If you can use (even a little bit) of self-discipline, the debate between using a credit card vs. using a debit card is not a close debate.
The Case for Credit Cards Four Reasons Why You Should Have One
Tax Implications and Reporting for a Decedent’s Investments
What happens when a person owns stock at the time of death? The executor/administrator/surviving spouse/kids don’t get on the phone with the banker the exact moment the decedent passes away in order to address assets owned in the decedent’s individual name. A person owning a stock in his/her individual name is very common. There is... Continue Reading →
How does the Vatican Make Money?
Vatican City is a beautiful, yet mysterious place. I was able to visit Vatican City in 2022 and I left the area both impressed and intrigued. This autonomous country located within the city of Rome is only approximately 110 acres. Despite my visit to the Vatican on a very cold day in the middle of... Continue Reading →
Where Should I Establish My LLC?
Some states claim to be the best states in which to establish an LLC. Wyoming, Nevada, and Delaware are a few names that I commonly hear. Be wary when you hear advice on where to establish an LLC. Chances are unless you’re doing business in one of these states, it’s unlikely they are the best... Continue Reading →
Retitling a Property to a Trust – But What About the Mortgage?
There are several good questions that arise when putting a home in a revocable living trust. Here are three common questions and answers: Question: I think I have a due on sale clause, do I need to be concerned about transferring my house to a trust? Answer: Probably not. It makes sense why a lender... Continue Reading →
Ohio Local Taxes
If person (or entity) has worked in Ohio, municipality income tax may be levied. Several hundred Ohio municipalities currently have an income tax on the books. An overview of municipality tax in ohio Ohio Revised Code Section 718 is the authority for municipal income taxes in Ohio. Municipalities (cities and villages) in Ohio may generally... Continue Reading →
Tax Debt Looming…? What Can the IRS Do?
What happens when you owe the IRS? Or, oftentimes more accurately stated: what happens when the IRS thinks you owe them? The IRS has a wide array of tools to crush us, mere commoners. Here are a few of them. The IRS Notice The IRS will send their infamous notice. Many times, these notices give... Continue Reading →
Change your fast food habits!
According to UnitedStatesNow, the average American household spends about $2,700 per year on eating out and almost $500 per year on alcohol. I scoffed at this statistic and shook my head at that statement until I wrapped up my own financial record-keeping for 2022. My wife and I were right at about $3,000 for all... Continue Reading →
Tax Harvesting Can Save $!
Inflation is sky-high, interest rates are on the rise, and we’re funding another country’s full-scale war that is thousands of miles away. 2022 was a terrible year for the stock market. If you’re an equity investor, chances are your net worth has dropped substantially from only one year ago. That’s a bummer, but there may... Continue Reading →
Opening a Law Firm? Read This First
Starting a law firm immediately after law school (and passing the bar) is no light endeavor. Starting any business is a challenge. However, owning and running a law firm requires a business-oriented mind and an understanding of how to practice law. These unique mindsets don’t always overlap. I started a law firm immediately after passing... Continue Reading →
MoneyManeuvering 