If your company has a use it or lose it policy for employee paid time off, for many they just lost any unused paid time off. There are some ways to avoid this so that your employees can fully enjoy their PTO and maybe even help them plan for retirement. Unused PTO time is a […]

Long-awaited new legislation alters the landscape of retirement planning for taxpayers of all ages, and there are changes taking immediate effect in January 2023. The principal focus of the SECURE 2.0 Act is to expand retirement coverage and increase retirement savings. SECURE 2.0 is meant to build on the original SECURE Act of 2019, which […]

With higher gas prices in 2022, the IRS increased the business cents-per-mile rate to 65.5 cents per mile (a 3-cent increase from the 62.5-cent rate that applied during the second half of 2022). These rates apply to electric, hybrid, gasoline, or diesel powered vehicles used for business. How rate calculations are done The 3-cent increase […]

Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a good way to double-check your objectives and expectations is to revisit your business plan. Remember your business plan? If you created one recently, or keep yours updated, it might […]

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your operating […]

If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory method. That’s because of the LIFO recapture income that will be triggered by converting to S corporation status. Your Rudler, PSC advisor can meet with […]

Beginning in 2021 taxpayers can claim an Ohio tax credit for contributions made to an eligible scholarship granting organization (SGO). A list of Certified Scholarship Granting Organizations can be found here: https://charitable.ohioago.gov/Scholarship-Granting-Organization-Certification/List . The credit itself is a dollar for dollar non-refundable credit up to $750 per individual ($1,500 married filing joint). If you receive […]

It might sound like the lingo of air traffic controllers — inbound vs. outbound. But businesses of all types must grapple with these concepts and their associated challenges when developing sales strategies. Inbound sales originate when someone contacts your company to inquire about buying a product or service, whereas outbound sales arise from members of […]

Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution. Because […]

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. January 17 (The usual deadline of January 15 is on a Sunday and January 16 is a federal […]