Accounting & Business Advisory Blog

Effective for tax years beginning after December 31, 2010, if you paid 1099 contractors or vendors using payment forms other than cash or check, you need to be aware that the IRS has issued new reporting regulations for tax year 2011. These regulations will exclude payment types such as credit cards, debit cards, and those from third party payment networks, like PayPal, from the 1099-MISC form that will instead be reported on the new third party form 1099-K.

If an incorrect information return is...

There are many incentive programs available through various state and Federal agencies to assist businesses in a variety of different ways to expand and grow. One program available through the Ohio Department of Development’s Technology and Innovation Division is an investment tax credit for early stage companies. 

Through this program, qualified investors who invest in qualified technology-based companies receive a credit towards Ohio taxes for 25% of the amount they invest. Certain entities...

Did you make upgrades to your primary residence in 2009?  Are there things around the house that need to be fixed?  If the answer to either of these questions is ‘yes’ – we have good news for you.  For 2009, 2010 and beyond, tax incentives exist for making energy efficient modifications. 

If you have an existing home, that is your primary residence, for 2009 and 2010, tax credits are available at 30% of the cost, up to $1,500 per year.  The following qualify for the credit under these terms:

• Windo...