Elliot Kravitz, ATP

Tax Preparer
President & Founder at EMC Financial Management Resources, LLC
Cincinnati Ohio 45241

513-229-0086 Click to dial

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"State of the Art Personal Service"

Contact Details

  • Business
  • EMC Financial Management Resources, LLC
  • Logo
  • EMC Financial Management Resources, LLC Company Logo by Elliot Kravitz, ATP in Cincinnati OH
  • Position
  • President & Founder
  • Year Established:
  • 1983
  • Online Social Profiles
  • Phone Number
  • 513-229-0086
  • Location
  • 300 E Business Way
    Suite 200
    Cincinnati, OH 45241
    United States of America

Professional Background

  • Hours of Operation
  • By Appointment
  • Accepted Forms of Payments
  • Check, Visa, Mastercard, Amex, Discover, Debit Card
  • Fee Structure
  • Fees are based on services performed either on an hourly basis OR in the case of tax preparation based on bundled package.
  • Credentials
  • Accredited Tax Preparer, ATP
  • Honors & Awards
  • "2017 Top 100 Tax Professionals" nationwide by Taxbuzz
    "2016, 2017, 2018 Best Tax Services in Cincinnati" by Expertise.com
    "2017 Best of Thervo"
    "2016 Thumbtack Pro"
    "2008, 2009 Five Star Wealth Manager" as appeared in Cincinnati Magazine

More About Elliot Kravitz, ATP

Elliot Kravitz has been providing award-winning service for more than 30 years. At EMC we help you simplify the business of life. Spend less time and gain more control over the financial management of your business. It's a snap, using state-of-the-art technology, it's as simple as taking a picture of a receipt... done. Payroll in 2 clicks, access your books from any device anywhere you have internet access, it just doesn't get any easier than this. 


Tax Planning & Preparation Since 1983 - Elliot Kravitz, was awarded "Best Tax Services in Cincinnati" for 2016, 2017, and 2018 by Expertise, and "2017 Five Star Tax Service" by Thervo. Elliot Kravitz was also voted Five Star Wealth Manager - Cincinnati Magazine 2008 & 2009. Call us today to find out more about our State-of-the-Art Personal Service for the individual and small business entrepreneur. We offer comprehensive tax planning & preparation, payroll, and bookkeeping services for the individual and small business entrepreneur markets.


As a Certified QuickBooks ProAdvisor Elliot Kravitz can help you assess your needs and develop a scalable system that is designed just for your business. Elliot can help you use the latest technology to reduce the amount of time spent on managing your business. At EMC Financial we offer a variety of options to help you succeed.


Elliot Kravitz is an Accredited Tax Preparer, The Accreditation Council for Accountancy and Taxation® (ACAT) was established in 1973 as a non-profit independent testing, accrediting and monitoring organization. The Council seeks to identify professionals in independent practice who specialize in providing financial, accounting and taxation services to individuals and small to mid-size businesses. Professionals receive accreditation through examination and maintain their accreditation through commitment to a significant program of continuing professional education and adherence to the Council's Code of Ethics and Rules of Professional Conduct. 

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Elliot Kravitz, ATP Member Articles


What is the Allowable Deduction From Business Income and Can You Claim It?

The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...


IRS Issues Dollar Limits for Passenger Automobile Depreciation in 2020

The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...


Advance Payment for Goods and Services

There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...


How To Start a Business and What it Means For Your Taxes

Starting a business can be an exciting new adventure for those with an idea who wish to be self-employed.  There are several things to consider, however, when you are opening...


Reinvested Dividends

One of the most popular forms of investment is dividend investing. Dividends provide a smooth income stream to investors. You have two options when the dividend accumulates on a stock....


Changes to Contribution Limits

Thanks to the Internal Revenue Service's (IRS) cost-of-living adjustment, you can save more money on retirement plans and health savings accounts (HSAs) by 2020. This year, good...


When to Use Form 1040

Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...


Simple Ways to Have A Worry-Free Retirement As a Woman

Women tend to worry a lot about retirement. This is not surprising as women tend to live longer, and they typically need more health care plans compared to men. This makes it essential...


Factors Affecting the Mortgage Interest Credit

For everyone buying a home via financing, the mortgage interest rate has a huge impact. Mortgage borrowers, however, are interested in the lowest rate possible. Yet, money lenders...


Alien Clearance (Sailing Permit)

Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...


What is the Internal Revenue Code (Title 26)

The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...


1031 Exchange Rules: Everything You Need to Know

1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...


Death Benefits Available to Surviving Veteran Family Members

There are two distinct programs that pay Veteran Survivors some form of benefits as long as their death is connected to service. These benefits are dependence and indemnity compensation...


Tax Saving Strategies for Small Businesses

The Internal Revenue Code is configured to offer numerous tax reductions to individuals and businesses. Even the IRS recognizes that you have to save money to live and manage your...


