Tuesday, October 15, 2019, began the “Annual Enrollment Period” (AEP) for 2020. There are many changes for the health and drug plans in 2020 so you will need to be a little more involved in your decision-making process: Medigap/Medicare Supplemental policy plan “F” will be phased out starting January 1, 2020. For those [...]
If you own mutual funds in a taxable account, you probably know about capital gains which get reported on your tax return. During tax season I always have a few clients that complain about having to pay tax on the capital gains when they didn't even sell the fund AND they lost money during the [...]
IRS Tax Tip 2019-145, October 17, 2019 There are two education credits that can help taxpayers with higher education costs: the American opportunity tax credit and the lifetime learning credit. There are several differences and some similarities between them. Taxpayers can claim both benefits on the same return, but not for the same student or same qualified expenses. Here's a [...]
INGREDIENTS: 2 tbsp. extra-virgin olive oil 1 (2-lb.) butternut squash, peeled, and seeded, and cut into 1" cubes 2 medium carrots, peeled and chopped 2 large shallots, chopped Kosher salt Freshly ground black pepper 2 cloves garlic, minced 1 tbsp. packed brown sugar 2 tsp. ground ginger 1 tsp. curry powder 4 c. low-sodium vegetable broth 1 c. apple juice 1 c. water 1/2 c. pumpkin puree [...]
MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY CARLA J MERLAK - SEPTEMBER 2019 QUOTE OF THE MONTH “The more we do, the more we can do; the more busy we are, the more leisure we have.” WILLIAM HAZLITT SUNNIER PROSPECTS FOR WORKING AS A SENIOR In recent years, a steady stream [...]
To: All taxpayers who have outstanding Illinois tax debt The Illinois Tax Delinquency Amnesty Act provides the opportunity for taxpayers to pay outstanding eligible tax liabilities and to have eligible penalties and interest forgiven on taxes paid in full during the amnesty period. What tax liabilities and periods are eligible for the 2019 Illinois Tax [...]
Milllennials, building the resources you need to help you with your life goals isn’t complicated, but the sooner you start, the better. If you wait until you are in your 40s or 50s, you’ll have to save and invest a much larger portion of your income. 9 tips to Start planning your future. The most [...]
New withdrawal options now available — (September 15, 2019) We’re pleased to announce that all participants now have more options when seeking to withdraw retirement savings from their TSP accounts.* Recent changes improve withdrawal options for TSP participants as discussed in this notice: TSP changes *https://www.tsp.gov/whatsnew/Content/index.html#newoptions Investment advisory services offered through [...]
What is probate and how to avoid it: Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Merlak Tax Advisory Group, Inc./Carla Merlak are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed [...]
Stacy Stusowski discusses the importance of a will, trust and powers of attorney no matter what age you are: Watch video
