Navigating a Hearing at a County Board of Revision in Ohio: What to Expect for Your Property Tax Complaint

Navigating a Hearing at a County Board of Revision in Ohio: What to Expect for Your Property Tax Complaint

A hearing at a County Board of Revision in Ohio can be a daunting experience for property owners who are concerned about the amount of taxes they are paying on their property. However, with a little bit of preparation and knowledge of what to expect, you can feel more confident and in control of the process.

Important Steps

1. Introduction: Understanding the Purpose of a County Board of Revision Hearing
2. Preparing for the Hearing: Setting a Date and Gathering Evidence
3. Presenting Your Case: Submitting Evidence and Testimony
4. The County’s Presentation: Understanding the Assessed Value of Your Property
5. The Decision and Next Steps: The Outcome and Possibility of an Appeal

What to Expect

The first thing to keep in mind is that the purpose of a hearing at the County Board of Revision is to give property owners an opportunity to contest the value of their property as assessed by the county. This value is used to determine the property taxes that you will be required to pay. If you believe that the assessed value of your property is too high, you can file a complaint with the County Board of Revision to have the value reviewed.

When you file your complaint, you will be given a date and time for your hearing. This will typically be several weeks or months after you file your complaint, so it is important to plan accordingly. On the day of your hearing, you should plan to arrive at least 30 minutes early to allow yourself time to check in and get settled.

Presentation

During the hearing, you will be given the opportunity to present evidence and testimony to support your complaint. This may include documents such as property appraisals, sales records, or photographs of your property. You may also be able to call witnesses, such as real estate agents or property appraisers, to testify on your behalf.

The county will also have the opportunity to present evidence and testimony to support their assessed value of your property. This may include comparable sales data, photographs, or other information about your property.

Once both sides have presented their evidence and testimony, the County Board of Revision will make a decision on your complaint. This decision may be made immediately following the hearing, or it may be delayed for several weeks or months.

The Decision

If the County Board of Revision decides in your favor, the assessed value of your property will be lowered, and your property taxes will be adjusted accordingly. However, if the County Board of Revision decides against you, the assessed value of your property will remain the same, and you will be required to pay the taxes based on that value.

In either case, it is important to keep in mind that the decision of the County Board of Revision is not final. If you are not satisfied with the decision, you have the right to appeal to the State Board of Tax Appeals.

Overall, a hearing at a County Board of Revision in Ohio can be a complex and intimidating process, but with a little preparation and knowledge of what to expect, you can feel more confident and in control of the situation. Remember to gather all necessary evidence and testimony, arrive early, and be prepared to present your case in a clear and persuasive manner.

Conclusion

In conclusion, if you believe that the assessed value of your property is too high and would like to contest the value, filing a complaint with the County Board of Revision is the first step. The hearing is the opportunity for you to present evidence and testimony to support your complaint and for the county to present their evidence and testimony to support their assessed value of your property. Remember that if the decision is not favorable, you have the right to appeal the decision to the State Board of Tax Appeals.


More on Property Tax Appeals | Contact Us

Tax Deadlines Business Owners Need to Know for 2023

Tax Deadlines Business Owners Need to Know for 2023

As a business owner, staying on top of your tax obligations is crucial to avoid costly penalties and ensure compliance with federal and state tax laws. With different filing deadlines for various business structures and types, it’s important to know when your tax returns and estimated tax payments are due. Here are the key tax calendar dates to watch for in 2023.

1) Jan. 31, 2023: Provide Tax Forms to Employees and Contractors

As an employer, you must provide tax forms to any employees or independent contractors you hired the previous year. This includes W-2 forms for employees and 1099-NEC or 1099-MISC forms for independent contractors. The deadline for providing these forms to recipients is January 31, 2023.

2) March 15, 2023: Business Tax Returns for Partnerships, S Corporations, and LLCs

Another important date if your business is a partnership, S corporation, or LLC taxed as a partnership is March 15, 2023.  You must file your tax return by March 15, 2023, if you follow the calendar year. However, if your business’s tax year doesn’t start on January 1, you’ll need to follow the IRS fiscal year due date. This is also the deadline to file Form 2553 to elect S corporation status for tax year 2023.

3) April 18, 2023: Tax Returns for C Corporations, Sole Proprietorships, and Individuals

This is the deadline for C corporations, sole proprietorships, single-member LLCs or LLCs taxed as corporations, and individuals to file their tax returns. Additionally, this is the last day to make 2022 contributions to traditional and Roth IRAs.

