Most people in the village realize there is no local income tax, so home-based businesses enjoy a savings of 2.5% of vs an owner of a home business in many surrounding areas.
Individuals who work outside Riverlea pay local taxes based on their office location. Riverlea residents who work in Dublin or Columbus pay the prevailing rates in those areas. However, they can get a city tax rebate for days they are not in the office by filing form IR-25. This prorates city taxes for days spent outside of the office including, vacation, holidays, business trips, and days spent in the home office.
Since days worked out of the office are taxed at the rate of the individual's residence, Riverlea residents are entitled to a full refund of the prorated amount. This can quickly add up to a significant reduction in the local tax liability.
You can find more information on form IR25 or the IR25 instruction documents online, or by asking their tax preparation professional.
Special thanks to resident Marc Benevento for providing this tax did you know.