Jul 29, 2025 | financial planning, tax deduction, taxable income, taxes
The talk of the town this summer is the above bill. do you know the facts that could affect you when filing your 2025 returns? In some cases not so BIG or BEAUTIFUL! There is an additional senior (over 65) deduction of $6,000. per individual that phases out when your...
Nov 11, 2024 | donations, tax deduction, taxes
Each year the IRS reminds owners of traditional IRAs who are over 70-1/2 that they may make a charitable gift from these funds. This type of gift/donation is known as a qualified charitable distribution (QCD). For those age 73 and over the QCD may fulfill part or all...
Sep 22, 2024 | financial planning, tax deduction, taxable income, taxes
Education savings plans have always been a great way to provide for future education expenses. NOW (starting in 2024) the balance of the Ohio 529 Plan will NOT count towards education assistance. The FAFSA form per student has been revamped and the above information...
Jul 19, 2023 | financial planning, tax deduction, taxable income, taxes, Uncategorized
If you have sold anything valued over $600. in 2023 using payment transactions such as credit cards, Pay Pal and/or Venmo, you will be getting a FORM 1099-K from the service at year end. ...
Dec 17, 2022 | tax deduction, taxable income, taxes, Uncategorized
There will be several changes when filing your 2022 taxes. Some of the changes will increase your taxes due for 2022. If you received a refund last year, you may not receive one this year due to the following taxing updates:The child tax credit is $2,000. for a...
Jun 7, 2022 | financial planning, tax deduction, taxable income, taxes
Did you know that you can invest up to $10,000. individually annually at the current rate of 9.65%? This rate has been established thru October 2022. The bonds have an annual rate consisting of a fixed rate and a semi-annual inflation rate.These funds are a low risk...
