PRP & Associates

A new executive order has been passed that changes how you pay the IRS. Read more below.

Say goodbye to checks. IRS now requires electronic payments | Paul Pahoresky In a move to make payments more efficient and to reduce the risk of fraud, the federal government is changing both how they receive taxpayers’ payments as well as how they make payments to others. …

https://www.news-herald.com/2025/07/26/2025-ohio-sales-tax-holiday-bigger-and-better-paul-pahoresky/

2025 Ohio Sales Tax Holiday bigger and better | Paul Pahoresky Ohio introduced a sales tax holiday a number of years ago that was primarily targeted toward school supplies and other items for school-aged children. Originally this was for one weekend in early …

How long should you keep tax documents? | Paul Pahoresky My wife and I recently moved homes in the area. As part of the moving process, we had to purge a lot of stuff that we no longer used. Our kids are now essentially grown up and moving is a good opp…

Is it a hobby or a business? | Paul Pahoresky If you are like me and many of my clients you may be involved in some activity beyond your normal primary income source. Maybe you do some woodworking like I do, or possibly got involved in a multi…

IMPORTANT ANNOUNCEMENT:🚨

The Benefit Ownership Information (BOI) report has been reinstated. The new filing deadline is March 21, 2025. This is a crucial requirement under the Corporate Transparency Act, enforced by FinCEN. Ensure your compliance to avoid any harsh penalties.

Who needs to file?

-Corporations
-Limited Liability Companies (LLCs)
-Other similar entities created by filing a document with a secretary of state or similar office under the law of a state or Indian tribe.

Please contact our office to help with any other questions or to help with your filing. 💻✨

Stay compliant and keep your business running smoothly!

There is still time to save on your 2024 taxes. Click below to read Paul's tax saving tips.

Still ways to save on 2024 income taxes | Paul Pahoresky We are into 2025, and the tax-filing season is open. Our firm has begun preparing both business and personal tax returns for 2024. However, despite the calendar year changing to a new year, there a…

Year-end tax strategies | Paul Pahoresky As 2024 winds down to its final days there are still a number of steps that can be taken prior to the end of the year that can help reduce your 2024 tax liability. However, for many of these you mu…

It's that time of year when you might consider gifting money to a friend or relative. Read the article below where Paul discusses what may be required from a tax perspective.

What are gift taxes? | Paul Pahoresky With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes…

Is it the Federal or Corporate Transparency Act? And when was it created? 🤔 Let’s set the record straight!

Unclaimed funds: Do you have money out there? | Paul Pahoresky The Ohio Treasury wants Ohioans to recover money that is rightfully theirs. Every year 200,000 Ohioans lose track of their funds. They either put money in financial institutions and forget about it…

When the boss says, "We're taking the afternoon off to do something fun," you listen! Such a fun day getting to shop at B.A. Sweetie Candy Company, followed by ice cream, and a round of Putt-Putt Golf. 🍭🍨⛳️

Check out Paul's advice below to learn why hiring a professional to handle your tax preparation is essential.

No license needed to prepare tax returns | Paul Pahoresky Recently our firm landed several new clients. Thankfully this happens on a regular basis. When we land a new tax client one of the first things we want to do is to get a copy of the most recent ret…