Joseph E. Balmer, Author at Ohio Family Law Blog

UPDATES TO ALERT – Regarding Tax Changes for 2023 Directed to Venmo and PayPal Users Originally Posted December 17, 2022

E-Commerce Platforms Impacted by Recent IRS Announcement

PUBLISHER’S NOTE: After publishing an article on this blog on December 17, 2022, the I.R.S. made a change as to the effective date for the “gig-tax” rule discussed. Please read the update below.

UPDATE: I.R.S. Makes Tax Changes for E-commerce Platforms, Pauses Requirement for 1099s

On December 23, 2022 the I.R.S. paused the requirement that e-commerce platforms such as PayPal, Venmo, Etsy and Airbnb send 1099s to any users who had gross income through the app of at least $600 in 2022.

Previously, e-commerce users received 1099s if they had gross income for the year of at least $20,000 or at least 200 transactions. As part of the American Rescue Act, in March of 2021 Congress changed the threshold to $600, to take effect in 2022. Now the I.R.S. had instituted a one year delay for the law to go into effect. According to the I.R.S., this delay is to help reduce confusion during the 2023 tax-filing season and provide more time for taxpayers to prepare and understand the new reporting requirements.

Keep in mind that this delay does not affect what income is taxable, only how much information is reported by … Read More... “UPDATES TO ALERT – Regarding Tax Changes for 2023 Directed to Venmo and PayPal Users Originally Posted December 17, 2022”

Online Purchase Scams Most Reported Con During Holiday Season. Avoid Being Victimized with These Tips from the Better Business Bureau

The Top Holiday Scams to look for in 2022

Holidays are a time for shopping and gift giving. With all the shopping online and with social media, holiday scams are at an all-time high. Don’t be a victim of scams this holiday season. I have updated a blog post on this topic from 2021. There are always new scams as well as prior ones to be concerned about!

According to Forbes, these are some of the top holiday scams to look for in 2022. Scammers are creating new ways all the time to rip-off the public!

Gift Car Scam – Scammers take gift cards off the display at retail stores, scratch off the PIN code, write down the card number and PIN code and apply a new coating over the PIN code on the card. Once the card is purchased and activated, the scammer uses the card for personal use and the purchaser is left with a card with no available balance left to use.
Mail Theft – This has been a big problem lately especially in the Dayton area. Holiday envelopes are usually easy to distinguish, and scammer will steal from mailboxes, look for holiday envelopes and open

ALERT: IRS Tax Changes for 2023 That Could Affect You Especially if You Use Venmo or PayPal

PUBLISHER’S NOTE: After publishing this blog on December 17, 2022, the I.R.S. made a change as to the effective date for the “gig-tax” rule discussed. Please read the update here.

Highlights of the New Tax Law Changes for 2023

With 2023 fast approaching, it is time to look at changes to income tax rules and regulations for 2023 and how they may affect you.

As is usually the case, 2023 will bring annual inflation adjustments to many tax provisions. Some of the more notable ones are as follows: the standard deduction for married couples filing jointly rises to $27,700 from $25,900 and for single individuals, up to $13,850 from $12,950; the estate tax exclusion for decedent’s estates rises to $12,920,000 from $12,060,000; and the annual exclusion for gifts increases to $17,000 from $16,000 for 2022.

One of the more significant changes applies to those who earn income through payment apps such as Venmo and PayPal. Previously, payment apps were required to send 1099s to users if their gross income through the app exceeded $20,000 or they had at least 200 transactions within the calendar year.

Now the threshold for receiving 1099s from the app will be a user … Read More... “ALERT: IRS Tax Changes for 2023 That Could Affect You Especially if You Use Venmo or PayPal”

What Happens in Ohio if I Lose My Will?

A Lost or Destroyed Will Can Be Submitted To Probate…Under Certain Circumstances

We strongly suggest that our clients protect all of their original estate planning documents by keeping them in a fireproof container. This includes their Last Will and testament. However, what happens if a will is somehow lost or destroyed?

A lost, spoiled or destroyed will can be admitted to probate under certain circumstances. The question becomes did the testator intentionally destroy the will, which makes it null and void or was it unintentionally lost or destroyed which makes it still valid. The law in Ohio used to be that if a will could not be found, the assumption was that it was intentionally destroyed as a way of revoking it. This assumption no longer exists.

