Ohio Tax Talk: Don't Neglect The Business Income Deduction
By Christopher Tassone and Edward Rivin (February 9, 2021, 3:17 PM EST) -- It's that special time of year again: tax season.
When it comes to filing income taxes, many taxpayers and preparers focus their attention on federal income tax deduction opportunities, such as itemized deductions, business deductions and others, while failing to take full advantage of state-level deductions and incentives.
With tax season upon us, Ohio taxpayers should be aware of one special deduction that is too often forgotten or misunderstood — the Ohio business income deduction.
The Ohio business income deduction is a special deduction for Ohio taxpayers that can generate significant tax savings on an annual basis and, particularly, in years...
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