Excess Fertilizer Tax Strategy
The Ohio State University AG Law Blog recently posted an article on amortizing excess fertilizer in farmland. In certain situations of inheritance or purchase, excess fertilizer, lime, or micronutrients added to soil that remain over and above base nutrient level can be amortized over its depletion. This can be an aggressive tax strategy because the …
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 …
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 …
Things New Farmers Should Know about Taxes
BRSW was recently featured on an Ag Credit podcast. Jon Stoller met with Ag Credit to have a friendly discussion concerning tax planning for new farmers. To listen to the podcast, click here. Note: This is for informational purposes only and should not be relied upon as formal tax advice. Please contact us for specific …
Setting Up Your Non-Profit Organization
Two of the Paulding office CPAs, Andy Manz and Shelby Aschliman, recently partnered with the Paulding County Area Foundation to produce a webinar on the formation of a non-profit business. To listen to the webinar, click here.
Beware of Those Bearing ERC Gifts
Clifton Larson Allen released an article asking businesses to be weary of those that might reach out soliciting to process your Employee Retention Credit claims. If it sounds too good to be true, it probably is. ERC consultant firms are incentivized to take risky positions regarding the credit, as the guidance issued isn’t overly clear, …
Ohio House Changes Which Entities Can Conduct Raffles
The recently enacted Ohio House Bill (HB) 110 has changed which entities are authorized to conduct raffles in Ohio. In the past, school districts were included in the list of entities authorized to conduct raffles, but with the passage of HB 110, public schools are no longer authorized. Any organization who is not under specific …
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Employee Retention Credit: Fact vs Fiction
Determining if your business is eligible for the Employee Retention Credit can be complex and penalties on unpaid payroll taxes can be substantial if ERC is taken erroneously. The following article from the Association of International Certified Professional Accountants navigates through fact and fiction surrounding eligibility including: • The gross receipts test of calendar quarter …
BRSW Announcement: Welcoming Three New Owners
BRSW CPAs, with offices in Van Wert, Columbus Grove, and Paulding, is excited to announce the promotion of 3 new owners to the firm: Andrew Bashore, CPA at our Van Wert office, Todd Meyer, CPA at our Columbus Grove office, and Andy Manz, CPA, CITP at our Paulding office. Please join us in congratulating our …