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 is not addressed or reported. Grandparent-owned 529 accounts will not affect […]
Archive for taxable income
TAX UPDATES FOR 2024
I hope you had an eventful/pleasant summer. The year is coming to a close FAST. For those that pay estimated taxes the third payment is due within days. If you operate a small business this is the time to review your INCOME AND EXPENSES for the last eight months. Is the results in line with […]
OHIO HOMEOWNERSHIP SAVINGS ACCOUNT
Beginning January 2024 OHIO is going to help(including recent graduates who have DREAMS of purchasing a home in the future) Ohio residents save for a down payment and/or closing costs at premium interest rates paid by Ohio financial institutions.These accounts when opened by the individual will be administered similar to Ohio’s 529 plans for education […]
HELP FOR STUDENT LOAN PAYERS
Payers should check with their employers concerning Educational Assistance Programs. A simple call to the Human Resource Department asking about this benefit may save you money. Your employers can now use this program to help with your student loan obligations. This is a special provision option to help pay down student loans. It has been […]