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Financial and Tax Planning Resources

Energy Tax Credits Available for 2023 Thumbnail

Energy Tax Credits Available for 2023

Have you made energy improvements to your home? Did you purchase an Electric Vehicle? If so, tax credits are available! The Inflation Reduction Act of 2022 increased the residential credit amounts and the types of expenses that qualify.

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ChatGPT and the Risk of Data Loss Thumbnail

ChatGPT and the Risk of Data Loss

According to Wikipedia, “ChatGPT is an artificial intelligence (AI) chatbot developed by OpenAI and released in November 2022. It is built on top of OpenAI's GPT-3.5 and GPT-4 families of large language models (LLMs) and has been fine-tuned (an approach to transfer learning) using both supervised and reinforcement learning techniques.” ¹

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Understanding Ohio’s Pass-Through Entity Tax Thumbnail

Understanding Ohio’s Pass-Through Entity Tax

The Tax Cuts and Jobs Act of 2017 imposed a $10,000 cap on the deduction of state and local taxes (SALT) for individuals who itemize their deductions. Over the years, many states have adopted a SALT Cap workaround and after the signing of Senate Bill 246 into law, Ohio now allows pass-through entities (PTEs) to elect to be taxed at the entity level starting with the 2022 tax year.

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Secure Act 2.0:  The Impacts to Individuals and Small Business Owners Now and In the Future Thumbnail

Secure Act 2.0: The Impacts to Individuals and Small Business Owners Now and In the Future

Legislation known as the “SECURE Act 2.0” was included as a part of the bigger Consolidated Appropriations Act of 2023, which was signed into law on December 23, 2022. This act is a follow-up to the original SECURE act passed in 2019 that made several significant changes to retirement planning, including how people can inherit retirement accounts to the age for Required Minimum Distributions. This article will provide information on several of the changes included in this recent bill.

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