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HW Co
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Conversations That Change Everything
Conversations That Change Everything

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New Ohio Municipal Withholding Payment Rules
George Timoteo, CPA Senior Manager timoteo@hwco.com The enactment of Ohio
House Bill 5 became effective January 1, 2016, and with this law came a large
number of city income tax rule changes.   One seemingly minor change not widely publicized is the due dat...

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Public
Beware of New Phishing Schemes
Cathy Robinson, CPA Principal robinson@hwco.com   Cybercriminals are continuing to attempt to get personal
information from individuals.   Here is
the latest scheme the IRS has shared.   The cybercriminals are emailing payroll and human resource employees
p...

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Don’t Forget to Consider the Ohio Business Income Deduction
Cathy Robinson, CPA Principal robinson@hwco.com   Beginning in 2015, Ohio has increased the benefit to
taxpayers for the Ohio Business Deduction.   A business will receive up to 75% deduction on
their first $250,000 of business income. This means up to $187...

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Lease Accounting Standard and Private Companies
Anthony LaNasa, CPA, CFE Managing Principal - Columbus lanasa@hwco.com   The U.S. Chamber of Commerce and other trade groups are
trying to get the new lease standard expected to be published this month
exempted from Private Companies.  In a January 29, 2016...

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Check your Mailbox - Another IRS Data Breach
    Cathy Robinson, CPA Principal robinson@hwco.com   Last month, the IRS stopped identity thieves from
attempting to generate E-file PINS for stolen Social Security Numbers.   The PINS are used to efile a tax return.   There were 101,000 Social Security Nu...

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Good news for charitable donors!
Cathy Robinson, CPA Principal robinson@hwco.com   The IRS has withdrawn proposed regulations regarding the
reporting of donor information.   The
proposed regulations would have allowed charities to file information returns
about donors instead of providing ...

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The Research credit has been permanently extended.
Cathy Robinson, CPA Principal robinson@hwco.com     Research and development credits were originally
implemented to create jobs and bolster the U.S. position as a leader in
technological development. It is also important to note that the name can be
mislead...

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New Employee or Independent Contractor?
  Cathy Robinson Principal robinson@hwco.com   As the new year begins, you may be contemplating an
addition to your company.   The thought
crosses your mind about not putting them on payroll, but paying them as an
independent contractor.      Be aware this ...

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Additional information from last week’s post on documentation needed for charitable deductions
    Cathy Robinson Principal robinson@hwco.com   Last
week, I covered documentation you will need to report charitable deductions you
have taken during the year. This week, consider additional, accompanying
documentation which if you receive it, you will ne...

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What Documentation Do I Need for a Charitable Contribution Deduction?
  Cathy Robinson, CPA Senior Manager robinson@hwco.com You have made your charitable contributions during the
year, now it is time to gather them for your tax return preparation.   What documents do you need to retain? The IRS requires the donor maintain ei...
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