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Why You May Want to Rethink Your Deduction Strategy in 2025
As we approach the end of 2025, it's time to evaluate your year-end tax planning strategies. One important decision is...
Submitted By: Julie A. Stanislaw on Jun 14, 2024 4:07:04 PM
This year, Ohio is expanding its sales tax holiday from 12:00 a.m. Tuesday, July 30, through 11:59 p.m. Thursday, August 8.
Not only will this year’s holiday run longer, the guidelines include more items that are eligible for purchase and higher price limits on items that will not be taxed.
Previous holidays ran for three days and were limited to back-to-school related items, including clothing of $75 or less, and school supplies and instructional materials of $20 or less.
During the 2024 holiday, the sales tax exemption will apply to all goods that are $500 or less (except for certain watercraft, motor vehicles, alcoholic beverages, tobacco and vapor products or any item containing marijuana).
More information about Ohio’s 2024 sales tax holiday is available by visiting the Ohio Department of Taxation’s Frequently Asked Questions pertaining to the Sales Tax Holiday.
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Many owners of pass-through businesses and self-employed individuals have taken advantage of the Section 199A qualified...