Reinforce your cybersecurity defenses regularly
Unlike the lock to a physical door, which generally protects property for a long time, a business’s cybersecurity measures need to be regularly updated and reinforced. Most cyberattacks fall into two categories: ransomware and social engineering. In a ransomware attack, hackers infiltrate a company’s computer network, encrypt or freeze critical data, and hold that data hostage until their ransom demands are met. Meanwhile, social engineering attacks use manipulation and pressure to trick employees into giving up sensitive data or granting cyberthieves access to internal systems and bank accounts. Be sure to keep your cybersecurity policies, training methods and security measures up to date.
Qualifying Pass Through Entities Tax
On June 14, 2022, the Ohio governor signed into law a workaround for the $10,000 SALT deduction limitation imposed by the Tax Cut and Jobs Act of 2017. Qualifying Pass Through Entities (PTE), including S corporations and partnerships, may elect to pay Ohio income taxes at the entity level beginning in 2022. The election is […]
IRS continues work to help taxpayers; suspends mailing of additional letters
Source: IRS Website As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing […]
Polk & Associates TaxCaddy Software Update
Polk and Associates, PLC is excited to announce the utilization of TaxCaddy software to assist in the preparation of your individual tax return. If you have been utilizing our ShareFile software, expect a TaxCaddy invitation in the coming days. TaxCaddy simplifies tax time by allowing you to: Easily gather documents year-round by Uploading them from […]
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