The taxing authorities have delayed the due date for individual tax returns until May 17, 2021. But in many cases, this one-month extension did not give taxpayers or CPAs sufficient time to prepare the required returns. At this point, many taxpayers will need to file extensions for the returns that have not been completed. CPA…
If you drive around the local downtown area or keep up with the news, you will see ongoing efforts to improve buildings and properties in the City of Dayton and beyond. When I began working with commercial developers over 20 years ago, taking on an urban revitalization development project was not for the faint of…
The Treasury Department and the IRS announced recently that businesses with fewer than 500 employees might be eligible to take tax credits to offset paid leave provided to employees who received the Covid-19 vaccination. Self-employed individuals are similarly eligible to take the credits. The paid leave credits under the ARP are tax credits against the…
DEPARTMENT OF LABOR ISSUES GUIDANCE TO EMPLOYERS ON AMERICAN RESCUE PLAN ASSISTANCE ACT COBRA SUBSIDY- DEADLINE FOR EMPLOYERS MAY 31, 2021 On April 7, the Department of Labor issued guidance to employers regarding the new COBRA subsidy under the American Rescue Plan Assistance Act (ARPA). Premium assistance is available to employees who previously incurred…
In early April, the Ohio Department of Health (ODH) Director issued new Orders for Social Distancing, Facial Coverings, and Non-Congregating. The new Order replaces several previous orders. Below a summary of some of the provisions: Restaurant, drinking establishments, and banquet facility tables must be 6 feet apart and seat no more than ten people per…
Call them what you will; installment contracts, installment land contracts, or land contracts occur when a real estate owner agrees to convey title sometime in the future in exchange for monthly payments or installments. I’ve heard some liken them to rent-to-own contracts, which can make the concept more accessible. When two parties enter these agreements,…
The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used…
Gaby Neal volunteered at the Volunteer Lawyers Project in Dayton today. She spent time helping indigent residents complete divorce paperwork. Gabi says, “It’s not my regular area of practice, but it’s an area of need, and I’m happy to help.”
Congratulations to Jeff Senney for being recognized as a Lawyer of Distinction in 2021. You have joined a group that includes some of the most influential and respected attorneys in the US. If you would like to congratulate Jeff or discuss any legal needs, please call him at 937.223.1130 or email jsenney@pselaw.com.
Senator Bernie Sanders (D-VT) introduced legislation that, if passed, would have a significant impact on the transfer tax system of the United States. The proposed legislation includes the following changes: Estate tax exemptions of $3.5 million Gift tax exemptions of $1 million $20K annual gift tax exclusion 50-year limit on Generation-Skipping trusts (GST) Grantor…
