Professional Accounting Blog

    Accounting For Your Prosperity

    Jonathan Ciccotelli

    Jonathan Ciccotelli is the Partner-In-Charge of Meaden & Moore’s Tax Services Group. For over 29 years, Jonathan has worked closely with private and public companies in manufacturing, transportation, distribution, construction, and retail under a variety of business structures, including S-corporations, C-corporations, consolidated groups, and limited liability companies. He enjoys running, cycling, and cheering on his kids at sporting events.

    Recent Posts

    Ohio Bureau of Workers Compensation Deferral

    Posted by Jonathan Ciccotelli on Mar 22, 2020 11:21:03 AM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    Ohio’s Bureau of Workers' Compensation (BWC) system is the exclusive provider of workers’ compensation insurance in Ohio and serves 249,000 public and private employers.

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    Internal Revenue Service postpones certain returns and payments due April 15, 2020

    Posted by Jonathan Ciccotelli on Mar 21, 2020 2:22:50 PM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    On Friday March 20, 2020 the Internal Revenue service published Notice 2020-18 which supersedes previously issued guidance under Notice 2020-17.  The Secretary of the Treasury has determined that any person with a Federal income tax payment or a Federal income tax return due April 15, 2020, is affected by the COVID-19 emergency for purposes of the relief. 

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    Families First Coronavirus Response Act

    Posted by Jonathan Ciccotelli on Mar 20, 2020 2:58:12 PM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    The first two phases of The Families First Coronavirus Response Act (the “Act”) was signed into law by President Trump on March 18, 2020. The Act has a substantial impact to employers across the country by extending employee sick leave benefits through two components – the Emergency Family and Medical Leave Expansion Act (“E-FMLA”) and the Emergency Paid Sick Leave Act (“E-PSL”). Preliminary legislative text of the Senate’s "much bolder," phase three measure, is expected to be unveiled any day. 

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    IRS Extends Tax Filing Deadline to July 15 as Coronavirus Spreads

    Posted by Jonathan Ciccotelli on Mar 20, 2020 11:32:11 AM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    The IRS is moving its national income tax filing day ahead to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced today.

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    The IRS extends the federal income tax payment deadline

    Posted by Jonathan Ciccotelli on Mar 19, 2020 4:30:15 PM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    After U.S. Treasury Secretary Steven Mnuchin’s announcement that the deadline for paying federal income taxes would be extended, the IRS released guidance on March 18 outlining the details. IRS Notice 2020-17 follows up on President Trump’s Emergency Declaration that, among other things, instructed Mnuchin to provide relief from tax deadlines for taxpayers adversely affected by the coronavirus (COVID-19) pandemic.

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    Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

    Posted by Jonathan Ciccotelli on Mar 18, 2020 7:41:48 PM

    Topics: Tax Planning & Strategies, COVID-19

    Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance (Notice 2020-17) allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. 

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    COVID-19 State and Local Taxpayer Guidance

    Posted by Jonathan Ciccotelli on Mar 17, 2020 4:42:22 PM

    Topics: Tax Planning & Strategies, COVID-19

    As you are all aware, COVID-19 is drastically impacting how business is being conducted throughout the United States of America and the entire World.  In addition to the guidance issued by the Internal Revenue Service (IRS) regarding penalty and interest waivers, many states have or are in the process of issuing their own guidance.

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    You should still file your taxes by April 15 if you anticipate a refund

    Posted by Jonathan Ciccotelli on Mar 17, 2020 3:23:05 PM

    Topics: Tax Planning & Strategies, COVID-19

    At a press conference held today, U.S. Treasury Secretary Steven Mnuchin announced the following while at the White House:

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    House passes bill to provide coronavirus relief; Senate expected to act this week

    Posted by Jonathan Ciccotelli on Mar 17, 2020 9:54:37 AM

    Topics: Tax Planning & Strategies, Accounting & Auditing, COVID-19

    Several arms of the federal government have taken, or are weighing, significant steps to help the country deal with the spread of the coronavirus (COVID-19) and the implications for individuals and businesses.

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    New Regulations Make Bonus Depreciation Even More Taxpayer Friendly – For Now

    Posted by Jonathan Ciccotelli on Mar 10, 2020 5:01:55 PM

    Topics: Tax Planning & Strategies

    Bonus depreciation is a pro-taxpayer measure Congress enacted in the early 2000s to reward businesses forinvesting in new property. It allows taxpayers to immediately deduct a certain percentage of their equipment costs in the year of purchase. In 2017, the tax reform bill known as the Tax Cuts and Jobs Act (TCJA) expanded the bonus depreciation allowance by permitting taxpayers to recover 100% of their asset costs (up from the prior-year allowance of 50%) and to apply bonus depreciation to both new and used property. But the benefits didn’t stop there.

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