Blog
Taxpayer Identification Numbers - Who Needs One?
October 11th, 2019
An Individual Taxpayer Identification Number (ITIN) is a nine digit number, the Internal Revenue Service (IRS) uses as a tax processing number when people file their federal tax returns, who do not qualify for a Social Security Number (SSN) or Employ…
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Planning for Your Long-Term Care Needs
September 17th, 2019
Many people rely on Medicaid to cover the rising costs of nursing homes and other forms of long-term care. The other main method of planning is to purchase long-term care insurance. Whichever method you choose, it is important to develop a plan for y…
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Exemptions to the Tax Penalty on Early Distributions from Retirement Accounts
August 9th, 2019
The majority of distributions from retirement accounts are subject to state and federal income taxes. In addition, if you take a distribution before reaching age 59½, a 10% early withdrawal penalty will apply unless you qualify for an exemption. The…
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What’s Better to Take a Loan or Distribution from Retirement Income?
July 12th, 2019
Deciding what’s better to take a loan or distribution from retirement income is no easy task. An essential piece of advice always to remember is your retirement income should be saved and used for, you guessed it, retirement! However, as people get…
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Podcast - Buying a Multi-Owner Hunting Property: Conversation w/ Attorney Ted Gudorf
June 26th, 2019
On this episode we talk to an estate planning attorney, Ted Gudorf, J.D., LL.M., about buying hunting property with a group of buddies as well as some of the things to consider when passing down your hunting property to your children.
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Is Your Retirement Income Taxable?
June 20th, 2019
It is important to plan for retirement. Many people save additional funds outside of their pension or Social Security for retirement — often using 401(k)s, Traditional IRAs, or Roth IRAs. However, most people forget to calculate for taxes that…
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Penalties and Fees for Paying Ohio Income Tax Late
May 15th, 2019
The tax deadline passed this year, and you have not filed your Ohio State Tax Return. You are not alone. Many taxpayers procrastinate. It is easy to get busy and put your taxes to the side, while you wait to receive all the necessary forms. Before yo…
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Filing State Taxes When You are Serving in the Military
April 9th, 2019
Filing state taxes when you are serving in the military can be complicated and confusing. If you are on active duty and stationed in another state or overseas, you should have state taxes taken out of your pay for your Home of Record (HOR) or state o…
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Are My Social Security Benefits Taxable?
April 2nd, 2019
Around this time of year, many people find themselves asking if their Social Security benefits are taxable? For most Americans, Social Security benefits, including Social Security Disability Income and Social Security Supplemental Income (SSI), are n…
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Should I File My Taxes, if I Cannot Pay?
March 8th, 2019
You know you cannot afford to pay your tax bill this year. Things just got away from you and the filing deadline, usually April 15th, is creeping closer and closer. Some taxpayers find themselves wanting to ignore the dreaded news of how much they ow…
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