Ohio Senior Alert: How to Claim the $1,150 "Triple Stack" Tax Credit

Описание: Most Ohio seniors claim the $50 "Senior Citizen Credit." But they miss the "Retirement Income Credit" ($200) and the "Joint Filing Credit" ($650). By "stacking" these three, a married couple can lower their state tax bill by $1,150 every single year.

As The Finance Observer, I’ve performed a forensic review of the Ohio Schedule of Credits. In this video, we dissect the "Double Dip" strategy, why checking the "Lump Sum Distribution" box is a "Poison Pill" that disqualifies you for life, and the strict $100,000 MAGI Cliff that wipes out your benefits if you earn $1 too much.

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FORENSIC BREAKDOWN:

0:00 The $1,150 Opportunity: Stacking three Ohio credits

1:15 The "Poison Pill": Why the Lump Sum Election ruins your future

2:25 The Double Dip: Senior Credit ($50) + Retirement Income Credit ($200)

3:30 The Social Security Trap: Why you might need an IRA withdrawal to qualify

4:00 The "Triple Stack": Unlocking the $650 Joint Filing Credit

4:45 The "Qualifying Income" Trigger: Why Interest & Dividends DON'T count

5:15 The $100,000 Cliff: How $1 of extra income kills the entire stack

DISCLAIMER: I am The Finance Observer. This content is for educational purposes only. State tax credits are subject to income limits; always consult a qualified CPA familiar with Ohio tax law.