Sussman & Addis, CPAs

09/02/2026

💰 Trump Accounts Are Starting to Receive an Extra Boost!

Michael and Susan Dell have committed $6.25 billion to fund $250 contributions to Trump Accounts for up to 25 million eligible children. We are starting to see these funds deposited into eligible accounts!

The Dell contribution generally applies to children age 10 or younger who:

✅ Have an established Trump Account
✅ Live in a ZIP code with a median household income of $150,000 or less
✅ Are not eligible for the federal government’s separate $1,000 contribution

The $250 will be deposited automatically into qualifying accounts. Families do not need to apply separately for the Dell contribution. Once invested, that money has years to grow alongside any additional contributions made by parents, relatives or employers.

If you have an eligible child but have not yet established a Trump Account, now is a good time to learn more.

https://trumpaccounts.gov/

08/20/2026

🚨 BOI REPORTING HAS OFFICIALLY LEFT THE CHAT 🚨

It's been awhile since we have discussed our friend, BOI...

After deadlines, delays, court cases, rule changes, more delays, and enough plot twists to qualify for its own Netflix series…FinCEN has made it official - BOI reporting requirements for U.S. companies are permanently gone! And previously reported information will be deleted.

Yes. Permanently this time.

Small business owners everywhere: 🥳
CPAs who spent countless hours adapting to never-ending changes: 😐
The BOI reference materials we carefully saved: 🗑️

Because we're CPAs and there is *always* a footnote: certain foreign entities registered to do business in the U.S. may still have BOI reporting requirements.

For everyone else, may BOI reporting rest peacefully alongside fax machines, paper tax forms, and our hopes for a simple tax code. 🪦

08/12/2026

📢 Ohio CAT Filers: A System Change Is Coming

The Ohio Department of Taxation has announced that Commercial Activity Tax (CAT) accounts will transition from the Ohio Business Gateway to OH|TAX eServices beginning December 7, 2026. This migration is part of the state's continued effort to consolidate tax administration into a single online platform.

What this means for businesses:
✅ CAT returns and payments will be managed through OH|TAX eServices
✅ Businesses should ensure they have an active OH|ID account before the transition
✅ Additional tax types will also move to the new system as Ohio expands the platform's capabilities

While December may seem a long way off, now is a good time to confirm your account access and be prepared for a smooth transition.

If you have questions about your Ohio Commercial Activity Tax obligations or need assistance navigating the new system, Sussman & Addis, CPAs is here to help.

08/06/2026

IRS Increases Standard Mileage Rate for the Remainder of 2026

The IRS has announced a mid-year increase to the standard mileage rate due to higher fuel costs. If you use your personal vehicle for business, this change could impact your tax deductions and employer reimbursements.

Effective for travel from July 1 – December 31, 2026:
✅ Business: 76¢ per mile (up from 72.5¢)
✅ Medical & qualified moving: 23.5¢ per mile (up from 20.5¢)
✅ Charitable: 14¢ per mile (unchanged)

Because this is a mid-year adjustment, you'll need to separate your mileage:
• January 1 – June 30: 72.5¢ per business mile
• July 1 – December 31: 76¢ per business mile

Accurate mileage logs are more important than ever to ensure you're using the correct rate for each period. An arbitrary mileage number doesn't work for the IRS!

If you have questions about how this change affects your business or tax return, the team at Sussman & Addis, CPAs is here to help.

07/31/2026

📢 Ohio Sales Tax Holiday Is August 7–9

Don’t Let It Create a Sales Tax Headache

Ohio's Sales Tax Holiday runs August 7–9, 2026, and many businesses can expect a surge in sales during the tax-free period.

While individuals flood the stores to take advantage of the tax savings, retailers need to ensure separate and accurate tracking. Sales that qualify for the exemption should not be included in your taxable sales calculations, and poor recordkeeping can lead to overpaying Ohio sales tax when it's time to file your return.

Before the holiday begins:
✅ Verify your POS system is correctly applying the exemption
✅ Train employees on qualifying purchases
✅ Maintain detailed sales reports for August 7–9
✅ Reconcile exempt sales before filing your sales tax return

Good records help ensure you collect the correct amount of tax, report it properly, and avoid paying more than you owe.

For more info: https://lnkd.in/gJCP-JDA

Questions about Ohio sales tax compliance or sales tax reporting?

Sussman & Addis, CPAs can help.

07/10/2026

💍Is Love in the Air?

Getting married is one of life's biggest milestones but before you head off into happily ever after, make sure your tax situation starts off on the right foot too!

