Questions tagged [ohio]

Use this tag for questions related to rules and experiences specific to the State of Ohio in the United States.

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Calculating nonresident credit for 2016 Ohio Schedule of Credits

I wanted to double check I'm doing this correctly on the 2016 Ohio Schedule of Credits form. I didn't do 2016 state taxes for Ohio, yet, which is why I ask. On line 26 I entered some number. On line ...
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1answer
1k views

Is there a reason to exercise a stock option as soon as it vests?

Background: I am currently employed by a start-up that, so far, is doing really well. As part of my contract, I have stock options that will come available on a typical vesting schedule. A quarter of ...
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1answer
102 views

Do I need to file taxes in the city I work?

I live and work in Ohio. However, I moved in 2016 to a village without city income tax. However, I work in a city with income taxes. I started with this organization in 2017. My employer has been ...
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1answer
749 views

Foreign grandparents and 529 college saving

I'm an ex-pat living in Ohio with a child that we have set up a 529 college savings account for. My parents from the UK want to contribute to my daughter's future and I'm not sure what the most ...
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1answer
131 views

Handling federal and state tax witholdings as a household employee

A friend has recently started a job as a nanny in Ohio and received their first paycheck. The employer family also provided a spreadsheet that records the gross pay, various withholdings, and net pay. ...
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322 views

New vending route business, not sure how to determine taxes

I have started a new LLC business in Ohio for which I have acquired multiple amusement vending machines (these are prize redemption machines e.g. claw machines) with the plan to lease space and start ...
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1answer
3k views

Why don't my state and local wages match on my W-2?

I moved midyear from one state to another. I need to pay local income tax in my new city/state, something I did not need to do before. My W-2 shows my state income broken up between the two states ...
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0answers
65 views

What affects tax due for the Ohio vehicle tax penalty?

I bought a motorcycle for $3,000 and stupidly put $0 on title. I got a letter asking the sale price and paid $210 in taxes in response to the letter. Now I just got another letter that says I owe ...
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1answer
46 views

What is the best option I have to close out a State Tax Lien record?

I am an Indian national and was working in the USA for few years in the past. I returned back to India in 2013. I paid both federal and state taxes up till 2013. Now, I see a 'State Tax Lien' ...
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1answer
98 views

Car under the dealer's warranty

I just bought a car from a dealer and according to the law, they have provided a 3-month warranty to pay half a price for the repairs in case the car breaks. The car broke down and I need to have it ...
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342 views

Vehicle Title Requirements for selling a junk car

I'm planning to sell my old car to a company that will scrap it. I'd like to know what do I need to do with the title? They are planning to come and pick the car up and tow it to the junk yard. I ...
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187 views

w-2 form shows two different localities and values for wages and local income tax withheld

I live in Akron but work at Lakemore, Ohio. I do understand taxes not being withheld for Akron. But on box 18 it shows that I made an extra 700.00 when that wasn't the case. So to recap: Box 18-20 - ...
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3answers
2k views

Will the ex-homeowner still owe money after a foreclosure?

I'd like to know whether a person still own any money to a bank if his house ended up foreclosed? From what I found out it says that yes and the borrower owns the difference that the bank sold the ...
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1answer
279 views

Use a 529 plan to escape taxes of investment property sale

So I have been attempting to devise a way to go back to school in a cost effective manner. I enjoy what I do but I really want to continue learning. Unfortunately, like many on here I am cheap money ...
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2answers
4k views

Car lease payment went up after moving to new state

Recently, I moved to Kentucky from Ohio and my monthly auto lease payment with Chase Bank went up by about 8%. How is this possible if the tax difference between each state is only 0.5%? According to ...
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1answer
93 views

Residency for Out of State Student Getting Married

I am a graduate student in Michigan but still consider my permanent residence to be in Ohio, as I plan to return there after graduation. I am able to just file income taxes with Ohio, as the two ...
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1answer
211 views

I am the sole contributor to my long-term disability insurance. Will I owe income taxes on the amount I receive?

If I pay my own long term insurance, out of my check each week at my work, I read that I do not have to pay taxes on that income, that I would only owe taxes if my work paid for all or part of it is ...
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343 views

Can my local municipality charge taxes on rental income I make out of state?

EDIT Sorry for the unclear question - been staring at tax forms all night. I meant to say that I live in a municipality in Ohio that charges local income taxes. It looks like my local municipality ...
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3answers
384 views

What is the best approach to save money for College for three kids?

I have three kids ages 4, 3 and 0 and I am concerned about the cost of college education for my daughters. A lot of the "public" schools (not community colleges) cost between $20,000 to $24,000 a year ...
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1answer
305 views

Does anyone know if P2P lending will be made available in Ohio?

I have been trying to find information as to if there are any efforts in process to make P2P lending services like LendingClub.com and Prosper.com available for use in Ohio, and haven't had much luck. ...
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1answer
4k views

What P2P lending services are available to Ohio residents to use, as a lender?

I live in Ohio, and Lending Club and Prosper are unavailable for me to utilise as a lender. Are other P2P services available for Ohio residents? Are there alternative but similar lending strategies ...