How to Track Your Refund With the IRS

Almost everyone is eager to know when they will have their refunds from the IRS. Thanks to technology, you can track this online and know its status. The IRS' 'Where's...


Six Things to Know About Self-Employment Tax

The number of people that employ themselves is rising. This includes freelancers, gig workers, small business owners, and startup finders. It is not surprising that this sector is...


Good Debts / Bad Debts: Using Your Credit Wisely

We all come to points in our life when we have to borrow money. It could be student loans to finance your education, mortgage to buy a house, or loan for your first vehicle. It could...


Five Practical Tips for Dealing With Back Taxes

Taxes that you did not pay for years are called back taxes. These taxes are due for at least a year and come with interest and penalties until paid. Many people owe back taxes and...


Understanding the Paycheck Protection Program: Qualification and How to Apply

The paycheck protection program is a product of the CARES Act. It is available to business owners via institutions like the bank of America. It allows businesses to borrow money and...


What You Need to Know about Setting Up Medical Power of Attorney

Your estate planning is not completed without the medical power of an attorney. Also called the durable power of attorney, it is a legal document that authorizes someone to take some...


Smart ways to Maximize your Inheritance

When you receive an inheritance, regardless of the amount, you need to understand how to get the most out of it. Depending on who left you the inheritance, you may have different emotions...


Top Tax Breaks Rejected by the IRS

Everyone wants to cut taxes, but sometimes people try too hard. Over the years, taxpayers have presented many foolish arguments to justify their tax incentives. We had put together...


Options For Student Loans Right Now

Debts come in many forms. This explains why we have good debs and bad debts. We can classify student loans as good debt, while credit card debt fits the category of bad debts as it...


New Required Minimum Distribution Rules For 2020 Retirement Account

Saving for retirement is mandatory, and there are some retirement accounts in which users enjoy tax breaks for having money in their retirement account. Examples are 401(k)s, IRAs,...


Finding Solutions to Your Retirement Worries

A possibly rewarding and calming period of a person’s life is retirement. A new set of challenges arise as the transition began and this could lead to nervousness or feeling...


Beware of Social Security Texting Scams

Voice mails and robocalls are not the scammer’s only option now, they also use the texting strategy. A warning about a new scam that appears to come from Social Security through...


The Five Main IRS Tax Rules for Legal Settlements

Leaving the winning side of a lawsuit as a plaintiff can be a rewarding feeling, especially if it's a financial deal. There will likely be a sense of relief and demand. Unfortunately,...


Which States Are Less Tax-Friendly In The United States?

Everyone wants a less tax-friendly bill. One way to do this would be to live in a state with no income tax. As of 2019, seven states; Florida, Alaska, Nevada, Texas, South Dakota,...


Auditing rules for Partnership – What you need to know

In 2015, Congress adopted a centralized audit regime for the partnership (the partnership audit rules) that assesses and collects federal taxes due to a partnership-wide audit entity....


The basics of base erosion and anti-abuse tax. How does it work?

What is the TCJA charge against base erosion and anti-abuse tax, and how does it work?Base-Erosion and Anti-Abuse Tax (BEAT), a new tax under the Tax Cuts and Job Acts (TCJA), limits...


Advantages Of The Railway Office Pension

The Railway Retirement System is a national retirement program for American railway workers. Understanding the benefits, as well as the structure of this unique system, can help you...


Important Tax Numbers In 2020 For Employees

We are all busy in February, but let's not forget the essential budget planning for 2020. At the start of each year, the key figures of many tax laws are adjusted for inflation....


Seven Other Alternatives to IRS Direct Pay

All U.S. citizens do have up to the middle of the fourth month of the year to file in their annual tax. There are, however, other options for extensions based on various factors. There...


Money Moves for Starting a New Job

Having a new job is one of the best things that can happen to man, especially when you consider the impact on your financial life. Many potentials come with this new life. Many people,...


Three Types of Electronic Wills

Over the years, vital documents were created and stored in hard copies. This, without a doubt, came with its unique pros and cons. In time, with an increase in technological development,...


The True Cost of Payday Loans

A payday loan seems like a lifesaver because it provides an easy way to get cash. If you were suddenly met with a high expense without any means of payment, a payday loan might appear...


How To Improve Estate Plans

As a smart fund manager, you probably already have at least one basic real estate plan, including the notary's will and financial powers. However, there are many other tools you...


4% Pension Income Rule

What is the 4% percent rule?The 4% rule is a general rule used to determine the amount a retiree should withdraw from a retirement account each year. This rule is intended to provide...


What To Do If Your Amended Tax Return Is Rejected

In general, if the IRS refuses your statement, it's probably because it contains an error other than a simple mathematical error. The IRS generally corrects mathematical errors...


