Leasing can make sense for certain people in certain situations. Leasing, however, isn’t for everyone. Here are some of the factors we consider when clients ask us whether they should lease or buy:1. If you drive less than 15,000 miles per year, and if you buy a car every few years.2. If you have a steady income stream, and/or3. If you are self-employed and use the car for business.

You can get a tax break when paying extra for a license plate that advocates a charitable cause. For example, in Ohio there are several license plate options that promote Lake Erie, wildlife, etc. These plates cost an additional $15 per year which goes to fund those charitable causes. That $15 is a qualified charitable deduction that can be deducted on your Schedule A Form, if you itemize your deductions.

Payments for the services of a child under the age of 18, who works for his or her parent in a trade or business, are not subject to Social Security, Medicare, and Ohio Unemployment taxes, if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of the child.

The Social Security Administration (SSA) has initiated a new method of assigning Social Security numbers (SSN) to new applicants. In the past, a person applying for a SSN would be assigned a number based on his or her geographic residency. The first three numbers of the SSN, known as the area number, were assigned to individuals in specific states.

Starting with those who had birthdays in July 2011, the SSA is going to discontinue mailing these annual projected benefit statements. It is expected to save $30 million, this fiscal year, and $60 million, next fiscal year, by ending the mailings.

The recently enacted 2012-2013 budget that Gov. Kasich signed into law includes a provision that eliminates the Ohio estate tax. Before this repeal, Ohio taxed anyone who died with assets above $338,333 at a tax rate of up to 7%. This was the lowest exemption amount of any state in the United States.