Posts on Jan 1970

New Ohio Business Grant Applications Open June 29, 2021

On June 29, 2021, the Ohio Development Service Agency will begin accepting applications for four new grant programs designed to help small businesses impacted by the pandemic. 1 – Food & Beverage Establishment Grant: This grant provides up to $30,000 to restaurants, bars, coffee shops and other food and drinking businesses affected by the COVID […]

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Updates to Child Tax Credit – FOR 2021

With the passage of the American Rescue Plan comes changes to the Child Tax Credit for 2021. There are several elements to the changes for this credit. Maximum credit – The maximum credit in 2021 is $3,600 for children under the age of 6 and $3,000 for children ages 6 through 17.  This increased from […]

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Ohio – Unemployment Compensation Exclusion

If you received unemployment compensation and you qualify to exclude up to $10,200 of these benefits on your federal tax return, you will be able to exclude the same amount on your Ohio tax return. If you filed your federal and Ohio tax returns without claiming the unemployment benefits deduction and you are entitled to […]

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Unemployment Compensation Exclusion

On March 11, 2021, the American Rescue Plan was signed into law.  Included in this plan was a provision that exempted up to $10,200 of unemployment benefits for eligible taxpayers(a).  For those taxpayers who qualify for this unemployment exclusion, but filed prior to the enactment of the American Rescue Plan, the IRS has asked taxpayers […]

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