Cincyblogs.com
Showing posts with label video. Show all posts
Showing posts with label video. Show all posts

Wednesday, May 28, 2014

Ode To Joy

Sabadell is a city in the Spanish province of Catalonia. Banco Sabadell was celebrating its 130th year anniversary, and it wanted to do something worthwhile and memorable for the citizens of the city. Banco Sabadell did.

This is an exceptional street performance. If it sounds familiar, it is because you are hearing Beethoven's Symphony Number 9 Ode to Joy.

We talk about tax here because we are a tax blog. However, tax is not life. Enjoy, and remember to laugh and smile as often as you can.


Thursday, August 15, 2013

Changes In Ohio Taxes Beginning In 2013



Ohio Governor John Kasich on June 30, 2013 signed Ohio House Bill 59, which made significant changes to Ohio taxes.  

Individual Income Tax Decrease
 Individual income tax rates will be cut 10% over three years.
The $20 personal exemption credit will be available only to taxpayers with Ohio taxable income under $30,000.
Sales Tax Increase
Effective September 1, 2013 Ohio’s sales and use tax rate will increase to 5.75% (from 5.5%)
Minimum Commercial Activities Tax (CAT) Increase
The Commercial Activity Tax (CAT) was previously $150 on the first $1 million in annual gross receipts, regardless of total annual gross receipts. The CAT tax on the first $1 million will now vary depending on the taxpayer’s total annual gross receipts. The new minimums are as follows:
  • $1 million or less in annual gross receipts – $150
  • From  $1 million to $2 million in annual gross receipts – $800
  • From $2 million to $4 million in annual gross receipts – $2,100
  • More than $4 million in annual gross receipts – $2,600
Please note that the above apply only to first $1 million in annual gross receipts. Receipts over $1 million will continue to be taxed at a 0.26 percent rate.
 Small Business Income Deduction
There is a new tax deduction for small business income starting in 2013. The deduction will be the lesser of $125,000 ($62,500 per spouse if filing separately) or 50% of the small business income includable in federal adjusted gross income.
 The deduction will apply to sole proprietors as well as to investors in passthrough entities.

The deduction will not be available to trusts and restates.
 New Ohio Earned Income Tax Credit
New for 2013, the new credit will be equal to 5% of the federal tax credit.
New Sales Tax on Downloads
Beginning in 2014, sales tax will apply on downloads of music, books and videos.