Debbie Petrone
InvestOhio Income Tax Credits
Ohio taxpayers and pass-through entities can now receive a nonrefundable credit for investments in certain small business enterprises operating in the State of Ohio. Qualifying investments include the acquisition of an equity interest in a small business after July 1, 2011, and cannot include funds from a grant or loan from a governmental source. In [...]
CORPORATE OWNED LIFE INSURANCE
Corporate-owned life insurance (COLI) is a life insurance policy on an employee, owner, or director’s life that is owned by the employer, with benefits paid to the employer. Corporate- owned life insurance was originally intended to hedge against the financial cost of losing key employees due to an unexpected death, the cost of training replacements, [...]
Successes with Social Media
I recently had the opportunity to hear Scott Monty, the head of social media for the Ford Motor Company speak on how Ford uses social media in promoting their automotive products. The talk was fascinating. As a person who has been pulled kicking and screaming into the brave new world of social media, I have [...]
Small Business Health Insurance Credit – Do You Qualify?
This credit is available to for-profit and nonprofit employers with fewer than 25 full-time equivalent employees with average annual wages of less than $50,000. Under the Patient Protection and Affordable Care Act, certain small employers will be eligible for a tax credit, provided they contribute a uniform percentage of at least 50% toward their employees’ [...]
S Corporation Compensation Pitfall
The federal budget deficit is projected to reach a record of $1.5 trillion in 2011 due to the weak economy, higher government spending, and new tax cuts. That being said, the government has to make up the deficit somewhere – and looking to existing tax laws is going to be a favorite place for the [...]
