Self-employment Income from Short-term Rentals

IRC Sec. 1401(a) imposes a tax on an individual's Net Earnings…

Advance Child Tax Credit Information Letters

The IRS will issue information letters to Advance Child Tax Credit…

2022 Tax Filing Season Opens January 24

The IRS announced that the nation's tax season will start on…

RMD Alert

In an Employee Plans News Alert, the IRS has reminded taxpayers…

Schumer wants BBB bill completed by Christmas

Senate Majority Leader Charles Schumer, D-N.Y. says he wants…

Happy Thanksgiving

Sending good wishes to you this Thanksgiving! Good food that…

House passes Build Back Better Bill

House lawmakers on Nov. 19 approved the $1.7 trillion Build Back…

ARM Announces New Shareholder

ARM is pleased to announce, effective 01/01/2022, Chelsea Williams…

Tax Implications of Selling Virtual Currency

Cryptocurrency is not backed by any government. Therefore, it…

Tax Implications of Selling Physical Gold or Silver

Physical holdings in precious metals are capital assets. The…

Bitcoin Mining Tax Implications

The IRS has not provided a large amount of guidance regarding…

Gold Mining Tax Implications

Physical materials have provisions regarding natural resource…

IRS issues safe harbor for employers claiming the employee retention credit

The IRS has provided a safe harbor for employers claiming the…

Ohio Renews Tax Credits for Opportunity Zone Investments

As part of the state budget signed into law on June 30, 2021,…

Highlights of President Biden's Proposed Tax Plan

In late May, the Treasury Department released its General Explanations…

Guidance on Claiming the Employee Retention Credit for the First and Second Quarters

The IRS recently released Notice 2021-23, providing guidance…

SBA Announces the Closure of the Paycheck Protection Program

On June 1, 2021, Small Business Administrator Isabella Casillas…

General PPP Funding Exhausted and Most Applications No Longer Accepted

A spokesperson for the U.S. Small Business Administration (SBA)…

IRS extends additional tax deadlines for individuals to May 17

The IRS has issued a Notice that extends, from April 15 to May…

Ohio Tax Deadline Extended

Ohio Tax Commissioner Jeff McClain today announced that Ohio…

Tax Day for individuals extended to May 17

IR-2021-59, March 17, 2021 WASHINGTON — The Treasury Department…

ARPA modifications to the employee retention tax credit in 2021

We thought you might be interested in the modification and extension…

IRS Commissioner again says tax season won't be extended

At a March 3rd virtual tax conference hosted by the Federal Bar…

President agrees to faster phaseout of $1,400 stimulus checks

President Joseph Biden has agreed to a compromise with moderate…

InvestmentNews - Employee Retention Credit

Click Here for InvestmentNews video featuring Bill Vasil, ARM…

IRS Commissioner: No plans to extend tax season beyond April 15

In February 23 testimony before the House Appropriations Committee…

InvestmentNews - Meals

Click Here for InvestmentNews video featuring Bill Vasil, ARM…

COVID-19 Relief Package Advances in the House

The House Budget Committee has approved the American Rescue Plan…

Individual Tax Provisions of the New Appropriations Act

On 12/27/20, the massive Consolidated Appropriations Act, 2021…

InvestmentNews - PPP Loans

Click Here for InvestmentNews video featuring Bill Vasil, ARM…

Foreign Bank and Financial Accounts (FBAR) Filing Requirement for Virtual

Virtual currency is a digital representation of value that functions…

House Democrats unveil partial draft of COVID relief bill

The House Ways and Means Committee is slated to mark up legislative…

Victims of unemployment comp identity theft should seek corrected Form 1099-G

In a News Release, IRS has urged taxpayers who receive a Form…

Deductibility of Business Meals Provided by Restaurants in 2021 and 2022

You've probably heard that the recent stimulus legislation included…

Which clients could benefit from a Roth conversion?

