September 4th, 2020

On August 8, 2020, President Trump issued a Memorandum allowing employers to defer withholding and payment of an employee’s portion of the Social Security tax. Medicare taxes, however, are not covered. The payroll tax deferral is effective starting September 1, 2020. How does this affects employers and employees? APPLICABLE WAGES Applicable wages refer to wages paid to […]

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August 28th, 2020

The most important aspect of the Paycheck Protection Program is a borrower’s ability to have their loan forgiven if they meet certain criteria. Under the CARES Act, which created the PPP, one of those criterion was that, during their loan coverage period, the borrower had to maintain the same workforce levels they had prior to […]

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state house

August 21st, 2020

We at Tax Defense Ohio published an article a few weeks back on our own blog regarding the impact on next year’s tax filing if you received unemployment compensation. Well, the IRS published a news release confirming the importance of including unemployment compensation in your federal income tax return.  So, we wanted to share this […]

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August 7th, 2020

Is your school districts using a hybrid and/or remote learning model this fall? You can deduct certain expenses, such as classroom supplies and training to reduce the amount of tax you owe when filing next year’s tax return. You must be a kindergarten through 12th grade teacher, instructor, counselor, principal, or aide to qualify and […]

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