As we say goodbye to 2013, we would be remiss not to acknowledge the 100th Anniversary of the Form 1040 tax return.

Go through your house and garage and see what items you have not used in the last two years and donate them to charity. You can clean out space for all the new toys that are coming and receive a tax deduction for it!

The Ohio Department of Taxation owes millions in business tax refunds. Ohio Tax Commissioner Joe Testa said his agency is accelerating its outreach to businesses that inadvertently overpaid their taxes in order to make sure they are refunded every dollar owed to them.

This is the time of year in our CPA practice that we work with small business owners and individuals to perform tax checkups to help them project their tax liabilities for 2013 and make tax saving recommendations of moves that they can make between now and year-end.

That 18% service charge received for parties of eight or more will soon become taxable as wages subject to payroll taxes for food servers across the nation. Until now, these service charges were considered tips, and it was left to the wait staff to report them as income.

The Treasury Department and the Internal Revenue Service have loosened the “use it or lose it” rule for flexible spending arrangements for health care, allowing participants in health benefit plans to carry over up to $500 from their FSA from year to year.