No More Penny for Your Thoughts
June 06, 2025Treasury Begins the End for Penny Production One-cent coins are expected to stop entering circulation early next year. Businesses will need to round prices up or down. The U.S. government is phasing out the penny which has been in circulation for over 200 years. The Treasury Department will stop putting new pennies into circulation by… Read more »
Try These Habits for a Happy Retirement
June 06, 2025Habits for a Happy Retirement Most people think that planning for a happy retirement is all about their assets. Are the financial assets — pension, 401(k)s/IRAs, Social Security, property, sale of a business, etc. — provide enough income to fund a desired retirement lifestyle? But really that is only half the story. A paper published… Read more »
Trouble in Paradise? A Look at Estate Planning Issues for Jimmy Buffett’s Estate
June 06, 2025“Changes in Latitudes, Changes in Attitudes” Are Definitely Occurring at Jimmy Buffett’s Estate Lessons in estate planning often include how to choose the best person or people to be trustee or executor. In a classic example of “What You Hope Never Happens,” Jimmy Buffett’s widow and former business manager who are co-trustees of the… Read more »
Watch Out for IRS Notices Sent in Error
June 02, 2025IRS Sending Erroneous CP161 Notices for 2024 Form 1041 Filings Programming Issue Triggers Incorrect CP161 Notices for Some 1041 Trust Returns The IRS is erroneously issuing CP161 balance due notices for certain 2024 Form 1041 trust returns. These notices incorrectly assess estimated tax penalties in cases where no payments were required—such as trusts that elected… Read more »
How to Avoid the Social Security Swindle
May 20, 2025It’s Real-The Big Scam Called the Social Security Swindle. The Social Security Administration (SSA) continues to be the target of bad players. The latest highlights how sophisticated the creators of these scams are becoming. What happens is that you receive an email that appears to be from the United States (US) Social Security Administration, the… Read more »
Executive Order Ends Use of Paper Checks in Federal Government
May 07, 2025Put Away Your Checkbook-IRS Won’t Issue or Accept Paper Checks After Sept 25, 2025 Modernizing Payments To and From America’s Bank Account, Executive Order In March 2025, President Donald J. Trump signed an Executive Order to modernize how the government handles money, switching from old-fashioned paper-based payments to fast, secure electronic payments. The Order mandates… Read more »
Estate Planning in Turbulent Times
May 07, 2025Estate Planning in Turbulent Times: A Guide Turbulent Times Are the Perfect Time to Do Estate Planning The ups and downs of the stock market can make people feel uncertain about their financial future. During periods of market volatility, estate planning might not be top of mind. However, it’s important to ensure that your current… Read more »
Hey Batter Batter! Swing…on Out to WinTrust Field with AJM&A
May 07, 2025Time to Play Ball! Madonia Night at the Schaumburg Boomers Join us on Friday, July 25, 2025, at WinTrust Field for an amazing night of baseball fun at the Schaumburg Boomers. Cheer on our local baseball team while they face off against the Joliet Slammers. Plus, it’s Star Wars night so you can meet some… Read more »
We Made “The Perfect Blend” with Our Coffee Roasting Client
May 07, 2025Poppa Mac’s Roastery Helped Us Create A Perflect Blend to Share with Clients Our firm is excited to unveil a new promotional giveaway in collaboration with our client and friend, Poppa Mac’s Roastery. Working with the Evanston roaster, we have created a bag of locally roasted coffee in whole bean or ground form. We call… Read more »
Estate Planning’s Biggest Mistake is Just Signing Documents
April 09, 2025How To Avoid Estate Planning’s Biggest Mistake-Just Signing Documents Signing a will and living trust is not enough to protect you and your loved ones. You need an estate plan. Just so you know, Estate Plans are more than a document. One of the biggest mistakes people make with estate planning is to assume that… Read more »