Keep your Original Estate Planning Documents in a Safe Place

Upon applying to admit a lost or destroyed will, the court will set the matter for a hearing. Certain individuals must be notified of the hearing, Those include any surviving spouse, anyone named as a beneficiary under the will, anyone who would be a beneficiary if the decedent had died without a will and anyone who would have been a beneficiary under … Read More... “What Happens in Ohio if I Lose My Will?”

Getting to Know the Basics of Medicaid

medicaid community spouse estate planning long-term health care

65 and Older: Applying For Medicaid In Ohio

Medicaid is a federal and state program that provides long-term health care for those age 65 and older who meet certain income and asset requirements. Medicare is a federal health insurance program available for anyone age 65 or older regardless of income or asset level but does not cover long term care. Thus, if a senior needs long term care, they pay for it from their own resources until they reach a level qualifying them for Medicaid eligibility, at which time Medicaid takes over and pays the long-term health care facility’s bill going forward. The basic rules are as follows. All numbers are Ohio Medicaid figures for 2022.

An individual applying for Medicaid must satisfy an income eligibility test. The applicant’s eligibility must not exceed $2,523 per month. If the applicant is married, the applicant’s spouse’s income is not counted. Also, the non-applicant spouse may be entitled to a minimum monthly maintenance needs allowance (MMMNA). If the applicant would otherwise qualify for Medicaid other than failing the income test, they can set up a qualified income trust (QIT), sometimes known as a “miller’s trust”, whereby the excess income is deposited into … Read More... “Getting to Know the Basics of Medicaid”

Ohio’s Funeral Laws to Change in Mid-September: Here’s What You Need to Know

Preneed Funeral Contract Reforms Come To Ohio

Ohio Funeral Laws Set To Change – How This Impacts The Preneed Funeral Contract

“Not only is S.B. [Senate Bill] 224 a business-friendly proposal, but it is a consumer-friendly proposal,” states State Senator Jerry Cirino, who sponsored the bill.

On March 16, 2022, the 134th General Assembly passed a bill containing several reforms to Ohio’s funeral laws. While S.B. 224 covers several reforms to funeral laws, the three most important are as follows: (1) reforms to preneed funeral contracts, (2) reforms to ID tags for cremated remains, (3) reforms to unclaimed crematory remains when a funeral home permanently closes, and (4) changes to funeral procedures. To discover what other interesting changes S.B. 224 will implement to funeral law, click here to read the full bill.

1. Reforms to Preneed Funeral Contracts

What is a Preneed Funeral Contract?

S.B. 224 mentions preneed funeral contracts, but what is a preneed funeral contract? Simply put, a preneed funeral contract is a contract for certain funeral services or goods that are paid for by someone prior to their death. A preneed funeral contract can be paid for directly, funded through insurance, or even funded through an … Read More... “Ohio’s Funeral Laws to Change in Mid-September: Here’s What You Need to Know”

Concerned About A Loved One Being Mistreated in a Nursing Home in Ohio? A New Ohio Law Might Help!

Elder Abuse Law Passes In Ohio. Esther’s Law (Senate Bill 58) Goes Into Effect

Ohio Senate Passes New Bill Permitting Family Members To Install Cameras In Effort To Catch Elder Abuse

In March of 2022, the Ohio Senate passed Bill 58. This bill permits family members to install cameras in nursing room homes in order to protect the welfare of their loved one. The name of this law is Esther’s Law, and it came about after 10 years of advocacy by Steve Piskor, an Ohio man who has fought tirelessly for this right to be given to families. Piskor’s mother, Esther Piskor had dementia, and was living in a nursing home in Cleveland. Due to her condition she couldn’t tell Steve what was going on, however he suspected that she wasn’t getting appropriate care. Wanting to monitor what was happening when he wasn’t there, he installed a hidden camera in her room.

Unfortunately, the camera confirmed his suspicions. He observed a great many incidents of elder abuse. Esther’s basic needs were not being tended to. She was verbally abused by aides, handled roughly, had liquids sprayed in her face, and had her face shoved into a pillow, among other … Read More... “Concerned About A Loved One Being Mistreated in a Nursing Home in Ohio? A New Ohio Law Might Help!”

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