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To Learn More
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To learn more about the tax changes anticipated for 2013, please call us at 630-653-1616. Our partners and staff are ready to help you with your tax planning.
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Did you know that we offer electronic delivery of tax returns and other financial documents to a secure, private portal? For more information, contact Cindy Gunderson via email or call her at 630-653-1616.
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To Contact Us:
211 S. Wheaton Avenue, Suite 300 Wheaton, IL 60187 630-653-1616
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Just a Note...
 Our office observes "summer hours" until Labor Day. We are open from 8:00 a.m. until 5:00 p.m. Monday through Thursday and from 8:00 a.m. to 2:00 p.m. on Fridays.
If you need us for something special on a Friday afternoon, just let us know ahead of time. We'll be happy to accommodate you. |
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Mark Your Calendar for These Upcoming Events...
Wheaton Chamber of Commerce Steak Fry
5:30-9:30 p.m. Wednesday, Sept. 11
Danada House
3S501 Naperville Road
Wheaton, IL
Registration:
We are proud to be the Venue Sponsor of this year's Steak Fry!
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Lions Club of Wheaton
Candy Day
September 13 & 14
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Wheaton Wine & Cultural Arts Festival
11:00 a.m. to 6:00 p.m.
Saturday, Sept. 21
Memorial Park, Wheaton
Sponsored by the
Downtown Wheaton Association and the
Wheaton Park District
For information and to buy tickets, click here.
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Lions Club of Wheaton
Reindeer Run 5K
Saturday, Dec. 7, 2013
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Travel Tips for Last-Minute Vacations
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 With Labor Day around the corner, you may be planning a last-ditch vacation before everyone gets back into school and business. Whether you've planned a trip or you're dreaming of your next vacation, here are some tips from some of the savviest travelers on the planet, interviewed by Laura Manske for the Huffington Post Travel blog:
- If you're leaving from an airport parking lot, click a photo of your location sign before you depart so you'll remember where you parked.
- Save money and time by carrying a re-usable (empty) water bottle which you can fill with water after you go through security at the airport.
- Make a travel checklist, especially if you're a frequent business traveler. Include phone chargers, itinerary and a book or a magazine for times when you can't open a Kindle on the plane or your battery runs low.
- Never travel hungry.
- Bring business cards with you everywhere you go... you never know who you're going to meet!
Enjoy these last lovely days of summer and please let us know about where you traveled this summer. If you send us your favorite vacation photo, we'll post some in our next e-newsletter! (Please include your name and your destination.) |
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Education Tax Breaks Provide Relief for Families and Learners
 Tax breaks for educational expenses can be valuable--and we can help you maximize your tax savings. However, getting the most from these incentives requires careful planning. Some of the incentives include:
- The American Opportunity Tax Credit (AOTC). This provides a maximum of $2,500 per year for all four years and can be claimed for two students per family.
- Lifelong Learning Credit. Twenty percent of eligible education costs up to a $2,000 credit per year can be claimed for non-degree programs and part-time students.
- Higher education deduction. This is an "above-the-line" deduction, rather than a credit, and reduces taxable income for qualified tuition and expenses up to $4,000.
- Section 529 Plans or qualified tuition programs (QTPs). These more-inclusive plans allow you to prepay or contribute to an account for post-secondary education expenses with tax-free earnings.
- IRAs. Individuals under 59 1/2 may take distributions from their IRAs without the 10% penalty if used for qualified higher education.
For more details about each of these opportunities, read "Education Tax Breaks Provide Relief" on MMC & Co's website. You can also call us at 630-653-1616 or contact us at [email protected].
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Our People Make a Difference
 We're delighted to welcome Meaghan Coltharp to our team as a new staff accountant. Meaghan comes to MMC & Co. from Olsson Roofing Company in Aurora where she was the accounts payable administrator. Prior to working for Olsson, she served as an audit intern.
Meaghan holds a bachelor's degree in accounting and a Master of Business Administration (MBA) with a concentration in accounting, both from Aurora University. She's currently working toward her certification as a Certified Public Accountant (CPA).
Meaghan will be performing general accounting duties for both the taxation and the auditing sides of the firm.
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 Brett Mathieson, CPA, was recently appointed by the City of Wheaton's Mayor Mike Gresk to serve on the City of Wheaton Police Pension Fund Board.
"Brett brings the necessary skills in accounting and finance to be a real asset to the Police Pension Board," said Mayor Gresk following Brett's appointment. "We are pleased to have him serve on this important city commission."
The Police Pension Fund is created by Illinois state statutes to control and manage the pension fund of the Wheaton Police Department. The board consists of five members whose duties include investing funds, enforcing contributions, keeping records of the board's meetings and other duties related to managing the Police Pension Fund.
 "I was honored to receive this invitation from the Mayor," said Brett, who also serves as treasurer of the board of directors of the Wheaton Chamber of Commerce.
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One out of four students in District 200 needs some form of financial assistance, according to school officials. So the Rotary Club hosted a "Pack the Backpacks" party to stuff more than 500 backpacks for young people who are returning to school. The club purchased 1,700 backpacks, 1200 of which were given to the Humanitarian Service Project who distributed them throughout the county. Local businesses contributed school supplies and financial gifts through the Chamber.
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From left: Kerry O'Brien, Executive Director of the Wheaton Chamber of Commerce; Jim Mathieson, CPA, and CUSD200 School Board Member; Mike Celer, CPA; Lori Belha, President, Rotary Club of Wheaton
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"Wheaton Rotary was delighted to have hosted this wonderful event, which brought in people from local businesses, the school district, our Rotary Club and school district retirees," said Dr. Belha, president of the Rotary Club of Wheaton and a retired school administrator. "We are blessed to have a community that supports the children of this school district and values education."
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Packing backpacks at Arrowhead are (L to R) Joanne Panopoulos, Assistant Superintendent for Student Services; Jim Mathieson; and Dr. Brian Harris, Superintendent of Schools
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If you'd like to contribute to this project, please contact Erica Loiacono at [email protected].
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Your Trusted Advisors
We've been busy here at MMC & Co. with school district audits and serving clients whose work continues throughout the summer months. Many thanks to those of you who have sent referrals our way. Our success is a direct result of the trust you place in us, and we look forward to continuing to serve you in the months and years ahead.
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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
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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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