Is the Pension Crisis Getting Worse?

It's an inevitable fact: in our crumbling retirement system, millions of older Americans have no way to retire in dignity. Individual workers want a full pension and are ready...


Love to Travel? Learn about the New Per Diem Rates

Effective on October 1, 2019, the new per diem numbers are out. On or after October 1, 2019, any employees who will travel away from home will have this allowance and these numbers...


Top 8 Helpful Non-traditional Estate Planning Tips

For centuries, estate planning and asset management of clients have been overseen by financial advisors. However in recent years, for finance pros and their clients to stay on top...


How To Know If Your Social Security Benefit Is Taxable

You've buckled down for quite a long time, and now you need to make the most of your golden years. In case you want to have a pleasant way of life in retirement, you are likely...


Guide on Part-Time Job Withholding

Engaging in a part-time job to remain occupied and earn cash isn't intended to be as severe as finding a full-time, long haul job. In any case, the tax preparation and bookkeeping...


Unsolicited e-mails from IRS imposters

The tax season may be over for most taxpayers, but fraudsters do not give up. The Internal Revenue Service (IRS) has recently warned taxpayers and tax professionals against a new fraudulent...


Deducting Mortgage Points: Here's how it is being deducted

The points you paid for when you signed a mortgage to buy your home can help you reduce your federal tax bill. With scores, sometimes referred to as loan origination points or discount...


How to go to College for FREE

College education can set you back by a substantial sum. In 2017-2018, a four-year course in a private college would entail an expense of about $34,740. It could take you the best...


Home Based Tax Deduction for Two Businesses

More people are choosing to work from home with the rising influence of computers and information technology in the workplace. Working from home allows you to deduct home office expenses...


Fintech: Money Management and Financial Technology

By providing a better user experience and control over various aspects of money management, financial technology (Fintech) applications are an effective and convenient way to take...


Social Security Spousal Benefits

When a spouse dies, his or her social security benefits may be available to the current or former spouse, depending on the circumstances. The benefit of a social insurance spouse is...


What To Expect Next In Interest Rates

Interest rates will continue rising in 2019. But savings rates, mortgages, certificates of deposit, and credit cards are growing at different speeds. Each product is based on a different...


Do you have anxiety for money? Financial therapies may be right for you

Do you lose sleep when it comes to managing your finances? If so, you are in good company. In a survey conducted in 2018, 30% of Americans said they were continually being asked for...


Alimony; Payments, Adjustments, and Benefits

Over the last 70 years, child support payments have been deductible by the payer and taxed as income for the recipient (note that significant rule changes occurred in 1984). The previous...


Hobby vs. Business Losses for Tax Purposes

There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...


Annuities 101: Things you need to know

An annuity is a contract that exists between you and an insurance company to cover specific objectives, such as lifetime income, principal protection, legacy planning or care cost...


Types of Income the IRS Can’t Touch

As you are probably aware, the large proportion of your income is taxable. Whether earned through a salary, hourly wages, tips, commissions, rent from a property that you lease or...


Loss carry forward and loss carryback: How you can save on taxes

Every year does not go as expected, and sometimes it could be a situation where businesses made fewer profits as they did the years before. When the cost of expenses begins to exceed...


A few Principles Of Taxation You Can Rely On

The eighteenth-century philosopher and economist Adam Smith endeavored to systematize the standards that ought to oversee a sound arrangement of taxation. In The Wealth of Nations...


What You Don’t Know About The IRS Collection Threats

Consider their tension: Is the IRS going to appear one day and seize my home? Put a levy on my salary so I can't accommodate my family? Shut down my business? When do I recover...


8 Tax Tips for the Suddenly Unemployed

If you have been relieved of your job, odds are your pay has dropped significantly. That implies your tax status has likely changed too. You may now be eligible for deductions...


Can IRS Seize Your Tax Refund?

In case you are still hanging tight for a tax refund on your federal income this year, here's one reason it may be postponed: the administration could have seized it. A similar...


Unreimbursed Partnership Expenses: What are they?

When it comes to tax treatment, there is a difference between unreimbursed business expenses for partners and S corporation shareholders. Also known as ordinary and necessary expenses,...


What Happens When Your E-file Extension Is Rejected

Rejecting tax extension application through e-file or on paper isn’t really something that the IRS would do a lot of times. However, they have rejected tax extension applications...


Prepare Losing These Tax Breaks On Your 2018 Return

If you haven’t thought about hiring an Accountant to help prepare your taxes before, you may now have to consider doing it now. It’s important for you to be prepared for...


6 Ways To Appeal Property Tax

It's possible to trim tax bill on your estate by appealing the real value assigned to your home by the taxman. The "assessed value" is what's utilized to figure...


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Professional Memberships

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