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Strauss Troy Listed as a 2019 Best Law Firm by U.S. News – Best Lawyers®

U.S. News Best Law Firms Badge for 2019

U.S. News – Best Lawyers® has recognized Strauss Troy among the Best Law Firms of 2019. Strauss Troy has earned eleven metropolitan rankings and was nationally ranked in Project Finance Law. National Tier 3 Project Finance Law Metropolitan Tier 1 – Cincinnati Commercial Litigation Mass Tort Litigation / Class Actions – Plaintiffs Project Finance Law …Read More

Planning for your family’s future: Is your life insurance sufficient?

It is important to periodically review your life insurance to make sure that you have a policy that will stay in-force long enough to accomplish your estate planning objectives. Recent actions by the life insurance industry to increase costs associated with some policies make it very important to have your insurance reviewed.

Consider if you really need life insurance or if your policy is in danger of imploding. Strauss Troy attorneys can review your current life insurance and assist you if there is a problem with your policy. We can also assist you in evaluating how your policy fits into your current estate plan to ensure that your objectives in providing for your family are met.

Ohio Expands Eligibility Requirements for Expungement of Criminal Convictions

Strauss Troy Attorney Christopher McDowell

Ohio legislature has increasingly expanded the number and types of convictions that can be removed from your record. These changes occurred as a result of the opioid epidemic, criminal justice reform, and a desire on the part of the Republican led legislature to permit more Ohioans to return to the workforce.

On October 29, 2018, the biggest changes yet to Ohio’s expungement law occurred. As of that date, a person in Ohio may expunge up to five felonies and an unlimited number of misdemeanors convictions. As with anything, there are some common sense limitations.

Larry Neuman receives Transformation Award

Strauss Troy attorney Larry Neuman

Strauss Troy attorney Larry Neuman received the Center for Respite Care’s Transformation Award at a banquet on Thursday, October 11 at the Cintas Center.

The Transformation Awards are held annually to honor those who have made a difference in the lives of people in our community.    Honorees are selected based on their commitment to both the Center for Respite Care and improving life for adults who are ill and homeless. Two of the past honorees are Father Michael Graham, President of Xavier University, and Dr Santa Ono, former president of University of Cincinnati. The Center for Respite Care’s is a 20 bed licensed facility in Over-the-Rhine, whose mission is to provide quality, holistic medical care to homeless people who need a safe place to heal, while assisting them in breaking the cycle of homelessness.

Increase your IRA contributions in 2019

Strauss Troy Attorney Claudia Allen

While Congress has not acted on any of the myriad proposals to increase opportunities for retirement savings, the Internal Revenue Service has announced that it will allow a bit more to be deposited into existing plans in 2019.

Next year, contribution limits for salary deferrals in into 401(k), 403(b) and 457(b) plans will increase from $18,500 to $19,000. Catch-up contributions (allowing participants age 50 or over to contribute an additional amount to 401(k) and 403(b) plans and Governmental 457(b) plans) remain limited to $6,000.

IRS issues guidance on changes to business expense deductions for meals and entertainment

On October 3, The Internal Revenue Service issued guidance on the business deduction for meals and entertainment following changes in the Tax Cuts and Jobs Act (TCJA).

While the act allows a deduction for expenses incurred during the tax year in carrying on trade or business, in 2017, the deduction of expenses related to entertainment, amusement or recreation was eliminated. However, the act does little to explain the tax treatment of business meals and there has been virtually no guidance from the IRS since the enactment of the TJCA until now.