If you’re buying equipment, a vehicle, or making improvements to your business, you’ve probably heard about bonus depreciation and Section 179. Both can help you write off large purchases and reduce your taxes - but they don’t work the same way. And choosing the wrong one can cost you more than you think. So what’s better:...Continue reading
If you’re self-employed, missing a tax deadline isn’t just an inconvenience - it can mean penalties, interest, and unnecessary stress. That’s why understanding the important tax dates for self-employed business owners is critical. < Download Your 2026 Self-Employed Tax Calendar > Now that the main tax deadline has passed, this is actually one of the...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
If you’ve been using a vehicle for your business and you’re thinking about switching it to personal use, you’re probably wondering: can I change a vehicle from business use to personal? The short answer is yes - but the tax impact depends on how you’ve been using and deducting that vehicle. And if you don’t understand...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
Yes—there can be. And in the right situation, it can be a pretty meaningful one. Most people are familiar with the idea of putting their kids on payroll to save on taxes. That works well in some cases. But if your child is older, or your business isn’t set up the right way, that strategy...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
Starting in 2026, there’s a new opportunity for small business owners that a lot of people are going to overlook: a significantly expanded childcare tax credit for small business. On paper, it sounds straightforward. But once you start applying it to real-life situations—especially when you’re self-employed or working with your spouse—it gets a little more...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
If you own rental property and you’re thinking about selling, there’s one strategy you should at least understand before you do anything: The 1031 exchange. Done right, it allows you to sell a property, reinvest the money into another property, and defer paying taxes—sometimes for years. Let’s walk through how it works, what the key 1031 exchange...Continue reading
If you’ve been taking the home office deduction, you may have heard something like this: “Don’t take depreciation—it’ll come back to bite you when you sell your house.” It sounds logical. Nobody likes the idea of paying taxes later. But here’s the problem… skipping home office depreciation can actually cost you more than it saves. Let’s walk through...Continue reading
If you're self-employed, you've probably asked yourself at some point: “Can I write off my work clothing?” It seems like a reasonable question—especially if you're buying clothes specifically for your job. But when it comes to taxes, this is one of those areas where the rules are stricter than most people expect. Let’s walk through what actually...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 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...
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
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