top of page
Search


Congress Passes New Secure 2.0 Act
President Biden signed the SECURE 2.0 Act into law on December 29th of 2022. This $1.7 trillion omnibus spending bill has over 100...

Jim Richter
Jan 17, 20235 min read


IRS Suspends New 1099-K Reporting Requirements
The American Rescue Plan Act of 2021 issued a new requirement for all online payment services like Paypal, Venmo, eBay and Etsy, to issue...
Michael Baumeister
Jan 12, 20233 min read


Tax Deadlines and What You Need to Know for the 2022 Tax Season
As tax season approaches, we wanted to reach out and share a few important dates and deadlines for 2023. Please see the important dates...
Michael Baumeister
Jan 5, 20234 min read


The 3 Most Misunderstood Tax Effects of a Roth Conversion
We’ve written extensively about the benefits of the Roth IRA. The Roth IRA is one of the most powerful tools available for creating...

Jim Richter
Nov 10, 20225 min read


Inflation Causes Major Shifts in Tax Code for 2023
Just a few weeks after the announcement of record-breaking Social Security increases, the IRS announced their own set of record-breaking...
Michael Baumeister
Oct 27, 20223 min read


Inflation Causes Largest Social Security Increase in 41 Years
On October 13th, the Social Security Administration announced that the cost-of-living-adjustment (COLA) for Social Security benefits...
Michael Baumeister
Oct 20, 20223 min read


How Does the IRS Calculate Penalties and Interest?
The deadline for taxpayers who filed an extension this year is Monday, October 17th. Keep in mind that filing an extension does not...
Michael Baumeister
Oct 6, 20224 min read


Why Does the Federal Government Raise Interest Rates?
Federal Reserve Bank officials raised interest rates by 75 basis points last week. This was the third consecutive interest rate hike by...
Michael Baumeister
Sep 29, 20224 min read


Fourth Stimulus Payment to be Issued for Illinois Residents
Many Illinois residents will begin receiving a “fourth” stimulus payment in the coming weeks. The Illinois Family Relief Plan grants...

Jim Richter
Sep 20, 20224 min read


Mortgage Rates and the Economy
Mortgage rates surged to 6.02% this week. This is the highest rate we’ve seen on 30-year fixed rate mortgages since November 2008, and...

Jim Richter
Sep 15, 20224 min read
My COVID Story
Two weeks ago, I was driving into work on September 1st and listening to a song by CeCe Winans called “The Goodness of God.” As I was...

Jim Richter
Sep 13, 20227 min read


Student Loan Forgiveness: Your Questions Answered
On August 24, 2022, President Biden announced debt forgiveness for federal student loan borrowers. He also announced a final extension on...
Michael Baumeister
Sep 1, 20225 min read


The Inflation Reduction Act
President Biden signed the Inflation Reduction Act of 2022 on August 16th. The bill is currently the most expensive climate change agenda...
Michael Baumeister
Aug 24, 20226 min read


Social Security Payments Set To Rise by $2300 Next Year
The Social Security Administration’s projected 2023 cost-of-living adjustment (COLA) is projected to hit 11.4% next year if the current...

Jim Richter
Aug 11, 20223 min read


Are We In a Recession?
A recession used to be defined as two consecutive quarters of negative Gross Domestic Production (GDP) growth, as measured by the Bureau...

Jim Richter
Aug 4, 20224 min read


The Roth IRA (Part 3 of 3)
This is the third article in our series covering the value of Roth IRAs. To read the first article click here. To read the second article...
Michael Baumeister
Jul 27, 20224 min read


The Roth IRA (Part 2 of 3)
This is the second article in our series covering the value of Roth IRAs. To read the first article, click here. Contributing to a...
Michael Baumeister
Jul 18, 20224 min read


The Roth IRA (Part 1 of 3)
The two certainties in life are death and taxes. While we have little control over the first, we have significant control over the...
Michael Baumeister
Jul 7, 20226 min read


What are I Bonds?
With inflation increasing at alarming rates, investors are looking for ways to counteract the slaughter of their dollar. With most bank...
Michael Baumeister
Jun 30, 20224 min read


Inflation - Who Does it Benefit?
Throughout 2022, we've heard a multitude of terms to describe inflation: shrinkflation, stagflation, and slumpflation to name a few. The...

Jim Richter
Jun 23, 20224 min read
bottom of page