Category Archives: Tax Planning

Home Office

Can You Benefit From the Home Office Deduction?

Are you a self-employed individual who performs most of your work from a special place in your home?  Or an employee who works from home?  If so, you may be able to deduct a portion of your household expenses on your income tax return. The rules for qualifying for the home office deduction are fairly

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Snow-Trees

What the DOMA Ruling Means for Same-Sex Spouses in Ohio

Based on the Supreme Court decision in the Windsor case that ruled a portion of the federal Defense of Marriage Act (DOMA) unconstitutional, the IRS issued guidance in August, 2013 to assist same-sex spouses with their income tax returns (Rev. Rul. 2013-17).  Per the IRS guidance, same-sex spouses who are legally married in a state

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ODOT

Tax Deduction for Ohio Small Business Owners

If you are a small business owner earning income in the state of Ohio, 2013 brought good news on the tax front.  Starting in 2013, owners of pass through entities are now able to exclude half of their business income from the Ohio income tax.  There are caps on the maximum deduction permitted, but it

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Snow-Cabin

Will You Pay Higher Taxes on Your 2013 Return?

January 1, 2013 brought massive changes to the individual income tax structure to wage and investment income earners.  Taxpayers are now faced with a new maximum tax rate, higher rates on dividend and long-term capital gain income, a decrease in itemized deductions and personal exemptions, and even two new taxes that can hit income.  A

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