https://www.investmentnews.com/video/200644 A few factors make…

IRS won’t postpone July 15 filing, payment deadline

In an Information Release, the IRS has announced that the July…

Improvements to Interior Parts of Nonresidential Buildings

This article is to alert you to a beneficial change in the tax…

Tax Aspects of the CARES Act

Late in the evening on Wednesday, March 25th, Congress agreed…

IRS Tax Payment/Filing Relief

Treasury Secretary Steven Mnuchin just announced that the IRS…

Bernie Sanders Tax Plan

Tony Nitti is a regular contributor to Forbes.com, covering tax…

President's Budget would extend TCJA

President Trump has issued a budget proposal for fiscal year…

SECURE Act

Congress recently passed, and the President signed into law,…

Happy Thanksgiving

ARM CPA hopes that you and your family have wonderful Thanksgiving…

Filing Joint vs Separate

In general, your decision will depend upon which filing status…

Tax Aspects of Parent in Nursing Home

Deductibility of long-term medical care services. The costs of…

Treatment of Alimony Post Tax-Reform

The Tax Cuts and Jobs Act (TCJA) has made changes to the tax…

Nanny Tax

The “Nanny Tax” isn't limited to a nannies. It also applies…

HSA Figures for 2020

Health Savings Accounts (HSAs) allow eligible individuals to…

ARM Explores “Firm of the Future” Strategies at 2019 BKR Conference

ARM is among more than 50 global accounting firms that visited…

House unanimously approves IRS reform bill

House lawmakers on Tuesday, April 9 approved by unanimous consent…

Credit for Plug-in Electric Vehicles

Under IRC Sec. 30D(e)(2), the credit for new qualified plug-in…

Retirement reform bill introduced in House

On Saturday (March 30), a bipartisan retirement reform bill was…

IRA Deadline Approaching for Required Minimum Distributions

A critical date is approaching for many people who attained age…

IRS Extends Penalty Relief

In an Information Release and Notice, IRS has expanded the estimated…

W-2 Withholdings (Tax Cut & Jobs Act)

In a letter to Ranking Member of the Senate Finance Committee…

Qualified Opportunity Funds

The recently enacted Tax Cuts and Jobs Act (TCJA) introduces…

Bipartisan tax extenders and disaster tax relief introduced in the Senate

On February 28, Senate Finance Committee leaders introduced legislation…

Senate approves bill to avoid shutdown

On Thursday, February 14, the Senate approved a budget measure…

Temporary Tax Provisions not yet Extended

Legislation to extend "extenders," i.e. tax provisions with termination…

Family and Medical Leave Credit

The Tax Cuts and Jobs Act introduces a new component credit for…

IRS Provides Section 199A Safe Harbor for Rental Real Estate

In a Notice that includes a proposed Revenue Procedure, the IRS…

Filing Season Opened 1/28/2019

The IRS has announced that despite the government shutdown, the…

Ultra-Millionaire Tax

On January 24, Senator Elizabeth Warren (D-MA) proposed an "Ultra-Millionaire…

SALT Limitation Workaround

The Treasury and IRS have proposed new regulations that will…

ARM is Hiring!

ARM is hiring full-time staff auditors, a summer audit intern…

Charitable Deduction Strategy

Under the new tax law, many taxpayers find themselves receiving…

Athlete Tax Planning

Under prior tax law an athlete was able to maximize tax savings…

Sales Tax Holiday

Looking for a way to reduce your tax liability? How about not…

ARM Drives Change and Innovation at Leading Accounting Conference

2018 BKR International Americas Regional Meeting La Romana,…

ARM Presents at FPA

On May 17th, Ary Roepcke Mulchaey tax partner Bill Vasil presented…

State, Local and Real Estate Tax Deduction Capped in 2018

Beginning with the 2018 tax year, individuals are now limited…

529 Plan Changes

The Tax Cuts and Jobs Act (TCJA) has made some changes to qualified…

Alimony Deduction

The Tax Cuts and Jobs Act (TCJA) has made changes to the tax…

Mortgage Interest Deduction

Under the pre-TCJA rules, you could deduct interest on up to…

Ohio 529 Deduction Increased to $4,000

Effective Jan. 1, 2018, the state income tax deduction for contributions…

Corporate Responses to Tax Reform

According to a Reuters/Ipsos poll released on January 29, two…

Health Care Mandate

Starting in 2019, the TCJA has eliminated the shared responsibility…

Young Professional Workplace Award

ARM CPA was recently honored by the The Columbus Young Professionals…

IRS Releases 2018 Withholding Tables

The IRS has released updated withholding tables for 2018. The…

Child Tax Credit

Under pre-Act law, the child tax credit was $1,000 per qualifying…

Business Tax Reform

The recently enacted Tax Cuts and Jobs Act (“TCJA”) is a…

Individual Tax Reform

The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping…

Estate Tax Reform

Changes to the estate and gift tax exemption were made by the…

20% Qualified Business Income Deduction

A significant new tax deduction will take effect in 2018 under…

Year-end Moves in Light of Tax Reform Legislation

Congress appears poised to enact a major tax reform law that…

Thanks for Being a Part of Our Firm’s Family!

