The Ohio General Assembly unanimously passed a bill that reverses a previous tax measure, passed in July, that required lawyers and lobbyists to pay tax on the first $250,000 of income they earned.
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In May, we informed you the Ohio Bureau of Workers’ Compensation (BWC) would be issuing $1.5B in rebates to employers; and true to their word, many local employers have started receiving rebate checks in the mail.
The BWC is issuing rebates equal to 88% of the employer’s 2018 premiums (for the period running July 1, 2017 to June 30, 2018.)
The Ohio Department of Taxation announced they have begun a new process for registering new pass-through entities (PTE.) In the past, the department’s old computer system registered and created accounts for new PTEs upon the filing of their first return. One challenge with this process was that many PTEs made estimated payments prior to filing their first return.
The Ohio House and Senate passed two different - and conflicting - budget bills prior to the June 30th deadline. A major point of contention between the bills was the treatment of Ohio’s Business Income Deduction (BID).
If you are burning the candle at both ends, sooner or later it’s going to catch up with you. That’s reality. No matter how passionate you are about your business, no matter your level of drive to succeed, if you push too hard for too long you will experience burnout.
The Bureau of Workers’ Compensation (BWC) has announced a proposal to provide Ohio employers with a $1.5B rebate. This rebate comes as the result of stronger than expected returns on investments.
The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has announced they have approved a 20% cut in premiums for private employers. The cut was proposed by BWC’s Director and CEO.
The Ohio Bureau of Workers' Compensation (BWC) has proposed a 20% reduction in the average premium rate charged to private employers.
The deadline is approaching for private employers to “true-up” with the Ohio Bureau of Workers’ Compensation (BWC).
A press release posted on the Ohio BWC website reminds employers they have until Aug. 15 to complete an important action necessary for the BWC to accurately calculate premiums.
According to the press release, prior to each policy year (July 1- June 30), employers' payroll amount, the basis for their premium, is estimated based on historical data. When the policy year-ends, employers are required to true-up, which means they must report the actual payroll for the policy year that ended on June 30 and reconcile any difference in premium paid.
Effective June 1st 2018 Zinner & Co. will officially adopt Intuit’s Quickbooks Discontinuation policy. If you are using Quickbooks version 2015 or older, you will need to upgrade to maintain compliance. This policy will maintain support for the three most recent versions of Intuit Quickbooks. The annual drop date for the oldest product version is May 31st. Intuit’s current “Disco” policy states: