Back to School and Time for a Tune-Up
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Summer is winding down and school is back in session. Between shopping for new school supplies and seeing all the school buses on the road, it's also time to take a look at how the new tax laws affect you this year.
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Here are some things to add to your Fall Tax Tune-Up, with credit to Judith Ward of
Forbes:
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- Revisit your tax withholding. If you are an employee, you may want to adjust your withholding amount and submit a new W-4.
- Examine your paycheck. If you're getting additional money in your take-home pay, you may want to use that to pay down debt.
- Will you itemize or take the standard deduction? New tax laws nearly doubled the standard deduction for individuals ($12,000) and married people filing jointly ($24,000). This will change the way many people choose to file their tax returns.
- Consider your charitable contributions. While the tax laws have changed, philanthropy will continue. "Bundling" or accelerating donations can be part of your charitable giving tax strategy.
These and other changes may impact you and your financial picture in the coming months. We are here to help you with
your Fall Tax Tune-Up. Please
email us or call 630-653-1616 and let us know how we can be of service to you.
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Welcome to Our Newest Team Members
As our business grows, so does our team. We're delighted to introduce our new employees to you.
Jackie Scroggs was promoted to administrative assistant with additional responsibilities in multimedia marketing after helping support MMA & Co. as a seasonal worker. A graduate of Bradley University, Jackie graduated with a bachelor of science degree in interactive media with a concentration in animation and visual effects and a minor in studio art. She previously worked as a graphic designer. In her free time Jackie enjoys listening to music, drawing and painting, reading and exploring local art fairs.
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Nataliya McDonald, CPA, comes to us from Milwaukee where she worked for Pricewaterhouse Coopers, LLP. She brings her skills to MMA & Co. to help clients in both tax and audit. Nataliya has a bachelor's of business administration degree from University of Wisconsin-Green Bay with a major in accounting, and she became a Certified Public Accountant in 2017. She and her husband Brad, a medical student at Midwestern University, now reside in Lisle. In her spare time Nataliya enjoys spending time with family, traveling and ballroom dancing.
We welcome Nataliya to the firm and congratulate Jackie on her promotion.
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Our People Make a Difference
Sometimes it takes an Ironman to make a team strong, and we have more than one Ironman to brag about at MMA & Co. This month, it's
Matt Lupo, CPA, shown here (R) with his wife
Laura and brother-in-law
John Strezewski (L) at the Ironman 70.3 Steelhead in Benton Harbor, MI.
Matt and family competed in this grueling combination of 1.2 miles of swimming in chilly Lake Michigan, 56 miles of biking and running a half-marathon during the event which was held August 12. Courage, stamina, discipline and tenacity... we're glad Matt's on our team.
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We're proud to be involved and engaged in the community, and these upcoming events are on our calendars for the fall:
- The Wheaton Chamber of Commerce is once again hosting (and we are sponsoring) the annual "Roast & Toast," a good old-fashioned barbeque being held at Danada House Sept. 13.
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- Our friends and colleagues at First Trust Portfolio are participating in the FT Cares Foundation's "Light The Torch 5K" coming up on Sept. 28. This night walk/run is being held in partnership with the Wheaton Park District and begins and ends in downtown Wheaton at 120 E. Liberty Drive.
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- CASA of Dupage celebrates 25 years of service to the community with its anniversary gala, slated for October 20 at the Drake Hotel in Oak Brook. The Court Appointed Special Advocates (CASA) of DuPage County provides advocacy for children who are affected by the DuPage County court system.
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- On Dec. 1, Team MMA & Co. will once again take to the streets of Wheaton for the annual Wheaton Lions Club Reindeer Run 5K. This event, held in partnership with the Wheaton Park District, offers a walk/run event filled with fun, post-race refreshments and antlers to the first 1500 runners who register. We are once again a proud sponsor.
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Our friends at
Gallagher Williams-Manny share their monthly "Wellbeing Resources" newsletter with us, and a recent newsletter highlighted the importance of spending time with family, whether that means relatives or trusted friends. We hope this Labor Day holiday weekend you'll have a chance to share time with the people you love. According to the newsletter, getting active, enjoying healthy meals, playing games together (
sans smartphones) and volunteering time are ways to boost our mental
and physical health. We say, cheers to that.
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Ron Austin, CPA
Brian Eisenmenger, CPA
Brian Hagene, CPA
Brett Mathieson, CPA
Mike Moyski, CPA
John Straus, CPA
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