Financial Planning

Are you taking care of your finances? Use these resources to improve your personal finances and handle issues such as budgeting, retirement planning and investing.


  • Should you buy or lease your next car?

    Sep 20, 2013
    If you’re thinking of replacing your car, you may also be wondering if you should lease or buy the replacement vehicle. Leasing a vehicle used to be commonplace only for businesses because of the tax write-off. But now with deals like zero money down, low monthly payments or zero-percent interest, leasing has become a popular option for the general public.
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  • Taking the bite out of pet care costs

    Aug 28, 2013
    Spending on pets hit an all-time high last year, topping $53 billion, according to the American Pet Products Association. The highest growth came in pet services—such as grooming, boarding, and pet sitting—and supplies and over-the-counter medications also saw a sharp rise. How can you take good care of your furry best friend without breaking the bank? The Ohio Society of CPAs offers these tips.
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College Funding

  • Using 529 plans to fund grad school and education for career changes

    Jun 29, 2012
    College and postsecondary education is no longer just for young people. There was a 43% jump in the number of students age 25 and older during the first decade of this century, and another 23% rise is expected by 2019, according to the National Center for Education Statistics. These older students face many of the same challenges as their younger classmates, including paying for the high costs of a college or graduate education. That’s why they should be aware of all their options, including the opportunity to build tax-free earnings in a 529 college savings plan. The Ohio Society of CPAs explains how it works.
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  • How to cope when adult children move back home

    Apr 25, 2012
    Difficult economic times and a tight job market have sent an unprecedented number of adult children back home to live with their parents. A 2010 Pew Research Center study showed 21.6% of adults ages 25 – 34 were living in a multi-generational household. Welcome to the Boomerang Generation.
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Credit & debt management

  • Dealing with identity theft

    Apr 25, 2012
    Nearly 12 million adults were victims of identity fraud last year, up 13% from the previous year, according to Javelin Strategy & Research. Identity fraud or theft occur when thieves use your personal information to commit a crime, whether that means stealing your credit card details or using your Social Security number to set up a fraudulent bank account. The Ohio Society of CPAs recommends these steps to take after—and even before—identity theft happens.
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  • Steps to improve your financial literacy

    Mar 16, 2012
    Do you wish you had more control over your financial situation? The good news is that you don’t need to read a textbook to improve your financial literacy. In fact, according to The Ohio Society of CPAs, there are a few simple steps you can take to begin getting your financial house in order.
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Estate & trusts

  • What you should know about estate tax laws

    Feb 27, 2012
    When most people hear about estate tax planning, they assume it is only for the wealthiest taxpayers. However, recent changes in the estate tax laws have been so advantageous to those passing wealth to another generation that it is worth knowing about them to ensure you make the most of them as possible. Since crucial aspects of these laws are set to expire in 2013, it’s especially worth finding out about them now, according to The Ohio Society of CPAs.
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  • What you need to know about estate taxes

    Oct 31, 2011
    If you are handling the disposition of an estate, you are probably already aware that there was an unexpected reprieve from taxes on the estates of those who died in 2010. But if you’re involved in future estate planning for a loved one or yourself, it’s important to know that high estate tax rates have come back in force this year and beyond. The Ohio Society of CPAs offers a rundown on some of the complexities of estate tax issues.
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  • 3 tips on preparing for a disaster

    Aug 10, 2011
    Planning what to do in case of a disaster is an important part of being prepared. Some simple steps can help taxpayers protect financial and tax records in case of disasters.
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  • Questions to ask about life settlements

    Aug 10, 2011
    Do you own a life insurance policy that you no longer need? If so, there are a number of options available to you, including surrendering the policy to receive the cash value or letting it lapse. Another option is a life settlement, in which you sell the policy to an investor. Life settlements have become a $12 billion industry, but The Ohio Society of CPAs warns that there are a few questions you should ask before you sign up.
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Retirement planning

Savings & investing

  • Six ways to teach kids about sensible spending

    Oct 18, 2012
    Have you talked to your children about the value of money and the importance of managing it wisely? If you’re not sure how to get started with your kids, The Ohio Society of CPAs has this advice.
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  • Have you had the (financial) talk with your kids?

    Aug 29, 2012
    Back-to-school time is here. You know, that time of year when buying school supplies, clothes, shoes that will fit your kids for about three months, and spending on other sundries make you feel like you're watching money fly out of your wallet.
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Tax headquarters

  • Tax tips for newlyweds

    May 09, 2013
    June is traditionally a time when couples tie the knot and, as is the case with so many major milestones in life, all newlyweds should be aware of the tax considerations associated with marriage. If you or a loved one are planning nuptials, The Ohio Society of CPAs offers this advice on addressing the tax concerns.
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  • Safeguarding your tax records

    Mar 21, 2013
    There are many other instances, such as applying for a mortgage or other type of loan, when it will also be important to access your tax returns and other financial information. At the same time, you want to be sure that your personal documents remain confidential. With that in mind, The Ohio Society of CPAs offers these tips on protecting your critical information.
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From around the web

Ohioans score poorly in Financial Literacy 101
June 4, 2013
When it comes to basic financial literacy, Ohioans have a lot to learn. A new survey shows that Ohioans are the fourth worst in the nation in terms of financial literacy.