At this time of year, we sit down with our families to acknowledge…

HOUSE GOP PROPOSES MASSIVE TAX CODE OVERHAUL

  On November 2nd, the House Republicans unveiled their…

Highly Anticipated Tax Reform Framework Released

After nearly a year of anticipation following President Trump's…

2017 Ohio Sales Tax Holiday

The state of Ohio has enacted a one-time only sales tax holiday…

Tom Henderson Earns CPA Designation

ARM wishes to congratulate Tom Henderson on passing the CPA exam…

ARM CPA RACES TO EXCELLENCE IN THE “DERBY CITY”

Ary Roepcke Mulchaey (ARM CPA) was among the more than 50 global…

Have Questions? We’re Here All Year!

Many clients see their CPAs at tax time, when the main focus…

Volunteer Tax Breaks

If you are a volunteer worker for a charity, you should be aware…

Statute of Limitations on Back Taxes

If you owe back taxes, how long does the IRS have to assess and…

Do You Have Foreign Assets? FBAR May Apply to You

Are you aware of the nature of all your investments, domestic…

Consider state tax in retirement

When you retire, you may consider moving to another state —…

Avoid Refund Delays!

Many people dread tax time, but it can be even more frustrating…

Documenting Your Charitable Donations

Many people make donations to charities whose work they support,…

2016 Tax Filing Deadlines

For tax year 2016, the IRS adjusted several due dates for the…

Beware of Tax Scams!

Did you know that con artists posing as Internal Revenue Service…

IRS Renews Warning about Form W-2 Scam

The IRS has renewed its warning about an email scam that targets…

Tax reform included in Kasich's Budget Proposal

Click here to read the Kasich Administration's summary of the…

Obamacare (And Net Investment Income Tax) Repeal

On January 4th, the United States Senate voted 51-48 on a motion…

Upcoming Changes to Not-for-Profit Accounting

In August of 2016, after receiving over 250 comment letters since…

Trump's Tax Plan

Beginning Jan. 20, 2017, the Republican Party will be in control…

No More “Victory Tax” for U.S. Olympians

Previously, America’s Olympic medalists were liable for federal…

Social Security wage base increases to $127,200 for 2017

The Social Security Administration has announced that the wage…

ARM ANNOUNCES PROMOTION

ARM is pleased to announce the promotion of Carrie Hoover to…

Tax Consequences of Crowdfunding

Background Crowdfunding has quickly become a popular alternative…

Airbnb Hosts: Tips for Tracking and Reporting Your Rental Income

Founded in 2008, Airbnb is a marketplace for people to list and…

The 529 Plan Scholarship Exception

If you were fortunate enough to be able to save money to pay…

ARM Mid-Year Tax Planning Series (4 of 4): Don’t Pass up Tax-free Income

Take Advantage of Retirement Plan Options. The earnings on most…

Ohio Tax Fraud Alert

The Ohio Department of Taxation released the following statement…

ARM Mid-Year Tax Planning Series (3 of 4): Maximize Your Business Deductions

Take Advantage of the Generous Section 179 Deduction and First-year…

ARM Mid-Year Tax Planning Series (2 of 4): Make the Standard Deduction Work for You

