Blog
When Will You Receive Your Tax Refund in 2020?
December 24th, 2019
See the biggest factors that affect when you receive your tax refund in 2020 for the 2019 tax year.
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Required Minimum Distribution (RMD) for Retirement Income - Understanding the RMD and How to Get the Largest Tax Benefit from Your Distribution
December 16th, 2019
It is that time of year again: Time to make sure you have met the required minimum distribution (RMD) from your retirement account by December 31. If you turned 70½ this year, you have until April 1 of next year to take your first RMD from your tax…
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Get Ready to File Your 2019 Tax Return: The updated numbers affecting your 2019 tax return
December 9th, 2019
Due to the annual inflation adjustments, the IRS has updated the numbers affecting your 2019 tax return, including tax brackets and tax rates and standard deduction amounts. These are the numbers you will use in 2020 to file your 2019 tax return. If…
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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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