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Tomko CPA had the opportunity to speak on 21 WFMJ local news this morning about a topic that’s often misunderstood: tax planning isn’t just for tax season—it’s a year-round strategy.

Click here to watch tax tips for small businesses!

Ohio Pass-Through Entity (PTE) Tax Election for Rental Real Estate Owners and Investors If you own Ohio rental real estate through an LLC taxed as a partnership, Ohio’s Pass-Through Entity (PTE) Tax Election (IT 4738) may offer a valuable tax-saving opportunity. How the Election Works Ohio allows pass-through entities, such as partnerships and s corporations, […]

For most real estate investors, an LLC taxed as a partnership is generally a better choice than an S corporation from a tax planning perspective. Why Do Partnerships Often Win? Debt Increases Basis: Real estate is commonly financed with loans. In a partnership, debt generally increases an owner’s tax basis, which can help maximize loss […]

As year-end approaches, professional service firms — whether consulting firms, law offices, or creative agencies — should take a proactive approach to tax planning to minimize their tax burden. This year brings significant changes with the introduction of the One Big Beautiful Bill Act (OBBBA), which includes key tax law extensions and new provisions that […]

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