Community Blog

Welcome to the B2B Network website! Our focus is on building connections. Grow your business by spreading the word and helping others grow. And best of all, it's free! Visit our networking and marketing tips blog feed frequently to enjoy the great advise and perspectives of our members and sponsors.

Warren Co SBDC Sept. 2 Marketing Class

Marketing to Survive & Thrive in the COVID Economy

Learn how to survive and thrive in the COVID-19 economy. The Warren County Small Business Development Center is sponsoring a FREE Zoom Webinar September 2 to help you learn solutions and best practices of marketing in an economic downturn.

training eventAll Entrepreneurs are encouraged to attend for a demonstration of solutions and best practices of Marketing in a Downturn -and- Pandemic Promotions. This is a critical area to promote your existence and appeal to customers through traditional as well as contemporary channels.

Presented by:
Guideport Solutions
LDR Design Agency
RevLocal Marketing 
Spectrum Reach

Learn some great tips and techniques to Survive and Thrive! REGISTER right away as Zoom seating is quite limited. "See you" there!  

April B2BNetwork News

Advantages of a Network...

  1. networking Monroe OhioReferrals of reputable local businesses with easy access through a comprehensive easy to use website.

       2. Develop a simple way to find useful services pertaining to every business or personal need without using a Google® search to find them.

Referral Request...

Our membership currently has 402 members in the greater Middletown Ohio area.  I would like our numbers to double by 2020 and need your help.  Would you please email me prospective businesses the could enhance our numbers and provide valuable services to the members.  My email:

Visit our new website...

Last October we launched a new concept website that provides faster searching, community service news, marketing services and blogs with content to help you navigate business needs and be more successful in your business...

Now Offering Videos...

Video-mercials are and excellent way to link your business to your customers through multiple social media platforms...i.e Facebook® , Linkedin® ,available at a very low cost.. We offer professionally produced 30-45 second spots filmed at your location in 30 minutes or less. A drone flyover of your business location is also included.  No Office-No Problem we can shoot your commercial at our studio located in Mason, Ohio.   Email me for details:

Want to join us?

Visit our website: click the first link (Locate A Business) and click the Member Subscription link fill in the required information and you are a member.  It’s that     simple.  We value YOU!

business training monroe ohioQuarterly Seminars?

What do you think about having guest speakers on a quarterly basis with business related topics from qualified local industry experts?  Give me some feedback.

Golf Anyone?

We are considering a Benefit Golf Outing later this year.  Proposing 9 holes at TPC in Franklin with lunch at noon and a shotgun start at 1 PM.  Limited to 60 golfers and anticipating the event to only require 3 hours out of the office, probably on a Friday afternoon.  Projected cost $50 per person that includes lunch, cart and golf.  Any proceeds over cost would be contributed to the Kingdom Community Foundation in Franklin, Ohio.


Come attend our networking meetings, and enjoy some quality conversations with other small business owners. Let's grow each other's small businesses - together! 

March Network Newsletter

B2BNetwletter 2019 4.jpg

So, You Missed a Required Minimum Distribution…

Mistakes happen, and when dealing with complicated rules like the U.S. tax code, they aren’t exactly uncommon.

IRS minimum distributionThankfully, the IRS has numerous ways various mistakes can be corrected, and one of the most lenient processes is for missed required minimum distributions (“RMDs”). To say that the missed RMD penalty is stiff (i.e., 50% of the missed amount) is a gross understatement. If you don’t ask for relief in the right manner, the IRS can impose the penalty and interest on the missed amount. Therefore, knowing how to ask for relief for this type of mistake is more important than ever.

Missed RMDs can happen under a variety of circumstances, but the most common are misinformed non-spouse beneficiaries and IRA owners who simply misunderstand the rules and are poorly advised. Most non-spouse beneficiaries are unaware that the first RMD must be issued by December 31st of the year after the IRA owner dies. And sadly, while some are told this shortly after the IRA owner’s death, few custodians will follow-up to make sure the distribution was in fact made. Similarly, while many IRA owners are told to take their first RMD by April 1st of the year following the year they turn 70 ½, in most cases there’s no follow-up to ensure the distribution actually occurred. In either case, the correction process is the same.

