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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:
Mathieson, Moyski, Celer & Co., LLP 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. |
Lyrics To the tune of "Take Me Out to the Ball Game"
By Talyr Guerrero Take me to my accountant for all of my financial needs for businesses, non-profits, and schools too, individuals we do it all! So let's root, root, root for the audits! Taxes and compilations too. For it's Mathieson, Moyski, Celer and Company in downtown Wheaton!
(Yes, we know it doesn't totally rhyme but hey, we got Third Place! And you've gotta love anyone who can throw "compilations" into a song...) |
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| Lazy Days of Summer Are Good Time to Catch Up with Goals |
 Here we are in those lazy days of summer... a time when people take some time off, go on vacation, maybe even go on "summer hours." Between all those picnics and barbecues, summer is also a great time to catch up with your financial goals.
In the July 9 issue of the online "Money" section of U.S. News & World Reports, reporter Kimberly Palmer shares some tips for conducting "Your Summer Money Check List." Some of her recommendations include:
- Rethink your big financial goals you set back in January. We're half-way through the year... how are you doing?
- Cut your energy costs. As temperatures soar, so does the electricity bill. Set the thermostat a little higher during the day, draw the drapes and plug up any energy leaks you may have.
- Make smart summer vacation plans. Ms. Palmer has some great ideas for keeping vacation costs low, including traveling light (save the baggage fee), packing your own food and flying at off-peak times. She also recommends looking for free summer activities offered by local governments and libraries.
Other ideas include reviewing your homeowner's or renter's insurance policy and throwing a "paperwork party" to get control of your filing. Now also might be a good time to make sure your vital records such as birth certificates and marriage licenses are up-to-date.
Whatever you plan to do, we hope you have a safe and pleasant summer.
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Second Homes Require Tax Planning
 We're happy to remind you that if you own a second home, mortgage interest and real estate taxes for both the primary and secondary residences are tax deductible. Qualified residence interest is deductible on up to $1.1 million of acquisition and home equity indebtedness that is secured by your residences.
However, there are some rules when it comes to selling your home or homes. You may be able to exclude up to $250,000 in gains on the sale of your home (or $500,000 for married couples filing jointly). In order to qualify, you need to have owned and lived in the house for a minimum of two years in the five years prior to the date of sale. Additionally, you cannot take the exclusion more than once in any two-year period.
If you choose to rent out your second home as a rental property, you can claim some deductions contingent upon how many days you rented the house and how many days you occupied the house yourself. If you rent the house for fewer than 15 days, you do not have to claim the rental fees in your gross income. Some deductions such as mortgage interest and real estate taxes may still apply.
For more information and assistance in planning for your taxes related to second homes, please contact us--we're happy to help.
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Our People Make a Difference
Summer is more than vacations and barbecues--it's baseball season! And the Carol Stream Chamber understands that whether you're a Sox fan or a Cubs fan, summer is a great time to "pitch" your business.
Mathieson, Moyski, Celer & Co. was proud to receive third place in the 9th Annual Pitch Your Business luncheon held June 12th at the Holiday Inn Hotel & Suites in Carol Stream. This lively luncheon included pitchers and fans who were invited to vote on the presentations.
Our own Sean LaFortune and Talyr Guerrero represented the firm and did us proud. Talyr's rendition of "Take Me Out to the Ball Game" with original lyrics (see side-bar to the left) netted the firm a big win--and this was only our second year in the competition!
 | | Talyr accepts her prize on behalf of MMC & Co. |
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Luanne Triolo Newman, Executive Director of the Carol Stream Chamber, poses with Sean, Ron Austin & Talyr
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Your Trusted Advisors
Business continues to grow here at MMC & Co. thanks to the many referrals we receive from clients, colleagues and friends. 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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