Can You Get a Tax Break for Hiring Your Child in Your Business? If you own a business and have a child who's old enough to perform legitimate work for it, putting your child on the payroll can create an interesting tax-planning opportunity. Instead of giving your child money from your after-tax income, you may...Continue reading
Can Business Owners Claim the Paid Family Leave Tax Credit? If you own a business and provide paid family or medical leave to employees, there's a federal tax credit you may be overlooking. And beginning in 2026, there's an even more interesting question: Can you claim the Paid Family Leave Tax Credit when the person...Continue reading
Can an S Corporation Increase Your QBI Deduction? If you're a successful sole proprietor, you may already have heard one of the most common pieces of small-business tax advice: "You should consider becoming an S corporation." Usually, that conversation focuses on potentially reducing self-employment taxes. But for some higher-income business owners, there may be another...Continue reading
When you hear the words "home office deduction," what do you picture? Probably a spare bedroom with a desk, computer, filing cabinets and a door you can close. But what if you don't have a spare bedroom? Maybe you live in an apartment, condo or smaller house where every room already has a purpose. Does...Continue reading
If you've filed your tax return and find yourself checking your bank account every day, you're not alone. One of the most common questions taxpayers ask each year is, "Why is my IRS refund taking so long?" While many refunds are issued without any issues, there are several reasons the IRS may delay processing a...Continue reading
If you’ve taken the standard deduction for years, you’re not alone. But with recent tax law changes under the One Big Beautiful Bill Act (OBBBA), more people - especially higher-income taxpayers - are starting to ask: how do I know if I should itemize deductions? For many of Ken-Mar Tax’s clients, the answer is changing. And...Continue reading
With tools like ChatGPT and other AI platforms becoming more popular, a lot of people are asking the same question: Can I do my taxes with AI? On the surface, it seems like a great idea. It’s fast, it’s easy, and it’s often free. But when it comes to taxes—especially business taxes—the reality is a...Continue reading
Most people assume that when they have a serious tax problem, they need a tax attorney. In reality, that’s not always the case - and choosing the right type of help can save you a significant amount of money and stress. In Ohio, many tax issues can be handled effectively by an enrolled agent (EA)....Continue reading
If you and your spouse own rental property or run a business together, you may have set up an LLC for liability protection. That part makes sense. But then comes the next question: how are husband and wife LLC taxes handled—especially here in Ohio? This is where things can get confusing. And in many cases,...Continue reading
Most people believe this: “Once it’s been three years, I’m in the clear.” And in many cases, that’s true. But not always. There are situations where the IRS audit time limit doesn’t expire—and your return can come back years (even decades) later. Let’s walk through one of the biggest reasons why. When the IRS Audit Time Limit Doesn’t...Continue reading
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’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 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’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
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
Plain-English guide to OBBBA changes for 1099-NEC and 1099-K: what applies in 2025, what changes in 2026, and which states use lower 1099-K thresholds. The One Big Beautiful Bill Act (OBBBA) changed the thresholds for Form 1099-NEC and 1099-K. Here’s what applies for the 2025 tax year, what changes in 2026, and how state rules...
If you’re like many business owners operating as a one-shareholder S corporation, chances are you’ve done so to take advantage of Social Security and Medicare tax savings. But there’s another benefit that often flies under the radar—one that can offer serious liability protection without adding tax headaches: the S Corp subsidiary, also known as a...Continue reading
If you’re self-employed, you probably rely on your 1099-NEC forms to report income each year. But what happens when one of those forms is just plain wrong? It’s more common than you think—and it could mean overpaying your taxes or triggering an IRS notice. Common Scenario: Overstated Year-End Income Let’s say you billed a client...Continue reading
If you're a solo business owner who prefers the benefits of a Roth retirement account—but your income is too high to contribute directly to a Roth IRA—there’s a powerful tool you should know about: the mega backdoor Roth! This strategy allows you to invest up to $70,000 ($77,500 if age 50 or older) into a...Continue reading
If you’re a self-employed contractor, consultant, or realtor who took a major business loss this year, you may be surprised to learn that you can’t always deduct the whole thing on your taxes. A rule called the Excess Business Loss Disallowance might limit how much of that loss you can write off—at least this year....Continue reading