Ohio recently joined 28 other states who have enacted the “SALT Cap Workaround” with Governor DeWine’s signing of Senate Bill 246. What does that mean for you?
Now is the time for companies to be proactive, rather than reactive, on their SALT compliance so no surprises come about from a potential audit.
While side hustles bring many rewards, turning that side hustle into a real business can bring even more. So, when is it time to legitimize a side hustle? Regardless of whether a person has been doing it for years, or has just started making money, they must report income earned even from hobbies on their tax return. Why not benefit the various tax advantages awarded to business owners?