Can I Deduct the Same Things for Multiple Self-Employed Businesses? If you’re self-employed and run more than one business, this is a very common question — and a smart one to ask. You might have a main business plus a side business. Or maybe you operate two different ventures under separate names. Naturally, you start...Continue reading
If you receive tips as part of your income, you may have heard about the new IRS “no tax on tips” deduction and wondered whether it applies to you. It’s a significant tax break — allowing eligible workers to exclude up to $25,000 in tips from federal income tax — but not everyone qualifies. The...
If you’ve received a CCA letter, or a collection letter from Central Collection Agency (CCA), mentioning penalties, interest, or unfiled tax years, you’re probably wondering how bad this can get — and whether anything can be done about it. The short answer: yes, penalties are real, but they are often misunderstood — and in many...Continue reading
When business owners search for 2025 small business tax strategies, they’re usually not looking for gimmicks. They want to know what they can still do before year-end to legally reduce their tax bill and keep more cash in the business. Many of the most effective 2025 small business tax strategies are based on timing —...
Dog breeders often don’t realize how aggressively the IRS treats breeding activity. Under current tax law, dog breeding is frequently classified as a hobby, not a business — and that distinction can dramatically change your tax outcome. If the IRS considers your dog breeding a hobby, your income is still taxable, but most of your...Continue reading
When people think about 2025 tax strategies, they often imagine complicated loopholes or aggressive moves that don’t apply to real life. In reality, some of the most effective 2025 tax strategies come from everyday situations — getting married, getting divorced, having kids who help in the business, or supporting family members financially. As the year...
If you run your business as a corporation and you’re also an employee of that corporation, you may wonder whether you can claim a home office deduction. The answer is yes, but only if you handle it the right way. The IRS has strict rules about how corporate owners can deduct a home office, and...Continue reading
If you run your business as an S or C corporation and drive a vehicle titled in your personal name for company business, the way you handle reimbursements matters. Since the Tax Cuts and Jobs Act (TCJA) changed the rules for 2018 through 2025, there’s only one way to get the tax benefits you deserve...Continue reading
If you’ve just opened a letter from Central Collection Agency (CCA) and your first thought was “Is this a scam?” - you’re not alone. Many Ohio taxpayers reach out to us after receiving a CCA letter because they’ve never heard of CCA before. The letter feels official, urgent, and often references tax years from long...Continue reading
Recent tax law changes bring a mix of good and bad news for individuals who itemize deductions. Some popular deductions are gone for good, while others remain available with new limits. Understanding what changed—and what strategies still work—can help you stay ahead at tax time. The End of Miscellaneous Itemized Deductions Under previous tax law,...Continue reading
When tax season rolls around, many small business owners start Googling “small business tax preparation near me” and wonder whether they can handle it themselves. After all, accounting software and online filing tools promise to make it simple. But when it comes to business taxes, simple isn’t always smart. Doing your own business taxes might...Continue reading
When you search “small business accountant near me,” you’re probably hoping to find someone who can take tax season off your plate. But a good accountant does more than keep you compliant—the right one helps your business grow. At Ken-Mar Tax, we’ve seen too many small business owners wait until April to get help (or...Continue reading
The One Big Beautiful Bill Act (OBBBA) introduces a brand-new savings vehicle called Trump Accounts—tax-deferred investment accounts designed for children under 18. While some critics question their value, these accounts can be a smart long-term tool for families who plan strategically. Free Money for Newborns (Yes, Really) Under a pilot program, parents of U.S. citizens...Continue reading
The One Big Beautiful Bill Act (OBBBA) is shaking things up for charitable giving — and small business owners, realtors, and contractors need to pay attention. While there’s some good news, many of the new rules limit how much you can deduct. Let’s look at what’s changing and how you can make the most of...Continue reading
The One Big Beautiful Bill Act (OBBBA) has made headlines for locking in several parts of the 2017 Tax Cuts and Jobs Act (TCJA) — but thankfully, not the old $10,000 cap on state and local tax (SALT) deductions. If you live in a high-tax state or pay substantial property taxes, this change could make...
There’s a new sheriff in town, and he’s ready to do away with home energy improvement tax credits. If his plan succeeds, homeowners have only until December 31, 2025 to complete their upgrades and qualify for valuable federal credits. The clock is ticking — and understanding these rules could mean the difference between saving thousands...Continue reading
The One Big Beautiful Bill Act (OBBBA) made a big change for business owners: it permanently restored 100% bonus depreciation. This means companies can now fully deduct the cost of certain property in the year it’s purchased, instead of spreading the deduction out over decades. Along with this change, Section 179 expensing limits were increased,...Continue reading
When it comes to Ohio gambling winnings, the tax rules have always been strict. As we’ve explained in past articles about gambling tax laws, writing off losses, and reporting winnings, the IRS expects you to report every dollar you win. But under the One Big Beautiful Bill Act (OBBBA), things are about to get tougher...Continue reading
Thanks to recent tax law changes, the benefits of employing your child in your business are better than ever. While the One Big Beautiful Bill Act (OBBBA) eliminated personal exemptions, it also locked in a higher standard deduction that can create powerful savings for families who own businesses. The Standard Deduction Advantage For 2025, a...Continue reading
Should you file jointly or separately when one spouse is a sole proprietor, 1099 contractor, realtor, consultant, or new business owner? Short answer: filing jointly usually produces the lower total tax, but there are very real exceptions—especially with student loans, medical expenses, community-property states, and risk-management concerns. Here’s a simple, plain-English guide. How the business...Continue reading