Are you investing in a child's education?  In Ohio when you invest in a Section 529 Savings Program,  the beneficiary does not have to be your own dependent.  The State of Ohio allows a deduction from Ohio taxable income of up to $2,000 per beneficiary per year. This savings account  grows tax free and withdrawals used for qualified higher education expenses are exempt from both state and federal tax.

If you have a long-term care insurance policy, be sure to tell us.  Premiums can be deductible on the federal and Ohio income tax returns.  Policies that qualify are those that are guaranteed renewable and do not have a cash value. This deduction is limited based on your age. We will calculate the deduction for you.  

The deduction for real estate taxes includes taxes paid on all properties owned by the taxpayer, including undeveloped land. If you have separate real estate tax bills on your property, please include it with your year-end tax documents.

An archive of News Notes is now available on our web page.  Click on the Angle, Zaebst & Associates quick link (below) to go to our website, then click on the News Notes Archives link found on our homepage.