RKL LLP’s Post

Ohio's Pass-Through Entity Tax can help business owners sidestep the $10,000 cap the IRS placed on state and local tax deductions, but is it right for your business? Find out more here. https://hubs.ly/Q02cNLDn0

Big Ohio tax milestone! Yesterday marked the last day many businesses will file Ohio CAT returns. Cayleb Reyes and I have all the details you need to know about the Ohio Commercial Activity Tax changes that may reduce your business taxes !👇 #taxnews #ohiotaxnews #smallbusinesstax https://lnkd.in/ennWYt77

The Tax Cuts and Jobs Act of 2017’s (TCJA’s) limit on the federal income tax deduction for state and local taxes (SALT) has proven costly for many owners of real estate businesses. However, more than 30 states have now enacted a workaround for pass-through entities (PTEs) that could provide some welcomed tax relief. #realestatelife #realtor #taxes #accounting

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes. Here’s a look at 2024 tax adjustments at the state level from the nonpartisan Tax Foundation, via FP sister publication Accounting Today. #tax #compliance #financialplanning #taxpros #financialadvisors #wealthmanagement #policy #incometaxes

🚨Big changes to the Ohio Commercial Activity Tax have been announced -- very few taxpayers are exempt from this! The new CAT changes, which modify the CAT filing requirements and thresholds, potentially reduce the tax burden for smaller businesses. This article lays out the biggest changes to watch. ⤵️ #SMB #taxupdates

It's tax time! Here's a guide about C Corp taxation and strategies for lowering a C Corp’s tax burden. https://lnkd.in/gYBJMian

Most individual and corporate state tax changes typically come into effect on January 1, aligning with the start of the calendar year for consistency throughout the tax year. Interestingly, several significant changes commence on July 1, marking the beginning of the fiscal year for all states except Alabama, Michigan, New York, and Texas. #tax #state #finance #fiscalyear #calendar year

🚨Big changes to the Ohio Commercial Activity Tax have been announced -- very few taxpayers are exempt from this! The new CAT changes, which modify the CAT filing requirements and thresholds, potentially reduce the tax burden for smaller businesses. This article lays out the biggest changes to watch. ⤵️ #SMB #taxupdates

🚨Big changes to the Ohio Commercial Activity Tax have been announced -- very few taxpayers are exempt from this! The new CAT changes, which modify the CAT filing requirements and thresholds, potentially reduce the tax burden for smaller businesses. This article lays out the biggest changes to watch. ⤵️ #SMB #taxupdates

🚨Big changes to the Ohio Commercial Activity Tax have been announced -- very few taxpayers are exempt from this! The new CAT changes, which modify the CAT filing requirements and thresholds, potentially reduce the tax burden for smaller businesses. This article lays out the biggest changes to watch. ⤵️ #SMB #taxupdates