BREAKING NEWS

BMF Named a Best of the Best Firm by IPA

We are excited to announce that we have named to the 2020 Best of the Best Firms list by INSIDE Public Accounting, an award-winning newsletter for the accounting profession.

Articles & Publications

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Payroll Tax Holiday – Friend or Foe?

Remember the payroll tax deferral for employers we talked about a few months ago? In early August, President Trump signed a few executive orders to help people who are struggling financially, including payroll deferrals for employees. The Order says. Read More >>

IRS Delays and Other Issues on 2019 Tax Filings

The Internal Revenue Service (IRS) has been experiencing several delays and other issues in connection with processing tax returns and payments. Below we’ve highlighted guidance around some of the more common items that our clients are experiencing related to. Read More >>

New Rules for Required Minimum Distributions

There have been several changes to Required Minimum Distribution (RMD) rules this past year. When the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed last December, it changed the age limit for RMDs from age 70 ½. Read More >>

Ohio’s 2020 Sales Tax Holiday for Back-to-School Shopping is Aug 7-9

The Ohio Department of Taxation announced that the 2020 Sales Tax Holiday will start on Friday, August 7, 2020 and end on Sunday, August 9, 2020 at midnight. During the holiday, the following items will be exempt from tax:. Read More >>

Ohio Issues CAT Guidance on PPP Loan Forgiveness

Companies who have received Paycheck Protection Program (PPP) loans through the CARES Act may be wondering how to treat the loan and potential forgiveness amounts for Ohio Commercial Activity Tax (CAT) purposes. The amount of the company’s PPP loan. Read More >>

State and Local Impact of Working from Home Post-Pandemic

On March 27, 2020, Ohio Governor Mike DeWine signed House Bill 197 into law, which includes a provision that clarifies the treatment of municipal income tax withholdings while employees are working from home rather than their principal place of. Read More >>

Opportunities and Implications of the Business Law & Tax Changes in Response to COVID-19

Tod Wagner discusses tax planning in the current environment, including tax law changes and extensions in response to COVID-19. Read More >>

Paycheck Protection Program: Taxability of Loan Forgiveness

On April 30, 2020, the IRS released additional guidance in Notice 2020-32 regarding the tax treatment of amounts forgiven under the Paycheck Protection Program (PPP) loans, which are a key part of the CARES Act. According to this new. Read More >>

IRS Broadens Tax Filing and Payment Relief, Refund Guidance Coming Soon

Previous tax return and payment relief were centered around income tax filings due by April 15, 2020. This newest relief applies to all taxpayers that have a filing or payment, specified in this notice, with a due date falling. Read More >>

Ohio Gov. DeWine Signs COVID-19 Related Legislation

On March 27, 2020, Ohio Governor Mike DeWine signed into law Ohio House Bill 197 (HB 197), which provides emergency relief to Ohioans during the COVID-19 pandemic. This legislation includes several tax provisions for individuals and businesses. To align. Read More >>