Insights
Tax
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March 20, 2024
IRS Cracks Down on High-Income Earners
Based on its increased funding and resources, the IRS continues to find ways to crack down on higher-income individuals.
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March 1, 2024
Scrutiny on Personal Use of Business Jets Intensifies: IRS to Conduct Audits
The IRS announced that it will be conducting audits on the personal use of business jets, aiming to ensure compliance with tax regulations.
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February 23, 2024
Unrealized Income Under Scrutiny: Will SCOTUS Unleash Chaos on the US Tax Code?
SCOTUS considered the question: "How is income defined?" Moore v. United States centered on the question of taxation of unrealized income.
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December 7, 2023
Limited in Name but Not in Tax? U.S. Tax Court Increases Tax Liability for Limited Partners
A recent court decision will likely result in additional tax to limited partners when the limited partner has an active role in the business.
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November 17, 2023
IRS Increases 2024 Federal Estate Tax Exemption and Gift Tax Exclusions: Key Points for Taxpayers
The new 2024 exemption and exclusion amounts are record-setting highs providing perhaps the most favorable tax environment to date.
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November 1, 2023
Commercial Activity Tax Changes Brings Additional Opportunities for Business Growth in Ohio
Under a bill signed by Gov. DeWine this year, companies subject to Ohio’s Commercial Activity Tax (CAT) will get a tax break beginning in 2024
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September 27, 2023
Artificial Intelligence Allows IRS to Increase Scrutiny of High-Earners & Partnerships
IRS announced an effort using AI to ensure compliance with federal tax law, focusing on high-income earners, partnerships, and corporations.
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September 5, 2023
Maximizing Tax Benefits: Exploring SALT Cap Workarounds
Taxpayers living in one of the 36 states allowing the SALT cap workaround should consider implementing such an arrangement.
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June 21, 2023
IRS Challenges Charitable Status of NIL Collectives, Casting Doubt on Donations to Support College Athletes
Is it charitable to donate to a group that facilitates opportunities for athletes at a particular college? The IRS thinks not. In a recent memo released from th…
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June 9, 2023
Ohio Senate Proposes Budget Ahead of June 30 Deadline
This past Tuesday the Republican controlled Ohio Senate unveiled its two-year budget proposal with significant changes to Ohio’s tax code.
