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SMARTVAULT ACCESS Access and upload your tax documents. Access SmartVault DATES TO KNOW May 10th Happy Mother's Day (HI MOM!) May 25th Happy Memorial Day RESOURCES From tax forms and informational worksheets to helpful websites and business tracking forms, we keep you organized! Access Resources MAY OFFICE NEWS 4 Uplifting Drinks to Jump-Start Your Day! From: Success Magazine By: Jamie Friedlander If you’re anything like 50 percent of Americans, one of the first things you do after rolling out of bed each morning is turn on the coffeepot and guzzle down several cups of caffeinated goodness. Although there’s nothing wrong with a daily cup (or two) of coffee - there are even some potential health benefits, like protection against Alzheimer’s and Parkinson’s disease - too much can lead to dehydration and heartburn, not to mention anxiety and diminished sleep quality. Read More

A NOTE FROM LAURA'S DESK

, w e made it to May! This year has been an interesting one to say the least. We do hope that you are staying healthy and hoping by next month we can move to some sort of normalcy. We can hope, yes? That takes me to the quote I have selected for this month. One can hope we all learn something from all this madness – even something small. Can we do with less? What do we miss the most? Who do we need to reconnect with? What really is important to me? My family? Not trying to be philosophical or political – just given the time, something to think about!  A few updates from our office: Federal tax returns are now due July 15th. No extension needed. You just get it. States … most have followed suit to July 15th (key word … most!) Extension deadline remains October 15th IRA and H.S.A. contributions – deadline for 2019 contributions – July 15th Stimulus checks – either directly deposited into your account or checks are on their way. If you have not sent in your tax documents to the office yet – we do have a documentation deadline of May 15th! Please send them in as soon as possible. We have every intention of wrapping up tax season as soon as we are able.  We anticipate receiving some final rulings on different tax aspects as the summer starts. We will pass those along as we review! 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

CARES Act Brings Relief to Individual Tax Payers The recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided relief to tax payers in a number of areas: Tax filing Stimulus payments Charitable deductions Student loan interest IRA distributions Get all of the details from this month's TaxInsight.

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Maximizing Student Financial Aid

What’s on your tax return plays a big role in determining how much financial aid a college offers to students. To get the most financial aid possible, you need to plan out any tax moves several years before applying. READ MORE

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