How to Set up Multifactor Authentication (MFA) for your BRSW Portal
To enhance security, our portal vendor, Thomson Reuters, now requires Multifactor Authentication (MFA) for all of our clients to log in to their portal. To do this, you will need to install the Thomson Reuters Authenticator mobile app on your phone from the Google Play Store (Android) or App Store (iPhone). Below are instructions and
2021 Inflation Analysis
Paul Neiffer from Farm CPA Today had an interesting analysis of the 2021 inflation numbers. Read his analysis here.
Ohio Home Education Expense Credit
Ohio has a new credit for those who choose home education for their children. Beginning on 2021 Ohio tax returns, taxpayers who choose home education may deduct up to $250 of education expenses for home instruction of their children. According to the Ohio Revised Code: “Education expenses” means expenses or fees for any of the
Paulding Ohio Sales Tax Rate Change
The sales tax rate for Paulding, Ohio increased back to 7.25% as of January 1, 2022 (after decreasing to 6.75% as of October 1, 2021). For our clients who collect Paulding sales tax, you’ll want to update your systems to reflect this change. You can read more about this change here:
IRS to issue Letters for Advance Child Tax Credit and EIP3
The IRS is planning to send out letters for recipients of Advance Child Tax Credit (CTC) and the third round of Economic Impact Payments (EIP). It is important for you to get these letters to us when you receive them so that we can accurately prepare your 2021 tax return. We need you to save them
A Few Payroll Updates
There are a few payroll related items that we wanted to share with our clients. For those of you who have employees on payroll: For Ohio businesses, employers with 10 or more W-2s must be uploaded the W2s to the Ohio Business Gateway (OBG). Under 10, paper W-2s can be mailed or can be uploaded to
BRSW Client Newsletter 2021
We recently completed our 2021 Tax Planning newsletter, and we would like to share it with you. To read the Newsletter, click the link below.
Succession Planning Tips
Succession planning is important for businesses, including for family farms. We recently received an email from another CPA firm with some tips for successful succession planning. You can read these tips here.
Build Back Better Act Information
On November 19, 2021, the House of Representatives passed the nearly $2 trillion Build Back Better (BBB) Act. The Act contains many business and tax items of interest that we wanted to share. This bill has not yet passed the Senate (so most likely it will change) but we wanted to share some of the
IRS releases recommendations for tax season 2022 planning
The IRS has released information to help taxpayers plan for tax season 2022 to make their tax filing process easier. To read the recommendations from the IRS, click here.