Insights: Blog

In today's fast-paced digital world, where innovation is king, staying ahead of the curve has never been more crucial. Automation and digital transformation can revolutionize businesses, creating opportunities and boosting success.

We want to bring your attention to a significant processing issue affecting some 2023 Ohio individual income tax returns. Our tax team has identified an emerging situation that may impact clients who received interest income reported on Form 1099-INT during 2023.

The retirement plan outlook is evolving, and innovative solutions are emerging that could transform how businesses approach retirement benefits.

Ohioans voted in favor of Issue 2, a significant change in the state's legal landscape, with approximately 57 percent of voters supporting the measure. This decision legalizes the purchase, possession, and cultivation of marijuana for adults aged 21 and older, along with the implementation of a 10% sales tax on these products sold at licensed dispensaries.

The critical considerations involved in securing financial data through a comprehensive strategy that combines innovative technology with a strong emphasis on employee awareness and best practices deserve a close look.

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. 

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.

In an effort to enhance security and streamline access to government services, the Department of Labor (DOL) has made a significant change to the way retirement plan sponsors access their accounts. They are phasing out the old EFAST2-issued User ID and password and transitioning to a unified system called Login.gov. This change impacts anyone who needs to sign and submit their 2023 Form 5500 series, and it's crucial to stay informed to avoid potential filing problems or delays.

An issue has been identified with IRS reporting related to Form 8955-SSA that may impact some of our clients, and we want to ensure that you are informed and well prepared to address any concerns that may arise.

As a business owner, you are constantly seeking ways to enhance efficiency, minimize costs, and drive your company toward greater success.