"You can’t change what’s going on around you until you start changing
what’s going on within you." Author Unknown
SMARTVAULT ACCESS
Access and upload your
tax documents.
DATES TO KNOW
July 4th
Happy Independence Day
Office closed July 2nd - 3rd
July 15th
Happy Tax Day! Tax Returns Due
RESOURCES
From tax forms and informational worksheets to helpful websites and business tracking forms, we keep you organized!
SUMMER HOURS
Effective June 1st, our office will be closed on Friday's through
the month of August.
JULY OFFICE NEWS
The Perfect Weekend Day in Quarantine

Just because we’re staying home doesn’t mean we can’t still have wonderful days - you can create a distinction that makes Saturdays and Sundays feel both fresh and invigorating. Here's our guide to having the perfect weekend day in quarantine!

Read more
www.success.com
A NOTE FROM LAURA'S DESK

So, let’s talk taxes – and some midyear planning ideas/thoughts for 2020.
  • If you received a stimulus check, please keep Notice 1444 that came with it or shortly after. We will need that info for the 2020 returns.
  • USE Smart Vault all year long – upload items during the year! Real estate tax bills. School registration fees. Closing statements. You get the idea! Estimated tax payment records. ALL. KINDS. OF. THINGS.  Make sure you upload to TY2020-Source Documents.
  • If you are collecting unemployment benefits, you will receive a 1099G. Make sure to keep all info regarding this income for 2020.
  • Tax projections – we will start ramping these up late August. Contact Denise for items needed.
  • If you have a “side hustle” or started one this year – let us know. We have several worksheets to help keep you organized. 

Side note – many of you have asked about the crazy endurance event I am participating in in August. Training is going well and as I type this; the event is still ON! Fingers crossed. Remember, we can all do way more than we believe we can. Thanks for the words of encouragement! 

Here’s to a great July and a Very Happy 4 th of July! Stay healthy and carry on!! 
Laura M. Mraz, EA -  LMM & Associates, Inc.
11017 N. Woodstock St., P.O. Box 741 | Huntley, IL | 847.458.2460
Tax Insight News
Hobby vs. Business - What's the Difference?
If you have income from sources other than your job, how do you know whether it's income from a business or hobby?

The distinction between the two makes a big difference in your taxes. Look at the following nine factors when making the determination. Do you . . .
Starting a Business?
Quick tips everyone should follow
Starting a business is exciting and nerve-wracking all at the same time. The “to do” list can seem never-ending. Below are a few reminders to help you stay on track. 
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