Ohio Accounting Services, LLC

04/01/2020

If you're wondering about the individual stimulus checks, here is a quick update.

Treasury Secretary Steven Mnuchin said payments will go out "within three weeks" for people who have their direct deposit information on file with the IRS.

04/01/2020

Dear Clients -

The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website.

We strongly recommend that you:
-Review all four documents listed under the “Assistance for Small Businesses” section;

-Contact your local banker to discuss the lender guide to ensure they are aware of program requirements. While it is our understanding that virtually all banks and credit unions will be able to process program applications, you should verify that your bank intends to support the program;

-Also, under the lender guide, it lists accountants as approved agents of loan applicants. Our profession has not received any guidance on how to take in these loans, therefore we recommend that you work with your bank at this time.

As a reminder, funds from this program:
-Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;

-Are 100% forgivable if used for the above purposes; and

-Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.

As always, please contact us with any questions.

03/30/2020

How is the Coronavirus Aid, Relief and Economic Security Act (CARES) helping small business? Sign up to receive or pdf executive summary today. See how small businesses can get help during this turmultous time.

03/26/2020

We are still open and working for our clients during this troubled time. Our client's data remains secure and we do not anticipate any interruption in service. We will continue meet in person by appointment only but strongly suggest meeting virtually.

To our valued clients, our practice continues to be built on excellent client service and technical expertise. Our clients are our # 1 priority. Today, we find ourselves in an unusual position with the current health crisis surrounding the COVID-19 virus.  For the protection of our team and clients...

03/23/2020

Uehlinger, Tablack CPAs respects Gov. Dewine's stay at home order and have taken steps to allow all associates to work remotely from home. This means minimal impact to client deadlines and due dates. We pride ourselves on being a technology forward firm and can complete tax returns completely remotely without the need to meet face to face. Please call Bob at 216-282-3334 and we will coordinate secure transmission of your information and rapid completion of your tax return.

03/23/2020

The federal tax filing deadline is July 15, 2020.

Taxpayers getting a refund are encouraged to file their taxes now. Last tax season close to 72% of taxpayers received a tax refund close to $3,000, which for many taxpayers is their largest paycheck of the year. During times like this, that is much needed money for many households. The IRS expects to continue to process refunds as normal. The IRS typically issues nine out of 10 tax refunds within 21 days or less from acceptance with e-file and direct deposit – the fastest way to get your refund.

Relief for Individuals and Businesses with Taxes Due

The Treasury and IRS also recently announced the deferment of federal tax payments, interest free and penalty free, for 90 days, until July 15. Individuals and self-employed taxpayers can defer up to $1 million for tax year 2019 federal tax payments. This deferment also applies to tax year 2020 estimated tax payments previously due on April,15, 2020. Corporations can defer up to $10 million in federal payments.

How do I know if I qualify for the extended payment deadline? According to the Secretary of Treasury, anyone with a Federal Tax Payment related to their 2019 taxes and their tax year 2020 estimated tax payments due 4/15/20 can defer their tax payment, free of penalties and interest for 90 days for purposes of the relief.

What is a federal tax payment? When you file your taxes you either get a refund or owe the IRS money. If you owe, the amount you pay to the IRS is called a federal tax payment.
Deferment of federal tax payments means that if you owe money on your federal taxes, you will get more time to pay what you owe.

Federal Tax Update Regarding the Families First Coronavirus Response Act

On Wednesday, March 18, President Trump signed into law legislation to provide additional relief for taxpayers impacted by Coronavirus (COVID-19).

The COVID-19 legislation, called the Families First Coronavirus Response Act or H.R. 6201, includes relief for individuals, self-employed and businesses. Get the latest information on the Families First Coronavirus Response Act and what it means to you here.

03/17/2020

In order to continue social distancing, we will have client meetings by appointment only. Our goal is to have the fewest number of people in the office at a time. We have our staff working from home and do not anticipate any timelines being significantly impacted. To schedule a drop off or pick up please call your nearest office:

Alliance - 330-821-4490
Independence - 216-438-1040
Mansfield - 419-756-1366

03/12/2020

I don't ever think you'll ever catch lightning in a bottle like they did on the North End of Detroit Michigan. Happy Thursday!

REMASTERED IN HD! Explore the music of Smokey Robinson: https://lnk.to/0m6o4 For more Smokey Robinson news and merchandise: Classic Motown Website: https://l...

03/11/2020

The filing deadline is still April 15th. If you're worried about COVID-19 we can get your taxes completed and filed without you having to leave the house. Email [email protected] to start the process!

02/03/2020

There are some interesting QuickBooks add-ons out there. Here are 5 we help our clients with - schedule an appointment to see if any or all are right for you!

Not finding quite everything you need in QuickBooks Online? Here are some handy add-on apps available.

01/27/2020

Kobe Bryant was one of a kind. A competitor through and through. My favorite Kobe saying was that he'd go 0-30 before he went 0-12. He never stopped shooting, never gave up, the eternal optimist. We should all take that page out of Kobe's book.

01/06/2020

Some great ideas here for expanding businesses. Schedule an appointment to discuss further.

Your company is expanding -- and that's great! You've grown from one office to two, three, or even more. But you need to be able to manage all of them to continue to grow. Click through for some help in multi-office management.