Here are a few important items newlyweds should take care of before next tax season:
❤️ Update your name with the Social Security Administration if you've changed it.
🏡 Report a new address to the IRS, your employer, financial institutions, and the post office if you've moved.
💰 Review your W-4 withholding. Two incomes can change how much tax should be withheld from your paychecks.
📑 Choose the right filing status. Married Filing Jointly is often the better option, but not always. It's worth comparing both methods.
📂 Combine your tax records. Keep W-2s, 1099s, and prior-year tax returns organized in one place.
🎯 Don't miss valuable tax benefits. Marriage can change your eligibility for certain credits and deductions.

Marriage is about building a future together and that includes making smart financial decisions from day one.

If you recently tied the knot (or are planning a wedding this year), we're happy to help you review your tax situation before filing season arrives.

Sussman & Addis, CPAs
📞330-334-3641
🌐susscpa.com

Helping you navigate every stage of life-one tax season at a time.

07/07/2026

We’re honored to share that Sussman & Addis, CPAs has been named a finalist in the Medina Gazette's Best of the Best Contest! 🎉

Thank you to our clients, friends, and community members who nominated and supported us. Being recognized alongside so many outstanding local businesses is truly appreciated.

🏆 Final Round Voting Begins today, July 7th

If you’ve trusted Sussman & Addis with your tax, accounting, or advisory needs, we would be grateful for your vote during the final round. The Medina Gazette's Best of the Best program recognizes outstanding businesses throughout Medina County, with finalists advancing to the public voting stage.

🔗 Vote here July 7-15:
https://medina-gazette.com/live-content/best-of-the-best/ #/gallery?group=551998

Thank you for allowing us to serve Medina County's individuals, families, and businesses. Your support means everything to our team.

Medina Gazette presents Best of the Best for several different categories including Arts and Entertainment, Food and Dinging, and more!

07/06/2026

As of July 4, 2026, Trump Accounts are officially active, and eligible families can now begin making contributions. At launch, all contributions are automatically invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM), a low-cost index fund that tracks the performance of the S&P 500. Treasury has indicated that additional investment options are expected to become available in the future.

If you're considering contributing on behalf of a child or grandchild, now is a good time to understand how these accounts work and how they may fit into your family's long-term financial plan.

Have questions about eligibility, contribution limits, or how Trump Accounts compare to other savings options? Our team at Sussman & Addis, CPAs is here to help.

06/23/2026

Starting a Business? Don't Make These Costly Setup Mistakes.

One of the biggest misconceptions among new business owners is that they can "figure it out later." Unfortunately, the decisions made during the startup phase can have tax, accounting, and operational consequences for years to come.

At Sussman & Addis, CPAs, we regularly meet with business owners after they've already launched, and we often see issues such as:

• Choosing the wrong entity type for their goals and tax situation
• Mixing personal and business finances because no separate business bank account was established
• Arriving at tax time with a box full of receipts and no bookkeeping system (please stop this🙄)
• Operating as a sole proprietor while running payroll and paying themselves wages incorrectly
• Waiting until after the first year of business to think about tax planning
• Missing opportunities to reduce taxes because the business wasn't structured properly from the beginning

The good news? Most of these issues are preventable.

Before you start your business, invest time in building the right foundation and team. The proper entity structure, accounting processes, banking setup, and tax strategy can save significant headaches, and money, down the road. Invest in your team - CPA, Lawyer and Financial Planner work to protect your past, present and future.

Thinking about starting a business? Let's have the conversation before you open your doors.

💰Sussman & Addis, CPA
📞 330-334-3641
📧 [email protected]

06/16/2026

📣 Trump Account Activation Emails Are Rolling Out

If you signed up for a Trump Account by submitting IRS Form 4547 or at trumpaccounts.gov, keep an eye on your inbox. The U.S. Treasury has begun sending account activation emails to parents and legal guardians who previously enrolled their children in the program. These activation emails will be sent in phases leading up to the official launch date of July 4, 2026.

✅ What to do next:
-Watch for an email from [email protected]
-Follow the instructions to activate your child's account
-Complete the setup process through the official Trump Accounts app or website
-Be cautious of scams-Treasury has indicated that activation communications are currently being sent only by email.

Starting July 4, 2026, eligible accounts will be able to receive contributions from parents, family members, employers, and other approved contributors. Eligible children will also begin receiving the program's $1,000 Treasury contribution at that time.

If you have questions about eligibility, contribution limits, or how Trump Accounts fit into your family's financial plan, contact the team at Sussman & Addis, CPAs. We're here to help you understand the tax and financial implications of this new savings opportunity.