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To Learn More
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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.
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To Contact Us:
211 S. Wheaton Avenue, Suite 300 Wheaton, IL 60187 630-653-1616
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A Thank-You from
CUSD 200
 [The following is a note from Joan Bonnamy, curriculum coordinator for Community Unit School District 200]
"Dear Judges,
Thank you so much for volunteering to judge presentations at the District 200 8th Grade Entrepreneurship Expo at IIT on Monday, June 2nd. It was such a positive experience for our students to engage in dialogue with adults from the Wheaton business community. As a result of participating in this authentic assessment - students performing real-world tasks that demonstrate meaningful application of essential knowledge and skills - you have played a key role in fostering the development of our students into the productive citizens of tomorrow. Your questions and comments were a learning experience in and of itself for our students. On behalf of CUSD200, thank you once again, and we hope that you enjoyed the Entrepreneurship Expo as well!"
Joan Bonnamy
Curriculum Coordinator
Wheaton-Warrenville CUSD 200
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CUSD 200 students "pitch" their business plan to a judge
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Talyr and Meaghan join other Wheaton Chamber of Commerce members to judge Entrepreneurship Expo
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| New Name for Long-Established Firm |
 There's a new name for our long-established firm: Mathieson, Moyski, Austin & Co., LLP. Our name change reflects the contributions of Ron Austin, CPA, who has been a full partner since 1996. This change also reflects the departure of Mike Celer who has left the firm to pursue other interests outside of public accounting. "We are excited about the new name which integrates the name of Ron Austin, our youngest partner and someone who has contributed to moving our firm into the future," said Mike Moyski, CPA, and partner of the firm. "Ron has led the firm in adapting technology to our office, providing support for our clients and our staff. This name change gives us the opportunity to acknowledge Ron's leadership in the firm." Clients and other important constituents, including our community connections, can look forward to seeing the roll-out of our new logo throughout the coming weeks. |
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Travel & Entertainment Record-Keeping Still a Priority for Small Biz
 A common source of audit conflict between the IRS and small businesses is the documentation of travel and entertainment expenses. The IRS often has the edge in these disputes because the tax law spells out detailed rules about how these expenses must be verified and documented. Fortunately, relief is available due to a wrinkle in the tax law that waives otherwise rigorous rules when documenting expenses below a minimum dollar amount.
From the IRS' perspective, employees do not need receipts for non-lodging expenses under $75 reimbursed by their employers. Although this is a big break, it doesn't mean that all record-keeping can be ignored. Receipts are still needed for all lodging expenses (even if the cost is under $75), unless the company pays traveling employees the IRS-approved per-diem rate. Employees incurring the expense still have to record the time, place, business reason, and amount of each travel and entertainment expenditure unless a per-diem is used. And remember, a credit card statement does not constitute a receipt.
With this in mind, small business owners can consider reviewing their own T&E record-keeping and substantiation procedures. Internal tracking of expenses still makes sense, too. For example, you may want to require employees to show you receipts for non-lodging expenses costing less than $75 before approving them, even though businesses are not required to keep them.
If you have any questions about travel and entertainment deductions and record-keeping for your own business, please give us a call.
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Our People Make a Difference
On June 2, our people made a difference with the middle-school students of Community Unit School District 200.
 | | Talyr Guerrero (L) and Meaghan Coltharp |
That day, nearly 200 eighth-grade students from throughout the school district gathered at the Illinois Institute of Technology Rice Campus in Wheaton to demonstrate their projects for an Entrepreneurship Expo. Invited by the Wheaton Chamber of Commerce to participate as judges, we sent Talyr Guerrero, MBA, and Meaghan Coltharp, CPA, as our ambassadors to evaluate the projects and the "pitches" of these young students.
"We were so impressed with the caliber of the ideas and projects these young people presented," said Meaghan. From tried-and-true lawn care and baby-sitting businesses to high-tech tracking device and technology companies, Meaghan said these young people showed initiative and innovation.
"As representatives of our firm and members of the Chamber, we were delighted to participate in this program," said Talyr.
Judges scored the students based on usefulness, execution, market analysis, speaking and visual presentation. The winning school, Franklin Middle School, was awarded a $1,500 technology grant from the N.E.W. 200 Foundation for the school to purchase a technology device that will support the Entrepreneurship Class.
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Your Trusted Advisors
 We hope you're enjoying your summer--time off, vacations and barbeques, an opportunity to be with family and friends.
Even during these lazy days of summer, we continue our commitment to supporting you and your families and businesses. 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 you, our clients. We appreciate your business and welcome your referrals.
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The Team at Mathieson, Moyski, Austin & Co., LLP
Jim Mathieson, CPA, Partner
Mike Moyski, CPA, Partner
Ron Austin, CPA, MST, Partner
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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.
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