Professional Accounting Blog

    Accounting For Your Prosperity

    Leslie Kasten

    Leslie is a Senior Manager in the Tax Services Group and has over 15 years of experience providing strategic tax, accounting and business advisory services to companies and their owners in a variety of industries including manufacturing, construction, trucking and service. She focuses her practice on corporate and “flow-through” entities and how to minimize the tax liabilities of their owners. Leslie specializes in multi-state taxation, including nexus analysis and voluntary disclosures. Her responsibilities include keeping current with new laws, rulings and court opinions that impact the firm’s clientele and representing clients that are under audit and serving as their advocate throughout the audit process. Leslie assists her clients in navigating through the complex environment of multi-state income, franchise, sales and use, property and payroll taxes.

    Recent Posts

    Employee Retention Credit Available for Employers Impacted by the Recent Hurricanes

    Posted by Leslie Kasten on Apr 4, 2018 4:22:18 PM

    Topics: Tax Planning & Strategies

    Employers who have been impacted by hurricanes Harvey, Irma, and Maria in the fall of 2017 may be able to seek temporary relief thanks to the passage of recent Federal legislation. The New Employee Retention Credit is available to certain employers who continued to pay their employees during the weeks or months that their businesses were shut down as a result of the recent hurricanes. This credit was signed into law by President Trump on September 29, 2017 as part of the Disaster Tax Relief and Airport Airway Extension Act of 2017.

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    Sales of Services: The Growing Trend Toward Market-Based Sourcing

    Posted by Leslie Kasten on Mar 22, 2018 11:49:38 AM

    Topics: Tax Planning & Strategies

    For many companies, their customer base can extend far beyond the boundaries of the state of commercial domicile. Since state income tax rules are determined separately by each state, this can get complicated. Do you pay tax to the state you operate in? Or to the state where your customers are located? What if you have customers in various states?

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    Deadline Quickly Approaching to Opt-In to Ohio’s Centralized Filing for City Tax Returns

    Posted by Leslie Kasten on Feb 1, 2018 12:39:24 PM

    Topics: Tax Planning & Strategies

    New Tax Law Provides More Generous Depreciation-Related Tax Breaks.jpg

    There are over 600 cities and villages in Ohio that impose a municipal income tax on businesses.  Many businesses find it a burden to comply with the filing requirements and the price to comply is sometimes higher than the taxes that are due.

    Effective for taxable years beginning on or after January 1, 2018, business taxpayers are able to opt-in and file one municipal net profit tax return with the Ohio Department of Taxation.  Sole proprietors, single member LLC’s, and individuals are not eligible for this filing system.  Businesses that elect into the centralized system will file a single municipal net profits tax return that will include every municipality in which they are required to file returns. It is not mandatory to opt-in, however, the centralized filing system is an all or nothing system meaning you cannot pick and choose which cities to include or exclude.

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    Online Marketplace Seller Voluntary Disclosure Initiative and Ohio Amnesty Program

    Posted by Leslie Kasten on Sep 26, 2017 8:00:00 AM

    Topics: Tax Planning & Strategies

    State tax authorities are making progress in their quest to collect tax on online transactions, expanding their efforts to work together to elicit voluntary compliance.

    Any business that qualifies as an “online marketplace seller” should take notice of an opportunity to catch up on taxes that should have been collected in the past and remitted to authorities in a number of different states. It’s a tax amnesty program operated by the Multistate Tax Commission, which is a federal agency of state tax authorities promoting uniformity in state approaches to tax law.

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    Tax Highlights from Ohio’s 2018–2019 Budget Bill

    Posted by Leslie Kasten on Sep 6, 2017 3:30:17 PM

    Topics: Tax Planning & Strategies

    On June 30, 2017, Governor John Kasich signed Ohio’s 2018–2019 budget bill. The budget bill reduces Ohio personal income tax rates, adds a substantial nexus provision for sales and use tax purposes, and makes major changes to Ohio municipal income tax. An overview of these and other major tax provisions is outlined below.

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    Get Ready for Sales Tax Free Holidays

    Posted by Leslie Kasten on Jul 28, 2017 9:43:14 AM

    Topics: Accounting & Auditing

    Ohio, along with approximately fifteen other states is helping businesses boost sales during the back-to-school shopping season - one of the busiest periods of the year. Passed for 2017 only, Ohio’s S.B. 9 enacts a sales tax free holiday from 12:00 a.m. Friday, August 4, 2017 through 11:59 p.m. Sunday, August 6.

    According the National Retail Foundation, in 2016, the average family was expected to spend an average of $673.57 on apparel, shoes, supplies, and electronics to get ready for the school year. The sales tax-free holiday enables businesses to attract more of these customers from home and neighboring states by strengthening brands, offering additional promotions and focusing on sales, not tax reporting.

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    Ohio Municipal Income Tax Reform: Its Impact on Realtors

    Posted by Leslie Kasten on Dec 20, 2016 8:00:00 AM

    Topics: Tax Planning & Strategies

    Principles of Municipal Income Tax Reform

    The Ohio Municipal Income Tax Reform required municipal corporations levying income tax to amend their existing tax ordinances as of January 1, 2016. The rules of this reform are streamlined for all taxing cities. This tax reform was effective for taxable years beginning on or after January 1, 2016 with the exception of new net operating loss carryforward provisions which are effective for taxable years on or after January 1, 2017. One group of taxpayers that may not realize the impact the reform has on them is realtors. When the reform was introduced, most of the focus was on the larger changes impacting all taxpayers which is why the changes impacting realtors may have gotten overlooked by some.

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    Ohio Municipal Income Tax Reform: How it Affects You

    Posted by Leslie Kasten on Feb 4, 2016 10:52:01 AM

    Topics: Tax Planning & Strategies

    Legislation was passed in 2015 which brought about reform for municipal income tax in Ohio. Municipalities that levy income tax are required to amend their existing tax ordinances as of January 1, 2016. Some of the goals of the tax reform include: 

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    Ohio Continues to Look Out for Business Owners

    Posted by Leslie Kasten on Dec 17, 2015 9:21:51 AM

    Topics: Tax Planning & Strategies

    In 2014, the Ohio small business tax deduction was set at 50%. This year, businesses in Ohio are eligible for a 75% tax deduction thanks to the signing of Senate Bill 208 by Governor John Kasich. It is important to note that this deduction is for the first $250,000 of business income for those who have the filing statuses of married filing jointly or single. For spouses who are filing separate returns, the deduction covers the first $125,000 of business income. For businesses with multiple owners, the deduction is capped at $187,500 per owner or investor. Again, there are a variety of limitations to this rule based on filing statuses.

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