Analytical Business Solutions - ABS

08/01/2024

Beginning at midnight on July 30 and extending through midnight on August 8, Ohio residents can enjoy a sales tax holiday on many purchases. In the past, the holiday was tied to back-to-school spending, but the rules have been expanded in 2024.

Eligible purchases include all tangible property which costs $500 or less. The threshold is on a per-item basis, so that if you purchase three $200 items, they are all excluded from sales tax, even though the total purchase is $600. Certain items do not qualify for the sales tax exemption, including alcohol, to***co, v***r products, and products containing ma*****na.

If you have specific questions, feel free to contact our office. You can also review some FAQs at the Ohio Department of Taxation website

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06/12/2024

https://governor.ohio.gov/media/news-and-media/governor-dewine-announces-expanded-sales-tax-holiday

On May 31, Governor Mike DeWine announced the 2024 expanded Sales Tax Holiday will take place from 12:00 a.m. Tuesday, July 30 until 11:59 p.m. Thursday, August 8.

In conjunction with the Ohio General Assembly, Governor DeWine expanded the length of Ohio’s Sales Tax holiday to 10 days and will allow tax-free purchases made in-person or online on all eligible items of up to $500.

“Ohio’s sales tax holiday, historically, has been meant to help families buy clothing and school supplies for the upcoming school year,” said Governor DeWine. “This expanded sales tax break will help Ohio’s families with back-to-school necessities as well as other substantial purchases during a time when so many household budgets are being strained.”

Previous sales tax holidays ran three days, included only school-related items, and offered much lower purchase price limits ($75 maximum on an item of clothing; $20 per item of instructional material and/or school supplies).

Ohio's sales tax holiday allows tax-free purchases made in-person or online. It does not include an exemption from sales tax for services or any purchase of watercraft, outboard motors, motor vehicles, alcoholic beverage, to***co, v***r products, or any item that contains ma*****na.

Governor Mike DeWine today announced the 2024 expanded Sales Tax Holiday will take place from 12:00 a.m. Tuesday, July 30 until 11:59 p.m. Thursday, August 8.

06/05/2024

We want to make you aware that the IRS, States, Cities and School Districts are charging penalties and interest for not making proper estimated tax payments. We have included a few of the more common agencies below. The thresholds and websites to learn more are as follows:

IRS – if you owe $1,000 or more you need to make estimated tax payments https://www.irs.gov/pub/irs-pdf/f1040es.pdf https://www.irs.gov/your-account

Ohio and School Districts - if you owe $500 or more you need to make estimated tax payments https://tax.ohio.gov/individual/resources/estimated-payments

Columbus - if you owe $200 or more you need to make estimated tax payments https://www.columbus.gov/Government/City-Auditor/Income-Tax-Division

Pickerington - if you owe $200 or more you need to make estimated tax paymentshttps://www.ci.pickerington.oh.us/cdn/2024-Estimate-Vouchers-Fill-in.pdf

RITA - if you owe $200 or more you need to make estimated tax payments https://www.ritaohio.com/Individuals/Faqs?category=I&subcategory=Estimates&questionID=1 #:~:text=Estimated%20payments%20may%20be%20required,the%20municipality%20where%20you%20reside

If you owed more than the threshold or if your income has increased for 2024, we recommend that you make estimated tax payments. The remaining due dates are June 17, 2024, September 16, 2024 & January 15, 2025. We would be happy to create the estimated tax payments for you to mail or you can make the payments online. Please remember to keep track of the amounts paid, the date and the check number or the payment confirmation for preparation of your 2024 tax return. Please let us know if you have questions.

Thank you and we appreciate your business!

Your friendly ABS staff

Check and manage your tax information with an IRS account. For personal and business taxes and tax professionals.

09/30/2022

Every year, Fairfield County sponsors a scavenger hunt of sorts based on imaginative scarecrows. ABS has decided to participate in 2022. Much thanks to my wife Rachel, who helped with much of the artistic heavy lifting and the setup. My partner Brian Landenberger added some finishing touches to the display today too.

https://visitfairfieldcounty.org/event-calendar/2022-fairfield-county-trail-of-scarecrows/

From the site above: Businesses, groups, organizations, and residents create scarecrows that are on display all over the area. You won’t want to miss a single one of these cute and clever displays that celebrate the Autumn Experience throughout the month of October.
Snap photos of your favorite scarecrows and post them on social media. Be sure to use . This self-guided experience is free and no reservations are necessary or required.

Please participate in the hunt! Be sure to stop by and visit Abe the CPA. His desk is outside our office, and he's ready to help with your extended tax returns! (Shameless plug: Remember to vote for him, if he's your favorite in Pickerington!)

07/27/2021

Do you need Payroll and Bookkeeping support so you can focus on driving revenue for your business? Are you sick of the headaches and delays associated with doing your own payroll and books? Tired of just being a number with the 'BIG" companies?

Then it's time for A Better Solution.

Our skilled team is ready to sit down with you to decide payroll procedures, handle tax filings, prepare checks, set up direct deposit, and more. We have a range of options we can work with, which will help you find the process that is most suitable for you and your company. ABS can answer any questions your team may have about payroll, taxes and deductions. Our staff will be certain that you and your employees receive the best possible service from a trusted, experienced and local provider.

Call or e-mail us today.

07/12/2021

Need help with payroll? We specialize in payroll services for companies with less than 50 employees! Call or email us and ask to speak with Jim.

Business owners come to find that payroll can be a complex and grueling process. There are numerous laws related to employee and government regulations for deductions and garnishments that must be followed during the payroll process. If you are unfamiliar with these rules or don’t have time to track your payroll, then it’s time to find A Better Solution.

06/29/2021

Happy after Tax Season.

Thank you to all of our valuable clients for your trust in us. As you know, the last couple of tax seasons have been very hectic and challenging. Together we learned and grew through the chaos to keep you compliant and able to realize all the benefits afford your companies. Now as you settle in to your summer it is the perfect time to evaluate your current business processes to determine what additional services you may need in the coming year.

ABS wants to be your personal advisor for all your business financial needs. Our team of certified QuickBooks Online ProAdvisors are here to analyze your Payroll needs and make recommendations to automate, streamline and secure your processes. If you are looking for "A Better Solution" to your payroll solution contact us today.

Enjoy your summer!

05/06/2021

Happy Thursday. Don't forget that the extended due date for filing your taxes in May 17th. ABS can file your extension if you need extra time. Come see us soon.

04/14/2021

Happy Wednesday, here are today's ABS Tax tips.

Remember to check the W4 information with your employer. With the new forms created after tax reform, your employer may be under-withholding your children over 16. When a child turns 17, the child tax credit becomes $500 (called Other Dependent Credit) instead of $2,000.

Also, there are situations in which teenagers work and have a significant amount of federal and state taxes withheld which most likely would be refunded if they filed their own returns but still had parents claim them as dependents.

In some cases, Married Filing Separately is more advantageous than Married Filing jointly. As a matter of procedure in preparing our clients' tax returns, ABS runs the calculations both ways to see which one results in the better tax advantage.

We look forward to seeing you soon.