|
|
|
|
|
To Learn More
| | |
To learn more about the tax changes anticipated for 2014, please call us at 630-653-1616. Our partners and staff are ready to help you with your tax planning.
|
To Contact Us:
211 S. Wheaton Avenue, Suite 300 Wheaton, IL 60187 630-653-1616
|
In Memoriam
Our good friend Glenn Auble passed away on April 3, 2014. Glenn was a long-time resident of Bartlett, an Ambassador Emeritus of the Wheaton Chamber of Commerce and a past president and devoted member of the
Lions Club of Wheaton.
Glenn reigned as the Lion's Club's mascot at last year's Reindeer Run. In spite of the freezing temperatures, Glenn zipped around the race course in a four-wheeler dressed as a lion.
A fond memory of Glenn includes his swearing in past boards of directors of the Wheaton Chamber with these words: "And do you so promise to support the chamber through your leadership on the board without whining or complaining?" Most of those being inducted answered, "I do."
Memorial contributions may be made to the Wheaton Lions Charities, P.O. Box 296, Wheaton, IL, 60187.
|
DWA Grants Funds to Local Non-Profits
In addition to introducing new board members Richard Card of Jeans and a Cute Top, Mike Burke of the Bank Restaurant, Beverly Fishleigh from Tasting DeVine, Paul Rodriguez from Suburban Music and Ronald Diener, Jim also presented checks on behalf of DWA to Family Shelter Service, Outreach Community Ministries and DuPage County Historical Museum Foundation.
 | |
Mayor Mike Gresk enjoys a light moment with DWA President Jim Mathieson
|
The newly elected and appointed board of directors begins their term in May, and Jim will continue to serve as president of the board in his second year of a two-year term.
[Photo: Courtesy of Paula Barrington, Downtown Wheaton Association]
|
|
|
| Save on Summer Vacation With a Few Planning Tips |
|
 After one of the harshest winters we've had in years, many of us are thinking about summer vacations. Whether you're considering domestic travel or a trip abroad, here are some ways to save while still achieving your dream vacation:
- Do your research. Having a flexible travel schedule can give you options to save. With an assortment of travel websites you can determine what days and destinations work best for you.
- Explore customer loyalty programs. For example, AAA offers discounts to members at hotels ranging from 5 to 20 percent.
- Understand the terms of your credit card rewards program. Leveraging the use of your card wisely (and consolidating onto one card) can add up to savings.
- Use your e-mail account. Signing up for e-mail notices from your hotel awards program or Groupon may save you some dollars.
- Consider rentals vs. hotels. Some vacation rental properties can save you money, not only on cost of accommodations but the cost of dining out.
Whatever your plans, it pays to plan early, according to David McMillan of Bankrate.com. Safe travels!
|
|
Company Stock Sale Offers Options for More Favorable Tax Rates
A special section of the tax law allows you to pay long-term capital gain rates, a more favorable rate than ordinary income tax, when you sell shares of your employer's stock in your employer-provided plan.
 This provision for "net unrealized appreciation" (NUA) or the difference in value between the cost basis of the shares (what you bought it for) and the current value held in a tax-deferred account, is only applicable if you meet some provisions:
- A triggering event (separation from service with employer, being age 59 �, total disability or death)
- You had to buy the stock with pretax contributions and employer matches, and your entire vested balance in the plan must be distributed in a lump sum within one tax year
- You must distribute all assets from all qualified plans at your former employer, not just the one that held shares of stock
For example, if your 401(k) contains $100,000 of company stock which you bought with pretax contributions for $10,000, you have $90,000 of net unrealized appreciation. If you chose to take out the stock under the NUA tax rules, the $10,000 is deemed a taxable distribution from the 401(k) and the $90,000 NUA and any further appreciation is not taxed upon distribution until it is sold.
For more information on this potential tax benefit, please consult your MMC & Co. advisor.
|
|
Our People Make a Difference
Our firm keeps growing--in more ways than one.
 On March 22 at 4:09 p.m. we welcomed Logan Joseph Mathieson into the world. Logan weighed in at 6 pounds, 8 ounces. Baby, parents Brett and Betsy Mathieson and big sister Lyla are all doing well. And grandparents Jim and Gail are pretty delighted, too. Logan will always be known for arriving at the height of tax season.
 | |
Talyr Guerrero and Adam Fuchs from Wheaton Bank & Trust enjoy TPC's Vine Event
|
Talyr Guerrero represented MMC & Co. at the Teen Parent Connection Vine event, held April 11 at the beautiful Danada House.
MMC & Co. partnered with Teen Parent Connection last Christmas to help raise funds for this non-profit organization whose mission is to serve the community through education for teen parents as they navigate the challenges of both parenthood and adolescence.
The Vine event raised funds to provide essential support for more than 600 young families throughout DuPage County.
|
|
Your Trusted Advisors
We did it--we lived through another tax season!
 You may not know the lengths we go to in order to make sure your own "tax season" goes smoothly. Some of us here at MMC & Co. even shorten our beauty routine--see Marcia Winegard, pictured here with her tax season 'do that saved her time on primping so she could get to the office early and help with our clients' tax returns.
Our commitment to you is year-round. Whether we're working on an individual or family tax return, assisting a long-time business owner with bookkeeping and financial reports or preparing for a school district audit, our time and attention are focused on our clients 365 days a year. We continue to appreciate your referrals and welcome your feedback.
|
|
|
The Team at Mathieson, Moyski, Celer & Co., LLP
Jim Mathieson, CPA, Partner
Mike Moyski, CPA, Partner
Mike Celer, CPA, Partner
Ron Austin, CPA, MST, Partner
|
|
|
|
CIRCULAR 230 NOTICE: IRS regulations require us to advise you that, unless otherwise specifically noted, any federal tax advice in this communication (including any attachments, enclosures, or other accompanying materials) was not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of avoiding penalties; furthermore, this communication was not intended or written to support the promotion or marketing of any of the transactions or matters it addresses.
|
|
|
|
|
|
