Counties are making changes that will benefit the seniors when it comes to real estate taxes. To date Cook County increases the Homestead Exemption to $10,000 (this applies to all owner occupied residences), the Senior Exemption increases to $8,000 and the Senior Freeze income threshold increases to $65,000. It appears that all counties will increase [...]
IRS ANNOUNCES JANUARY 29, 2018 TO BEGIN ACCEPTING E-FILES. Don't let that stop you! Merlak Tax officially starts tax appointments on January 15, 2018. If you have all your forms its not too early to schedule your appointment. Click here for our online scheduler or call 779-220-9608. IMPORTANT- IRS ANNOUNCES refunds will be delayed until [...]
Do you claim the child tax credit and/or earned income credit? Don't expect an early refund. Read IRS news on when to expect your refund by clicking here.
Here are some tax tips from the IRS to review and act upon prior to 12/31/2017. CLICK HERE for full article. I have received numerous calls on whether to prepay real estate taxes prior to yearend. It appears that most counties are allowing this. We have run out of time to analyze each specific situation [...]
The IRS has several published new topics that I feel are important to my tax clients. The first that I am sharing is on E-Filing and using Direct Deposit. CLICK HERE to read the full IRS article.
The tax code is complicated especially for retirees. Taxes could be your biggest expense in retirement. Would it make sense to know what this expense truly is and how you may be able to reduce it? Complimentary reviews through December. Schedule your power session today! Click LITH or ELM to set a time. READ MORE: https://www.fool.com/taxes/2017/07/09/how-to-minimize-taxes-in-retirement.aspx
Divorce or Separation May Affect Taxes Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have on their taxes. Alimony payments paid under a divorce or separation instrument are deductible by the payer, and the recipient must include it in income. Name or address changes and individual retirement [...]
The markets marched ahead last week with the S&P 500 and the NASDAQ reporting all-time records, albeit just slightly above previous highs.[i] The S&P rose 1.43% over last week, while the NASDAQ was up 2.08%.[ii] The Dow gained 1.32% and the MSCI EAFE gained 0.14% for the week.[iii] Volatility subsided as the CBOE Volatility Index, [...]
An important part of any retirement plan is your social security. Do you know what changes have been made and how they may impact you? Click here https://03aabf.a2cdn1.secureserver.net/wp-content/uploads/2017/02/colafacts2017.pdf to learn more!!! Still have questions? Call and set a time to talk to me. Carla Merlak and/or Merlak Tax Advisory Group, Inc. are not affiliated with or [...]