Make the Standard Deduction Work for You The tax rules allow…

ARM Mid-Year Tax Planning Series (1 of 4): Take a Look at Your Investments

The 2016 federal income tax rates on long-term capital gains…

House Republicans Release Tax Reform Blueprint

On June 24th, House Republicans released “A Better Way—Our…

Tax Refunds May Be Delayed in 2017 Due to Increased Identity Theft

Millions of taxpayers will have a longer wait for tax refunds…

Where Your 2015 Income Tax Dollars Went

The National Priorities Project (NPP) completed a study to uncover…

2016 Ohio Sales Tax Holiday

On Wednesday, April 27, the Ohio House of Representatives joined…

ARM ATTENDS BKR's 2016 CONFERENCE IN TORONTO

May 2016, New York – Eric Mulchaey and William Vasil of Ary…

DOL Overtime Rules

On May 19, 2016, after being introduced almost a year ago, President…

Top Accounting Firm

AdvisoryHQ recently compiled a list of the top nine accounting…

ARM Featured by Ohio Secretary of State

ARM CPA was one of 7 Ohio CPA firms featured on the Ohio Secretary…

2016 RMDs

A critical date is approaching for many people who attained age…

Roth IRAs

Contributions. For 2015, you can contribute up to $5,500 to a…

IRS sees surge in electronic tax scams

E-mail and texting scams designed to dupe U.S. taxpayers into…

2016 Municipal Payroll Withholding Deadline Change

As of January 1, 2016, changes to Ohio’s municipal income…

Ohio Business Income Tax Deduction

Virtually all businesses are now eligible for a 75% tax deduction…

Tax Extenders - PATH Act of 2015

On December 16, Finance Committee Chairman Orrin Hatch (R-UT),…

Tax Identity Theft Victims Can Request Copies of Fraudulent Returns

If you were a victim of tax identity theft, you likely had to…

Lease Accounting Overhaul Makes Headway

What started as a convergence project to assimilate lease accounting…

Tax Identity Theft

Background The Federal Trade Commission (FTC) estimates as many…

Check Before You’re Charitable: IRS Releases Warning on SC Flood Relief Scams

The Internal Revenue Service has issued an official warning about…

New Version of the CPA Exam Scheduled for Launch in 2017

As most things eventually do, the CPA exam is in need of an update.…

ARM Attends Career Fair for Ohio State Accounting Students

ARM recently attended another recruiting event at The Ohio State…

Fisher College of Business Event at the Shoe

Several members of ARM attended the Master of Accounting (MAcc)…

Are You Keeping Adequate Records of your Charitable Contributions?

If you are a taxpayer who itemizes deductions, you may take advantage…

DOL Releases Report on Audit Quality

In May of 2015, the Department of Labor released a report on…

Ohio Sales Tax Holiday

The state of Ohio has enacted a one-time only sales tax holiday…

ARM Announces New Audit Staff

ARM is excited to welcome Marissa Crawford as our newest staff…

Amazon Starts Charging Sales Tax to Ohio Consumers

Amazon announced that it will start collecting sales tax on online…

Upcoming Changes to Not-for-Profit Accounting

Those who prepare not-for-profit financial statements face significant…

2015 Tax Return Filing Deadline

The IRS announced in Revenue Ruling 2015-13 the filing deadline…

"Jock Tax" Update: Cleveland Files Motion for Reconsideration

Cleveland city attorneys filed a motion for reconsideration in…

Professional Athletes: State Income Tax Planning

The NFL recently held its 2015 draft in Chicago, Illinois for…

IRS Releases HSA Adjustments for Tax Year 2016

The Internal Revenue Service released Revenue Procedure 2015-30…

Cleveland's “Jock Tax” Under Scrutiny

Several professional athletes have questioned the method that…

Where's My Refund?

If you have not received your federal income tax refund, you…

Anthem Security Breach and How It Affects Your Taxes

Anthem was the target of a sophisticated external cyber-attack…

Gov. Kasich Releases Ohio Budget Proposal

Ohio Governor John Kasich unveiled his budget proposal for fiscal…

Ohio Taxpayer Fraud Alert

The Ohio Department of Taxation began sending notifications to…

Ohio Residency Requirements Change for Income Tax Purposes

Ohio increased the number of “contact periods” allowed before…

ARM Announces New Staff Accountant

ARM is pleased to announce that Cody Morris will join the firm…

2014 Tax Extenders Officially Announced

Congress has once again extended the "extenders," a varied assortment…

ARM Announces New Tax Senior

ARM is pleased to announce that Matt Stallkamp will join the…

ARM Announces Promotion

ARM is pleased to announce the promotion of Rose Boggs to tax…

BKR International Annual Worldwide Meeting

Eric Mulchaey and Bill Vasil attended BKR International’s Annual…

Rose Boggs & Hayley Walton Earn CPA Designations

ARM wishes to congratulate Rose Boggs and Hayley Walton on passing…