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Avoid These Common Tax Mistakes

August 22, 2017

There are nearly 1,000 different tax forms used by the IRS to report tax obligations. It’s no wonder the IRS faces thousands of tax returns with errors each year. Here are some of the most common:

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Keywords: tax, tax errors, taxes

Say Goodbye to the College Tuition Deduction

August 21, 2017

Congress decided not to extend this $4,000 deduction for 2017, leaving many parents worried that college will now be more expensive. However, Congress left in place two popular education credits that may offer a more valuable tax break:

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Your child's summer earnings could open an IRA

August 14, 2017

If your child has a summer job, he or she can make a contribution to an IRA for 2017.

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Keywords: child, ira

Steps to avoid a name mismatch audit

August 14, 2017

If you changed your name for any reason during the past year, you will need to file Form SS-5, Application for a Social Security Card, with the Social Security Administration (SSA) to notify them of the name change before you submit your 2017 tax returns...

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Keywords: social security, tax

Have adult children? Take steps to avoid medical access denial

August 4, 2017

Imagine your college-aged daughter has an accident while away at school and ends up in the emergency room. When you call the hospital, you are denied information about her care because you do not have the proper forms signed.

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Keywords: medical access

Learn from the ‘best places to work’

August 2, 2017

Google, Facebook, and Southwest Airlines are among the top five companies on job search site Indeed’s “Best Places to Work 2017” list. You may not have the resources of these large companies, but you can incorporate some of their ideas..

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Your HSA as a retirement tool – the facts

August 1, 2017

Health Savings Accounts (HSAs) are a great way to pay for medical expenses, and since unused funds roll over from year to year, the account can also provide a source of retirement funds in addition to other plans like 401(k)s or IRAs. But be aware...

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July 2017 Market Insight

August 1, 2017

Summer is flying by! Back to school shopping has taken over retail stores, and key data from the second quarter is coming in. The markets in July were fueled by several factors: strong earnings, better than expected housing data, four-decade low jobless claims numbers, the “dovish” Fed meeting, a rise in June durable goods, and positive momentum in tech shares.

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Keywords: market insight

Summertime tax savers

July 7, 2017

Summer may be one of the best times to review your taxes, because taking the time now could result in 2017 tax savings. Here are just a few tax-saving ideas to consider.

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Keywords: tax, taxes

Weddings and taxes – A checklist

July 6, 2017

When planning a wedding, the to-do list seems endless. But, don't make the mistake of neglecting some tax planning for this life-changing event.

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Keywords: tax, taxes, wedding

The Power of Estate Planning Documents

By Jim Hess, CEO, CPA   |  July 3, 2017

My wife, Margaret Ann, and I are walking through the season of life where caring for parents has become a significant responsibility. While it has been a blessing to journey with our parents through their latter stages of life, it has also taught us

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Morningstar Investment Conference 2017 Recap


In April, I attended the annual Morningstar investment conference in Chicago. The conference provides financial advisors and mutual fund representatives an opportunity to gather together and discuss current events in our industry. Global economic upd

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Keywords: morningstart

SEC Shortens Equity Trade Settlement Days

July 3, 2017

Impatient stock traders: rejoice! Effective September 5, 2017, the SEC will shorten the settlement period for purchase or sale of stocks (equities), bonds, and exchange traded funds (ETF’s). Currently, it takes 3 business days for these types o

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Investment Update

By Aaron Bates, CFP, Investment Advisor   |  July 3, 2017

2017 Q2In spite of many political twists and turns, stock and bond markets continued their winning ways in the second quarter of 2017. Stocks were led by international holdings despite troubling political headlines both in the United States and abroad

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Keywords: investments  |   0 comments

Employee Spotlight: Tracy Wells

July 3, 2017

Many of you may already know Tracy Wells, who serves as one of our three Investment Advisor Representatives. Tracy has been with Whitcomb & Hess since 2011.

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Keywords: tracy wells

Great Things are Happening in Ashland!

July 3, 2017

New Businesses, Upcoming Events, in the Community

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Keywords: ashland

June 2017 Market Insight

July 3, 2017

Resilience seems to be the keyword for the month of June. The month kicked off with stock markets reaching all-time highs, dropping down, and bouncing right back up to another new all-time high later in the month. Consistent with the pattern so far this year, US stocks, international stocks, and bonds continue to climb higher with strong momentum.

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Keywords: market insight

Five home office deduction mistakes

June 25, 2017

Here are five common mistakes of those who deduct home office expenses.

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Keywords: tax, tax planning

Three actions to save for retirement

June 24, 2017

If you haven't started saving for retirement or you haven't saved enough, here are three actions you can take to put you in a better position during your golden years:

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Keywords: retirement

Reap the benefits of hiring your child for the summer

June 23, 2017

Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And you will reap a few tax benefits in the process.

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Keywords: children income

Tax-free income

June 22, 2017

Yes, that's correct, there are some forms of income you receive that may be tax-free. Here is a list of eight common sources of tax-free income.

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Keywords: tax, tax planning

Children, taxes, and their new job

June 7, 2017

Is your child thinking about taking on a job for extra money this summer? If so, both of you may have questions about taxes. The following are a few tax tips to help you prepare.

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Midyear tax planning more important than ever

June 6, 2017

Summertime usually makes us think of vacations, backyard barbecues, and general relaxation. Tax planning may not be on the top of your summertime to do list, but this year you may want to consider making time for it.

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Keywords: tax, tax planning, taxes

May 2017 Market Insight

June 1, 2017

Volatility in the market is at a multi-decade low. Even though the markets are buzzing with noise about political drama...

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Keywords: stock market, stocks

Reasons to incorporate your business

May 22, 2017

Here are some reasons you may want to consider incorporating your growing business.

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4 tips to landing your dream home in a seller’s market

May 22, 2017

Here are some suggestions to landing your dream home in our current real estate market.

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Keep your audit fears in check

May 22, 2017

Getting audited by the IRS is no fun. However, your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting and reassuring facts about the risk of an IRS audit.

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Keywords: audit, irs

Take time to review your beneficiary designations

May 10, 2017

Who have you designated as beneficiaries for your insurance policies and retirement accounts? If you can't remember, it's worth checking. If you make the wrong decision, it could affect who inherits those assets. Here are some key facts about beneficiaries:

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Know the tax rules before gifting

May 9, 2017

Gift giving can be an important tax planning strategy. But before you write checks, learn the rules. Here are two of them:

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Keywords: tax planning, taxes

April 2017 Market Insight

May 2, 2017

April was another rip-roaring month, as almost every major stock index across the globe increased significantly. International companies continued to outperform their U.S. counterparts, as the MSCI World ex USA Index returned over 2.13% for the month...

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Keywords: stock market