Comprehensive Tax & Legal Solutions
Receiving a letter from the IRS, especially an audit notice, can trigger anxiety for any taxpayer. While an audit doesn't necessarily imply wrongdoing, it does mean the IRS is taking a closer look at your tax return to verify its accuracy. Understanding the audit...
Owing money can feel overwhelming, especially when the entity you owe money to is the government. Luckily, government agencies understand that people have expenses and may need a little help paying their past due taxes, offering various solutions in the form of...
Before starting a new business, you should understand your future tax responsibilities. This can help you avoid complications and run a smooth operation. Every decision matters, but selecting a business structure that fits your needs is crucial. It will determine the...
Investing in real estate in Ohio can be a lucrative venture with hard work and careful planning. An unfortunate number of those new to real estate investing fail to take tax considerations into account, leading to unnecessary and often preventable losses. Here are...
Estate planning often focuses on reducing the value of the estate, which can lower the tax burden. For instance, federal inheritance taxes may only apply at a certain level. Using a trust to reduce the value of the estate can get it under that level so that the bulk...
Financial emergencies can arise unexpectedly, forcing many to consider tapping into their retirement savings. Two common options are 401(k) loans and hardship withdrawals. While both provide access to your retirement funds, they have distinct implications for your...
Your estate plan should be crafted to best reflect your intentions and give your beneficiaries as many tax breaks as are legally possible for them. While they will not be the appropriate estate-planning vehicle for everyone’s needs, many trust grantors find that a...
When a real estate deal is made, both buyers and sellers seek to tilt the contract in their favor – but there are some clauses in a real estate deal that can benefit both. A rent-back clause has that potential. Sometimes called a “leaseback” agreement, it’s...
One thing that can trigger an audit is when you make a tax mistake. This is often why people are very concerned about making unintentional errors. At our firm, we have already discussed how there is a big difference between an accidental mistake and intentional tax...
Most people who are creating an estate plan want to ensure that they’re leaving their loved ones as much as possible. One thing that could eat away at that total inheritance is taxes. Ohio doesn’t have an estate tax, so you’ll only have to think about federal taxes....