been lowered from 250 of each type of return to 10 total returns in a year (including W-2s) for tax year 2023. The IRS has launched a new portal called

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.

In 2023, estates valued over $12.92 million are taxed federally at 40% on the excess. Giving gifts may help reduce or eliminate estate taxes by reducing the market value of your estate. Taxable gifts refer to the total fair market value of gifts given to others during a calendar year, which can include various types

This Thanksgiving, we would like to take a moment to express our gratitude to our clients. We are thankful for your trust in us and for the opportunity to serve you. Your continued support allows us to grow and improve, and we are committed to providing you with the highest level of service. As a

The Ohio Department of Taxation (ODT) has mailed notices to taxpayers in error. The Verification of Income – Missing Ohio IT1040 notice advises taxpayers that the ODT has not received their individual tax return. If you have received such a notice and believe it was sent in error, no action is needed at this time.

Please be alert to phishing emails that appear to be coming from BRSW with links, QR codes, or attachments. It is important not to click on anything in a phishing email because it could cause issues on your computer. If you are unsure if an email originated from BRSW, please verify with us before clicking

The BRSW Client portal is getting an update November 17, 2023 to improve sign in experience and security. The sign in page will look different but function the same say. You’ll be able to sign in with your existing login information, after which you will be redirected to Thomson Reuters to create a new login