4) Oct. 16, 2023: Extended Individual Tax Return Deadline

If you received a filing extension on your 2022 income tax return, your extended individual return is due on this date.

5) 2023 Quarterly Estimated Tax Payment Deadlines

If you’re self-employed or receive any form of income that requires you to pay estimated taxes, here are the estimated tax due dates for 2022:

  • April 15, 2023 – Deadline for 2022 Q1 estimated tax payments
  • June 15, 2023 – Deadline for 2022 Q2 estimated tax payments
  • Sept. 15, 2023 – Deadline for 2022 Q3 estimated tax payments
  • Jan. 15, 2024 – Deadline for 2022 Q4 estimated tax payments

Note that if any of the above dates fall on a weekend or federal holiday, the payment deadline falls on the next business day instead.

How to File a Tax Extension as a Business Owner

If you need more time to file your taxes, you can apply for a tax-filing extension. This extension will give you an extra six months to file your return. However, a tax extension only extends your filing deadline, meaning you still need to pay any estimated tax payments on your business’s tax deadline. Here’s how to file a tax extension for your business:

  • Sole proprietors can request a tax extension using IRS Form 4868.
  • Partnerships, S corporations, and C corporations can request an extension using IRS Form 7004.

Make sure to pay your estimated taxes on time to avoid any late fees!

In conclusion, staying on top of tax deadlines is essential for business owners. By keeping track of these key dates, you can avoid penalties and ensure your business stays in compliance with federal and state tax laws. If you have any questions or concerns about filing your taxes, don’t hesitate to consult with a tax professional or legal expert. Please call Brenden Kelley Law at 216-644-3359 so that we can assist you.


Connect with us: Business Law | Contact Us

Additional Resource: Read the IRS’ January 2023 Press Release detailing important information for this tax season.

The Best Entity and Tax Choices for Dental Practices

The Best Entity and Tax Choices for Dental Practices

One of the most crucial decisions when opening a dental practice is choosing the right entity and tax structure. What may seem like a simple task at first can quickly become overwhelming. There are many nuances and considerations that make it nearly impossible to select the default best choice. In this blog post, I have highlighted some practical options for small dental practices with one or two owners.

Avoid the Liability of Sole Proprietorships and General or Limited Partnerships

One of the easiest entities a person can form is a sole proprietorship. However, it offers zero protection from personal liability. That means if the business fails you’re personally on the hook. General and limited partnerships also have zero protection from personal liability.

Limited Liability Companies and Corporations afford the most protections.

For personal liability protection, it is best to form either a limited liability company (LLC) or a corporation. Both entities shield the owner(s) from the acts or omissions of the entity’s employees and other business operation liabilities. LLCs and corporations are both good choices when it comes to personal liability protection. However, they have different corporate formalities that must be followed. Corporations have more formalities, such as requirements to maintain minutes and have certain meetings, while LLCs do not have such obligations.

Understand the Tax Implications

When it comes to taxation, the entities have different requirements and implications. A partnership is a pass-through entity, which means all income, losses, and credits flow through to the partners’ individual income tax returns. However, partnerships must file a tax return even though the entity itself is not subject to tax. A C corporation is subject to double taxation, which means the corporation is taxed on all the business earnings, and those earnings are taxed again when paid out as dividends. An S corporation is subject to only one level of tax and can reduce the employment tax liability of the owners by managing their reasonable compensation in relation to the S corporation’s net-profit distributions.

For LLCs and corporations, the entities can be taxed as either a C corporation or an S corporation. However, if a dentist chooses a corporation as their entity, they must understand the corporation’s limitations in terms of tax flexibility from initial formation through to the sale of the dental practice.

Choose What Works Best for You

While there is no right or wrong answer when it comes to choosing the right entity and tax structure for your dental practice, there are clear pros and cons to each. Your choice will depend on various factors, including the number of owners, the number of dentists, business objectives, personal liability protection, and tax savings.

Consulting with an attorney to evaluate the options is a crucial step in making the best decision for you and your practice. Call our firm today at 216-644-3359 so that we can help you open your dental practice and protect your interests.


Connect with us: Dental Practices | Business Law | Contact Us

Explore Our Blog Posts for Dentists: Unlocking Legal Secrets: The Roadmap to Successful Dental Practice Acquisition and Consumer Law Issues for Dentists: What You Need to Know.

Additional Resource: For a comprehensive understanding of business structures, visit the Small Business Administration’s guide on choosing the right structure for your dental practice.