The first step is to withdraw the missed RMD. In fact, the IRS will not even consider granting relief from the penalty until this is done. After this is done, you need to report the mistake to the IRS. You do not have to amend previous income tax filings (i.e., Form 1040 series). The income from the RMD is included on the return for the year of distribution, along with the current year’s RMD. Instead, the mistake is reported to the IRS on Form 5329.

You should file Form 5329 along with your annual return for the year the missed RMD was finally distributed. However, you can file it as a stand-alone return. When you complete the Form, follow these steps:

  1. On line 52, report the RMD that should have distributed.
  2. On line 53, report the amount that was distributed before the deadline. 
  3. On the parentheses on line 54, write “RC” (for reasonable cause) and list the amount you want waived. If you are requesting a full waiver, you should enter “0” on line 54.    
  4. On line 55, report the penalty that is due. Again, if you are requesting a full waiver, you should enter “0.”        
  5. Attach a statement to the return explaining how the mistake occurred, what you did to remedy that mistake, and how you are making sure it doesn’t reoccur. This statement doesn’t have to be extremely long.          
  6. Finally, do not pay the penalty! Instead, wait for the IRS to inform you whether the waiver request has been approved. If it’s denied, the IRS will send a notice requesting payment.

Lastly, the IRS guidance on the waiver states that it will be granted if reasonable circumstances exist. Unfortunately, there is no published guidance on what counts as reasonable circumstances and the IRS does not issue public opinions on approved waivers. However, if this is a first-time mistake (even one that covers multiple years) by someone that wasn’t trying to circumvent the tax rules, and the mistake is corrected soon after discovery, chances are good the IRS will grant the waiver. Either way, it can’t hurt to ask. The key is asking in the right manner.

By Jeremy T. Rodriguez, JD
IRA Analyst

In Retirement, Guarantees Matter

A recent study revealed that 79% of Americans plan to continue working once they’re “retired.”1 Why do so many expect to postpone a typical, leisure-filled retirement? One theory points to the decline of pensions and the need to replace the income stream that used to come—guaranteed—from a past employer. Today, only 48% of private sector employers offer defined contribution or traditional defined benefit pension plans.2 And traditional defined benefit plans are disappearing. In 2015, just 20% of Fortune 500 companies offered defined benefit pensions to new employees.3

With private pensions becoming rarer, guarantees in retirement may be few and far between, but it doesn’t make them any less important.

For starters, guarantees might make you happier. Research suggests that retirees get more satisfaction from each dollar of Social Security and pension income than they do from any other source of income.4 That’s because you’re more likely to be confident spending money when you know another check is right around the corner.

Guarantees can also help you be a more confident investor through market ups and downs. Guarantees can be the guardrails you need to stay the course when investing, knowing that you have some protection built into your portfolio. And, with Americans living longer than ever before, guarantees in your overall retirement plan, which can be provided by annuities, may help assure that your money lasts as long as you do. (Guarantees are based on the claims-paying ability of the issuer.)

Just as no two retirements are alike, not all guarantees are alike, so it’s important to understand the options available to you and to identify what, in your own retirement, you want to guarantee.

This educational, third-party article is provided as a courtesy by Michael Froehle, Agent, New York Life Insurance Company. To learn more about the information or topics discussed, please contact Michael Froehle, New York Life Insurance Company at (513) 324-5442 or Neither New York Life nor its agents provide tax, legal, or accounting advice. Please consult with your professional advisor for tax, legal, or accounting advice.

1. Ben Steverman, “Working Past 70: Americans Can’t Seem to Retire,” Bloomberg, July 10, 2017.
2. “Employee Benefits Survey,” Retiree Benefits,” Bureau of Labor Statistics, March 2017.
3. Jerry Geisel, “Fortune 500 Continues to Shed Pension Plans,” Business Insurance, February 22, 2016.
4. “What Makes a Successful Retirement?” Research, February 2014

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