Untitled Document
Chornyak & Associates

614.888.2121  •  877.389.2121   •  Chornyak.com


October 2019

7 straight-forward steps can help you build wealth starting today. Our lead story reviews this process, and can only be developed with our clients through detailed planning.

With last year's changes to the tax law, some tax payers were surprised by additional taxes they owed when preparing their return.  The IRS has developed a new helpful withholding tool, which we share in our second article.

This month's "What's Happening Now" section shares interesting stories on how more Americans are house rich, but leaving cash in the house, divers setting a record cleaning the ocean floor, and what dropping 17,000 wallets teaches us about honesty.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or e-mail chornyak@chornyak.com with any questions or comments.  Or, follow this link to request a meeting with us to discuss your financial planning needs: https://www.chornyak.com/appointment-request 

Sincerely, Joe
How Much Will Retirement Cost?

7 Best Ways to Build Wealth Starting Today

The key to growing wealth isn't always simply to make more money. Sometimes, it's about using what you have to your advantage — maybe it's as easy as moving your savings into an account with higher interest rates, or taking advantage of an employer's 401(k) match.

Most importantly, experts say one of the most important elements to building wealth is to simply give it time. Here are the best ways to start building wealth today, according to financial planners.

Read More


New IRS Withholding Tool

As a taxpayer, were you disappointed by your 2018 tax return? Perhaps you found out that you owed taxes because your paycheck withholdings were insufficient. Or maybe your refund was smaller than you anticipated. Due to changes in tax withholding rates and limited deductions, the Tax Cuts and Jobs Act of 2017 created surprises like these for many taxpayers. Prior to the new law, taxpayers frequently received a refund due to excess withholding. 

In response to taxpayer concerns, the IRS released the new Tax Withholding Estimator (Estimator). This tool lets you review your withholding amounts to see if they’re on the right track or if you should consider making changes. The Estimator can be accessed through the IRS website at https://www.irs.gov/individuals/tax-withholding-estimator. Before using the Estimator, be sure to gather the information listed below. You’ll be able to see your results in minutes and can then decide whether to make changes to your current withholding allowance with your employer.  

Please Note: The Estimator will take you through some questions that will vary depending on whether you itemize or claim the standard deduction. To find out which items can be deducted, review IRS Topic No. 500 at https://www.irs.gov/taxtopics/tc500.

Read More


What's Happening Now

Photo Photo Photo
More Americans are
House Rich, But Leaving
Cash in the House
What Dropping
17,000 Wallets Teaches
Us About Honesty
633 Divers Set
Record Cleaning
Ocean Floor

Market Update


Positive month for markets caps off turbulent quarter
U.S. markets had a positive September, which helped offset volatility earlier in the quarter. The S&P 500 returned 1.87 percent in September and 1.70 percent for the quarter. The Dow Jones Industrial Average performed better, with a 2.05 percent monthly gain and quarterly growth of 1.83 percent. The Nasdaq Composite lagged, with a 0.54 percent monthly gain, taking the index to a 0.18 percent gain for the quarter. Read More


716 Mt. Airyshire Boulevard, Suite 200, Columbus, Ohio 43235
614.888.2121  •  877.389.2121  •  Request Appointment

Securities and advisory services offered through Commonwealth Financial Network®
member FINRA/SIPC, a registered investment adviser.