Ohio Real Estate Valuation

A property owner has three opportunities to appeal their property’s estimated fair market value. The first opportunity is by participating in an Informal Hearing with the County’s appraiser.  This is applicable in revaluation or update years which are specific for each county in Ohio.  This process typically takes place in the Fall of the year
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Finding Tax Shelter for Winter Storm Damage

How to qualify for casualty loss deductions If the national weather forecasters are right, we could be in for a brutal winter in many parts of the country. And even in areas that will not be especially hard hit, you still may suffer damage to your home or other personal property. Small consolation: At least
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Work for Yourself? Four Retirement Plan Options

Choices abound for self-employed individuals Thanks to several legislative changes over the years, self-employed individuals now have plenty of retirement plan choices on the table, just like the bigwigs in corporations, partnerships and limited liability companies (LLCs). Here are four popular items on the menu for self-employed individuals. 1. SEPs: Usually, a self-employed individual will
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Understanding Contract Costs

Too many times I hear from contractors that they don’t understand why they aren’t making more MONEY!  They are always busy, and have a great track record for winning bids.  They also show a great profit margin on their open job schedules.  But when I ask what their indirect allocation rate, or overhead rate is,
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How to Audit-proof T&E Deductions

Follow strict record-keeping rules Year in and year out, taxpayers claiming substantial deductions for travel and entertainment (T&E) expenses are prime audit targets of the IRS. This year should be no exception. But there is a way you can withstand any challenges on your return: Keep accurate records as required by the tax law. Here
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