Now that the 2017 tax season and filings (not those on extensions)are behind us it is time to be concerned about THIS year and what the changes really mean to you and your family. The first big question/questions this year are “What Can I Still Deduct” and “What Records Do I Need As Back-Up”? You […]
TAX CUTS AND JOBS ACT – WHAT IT MEANS TO YOU
The recently passed ACT is the most sweeping tax legislation since 1986. I will attempt to summarize some of the features that I believe may impact you and your taxes in the years ahead. The provisions that affect individuals are temporary until 2026; those affecting businesses are permanent. Individual taxable income rates will be lower […]
529 COLLEGE SAVINGS PROGRAM CHANGES
If there a college student or perhaps several college students in your future an upcoming change in the Ohio program may be of interest. Anyone can benefit from contributing to this program as long as you have a beneficiary listed when setting up the account. There is no annual contribution limit for the program, however, […]
HOW TO PRESERVE YOUR RETIREMENT FUNDS
Required Minimum Distributions are meant to reduce your funds in a timely manner and to fulfill your obligation of paying taxes on your deferred investment. Good planning and healthy stock market returns can leave you with a substantial balance in your account for years to come and still meet your distribution requirement. This year is […]