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Five Year-End Business Deductions Schedule Your Tax Planning Call Read "Staying Out of the 'Danger Zone' of the New Small-Business Deduction"

Contact us Phone: 800-961-0298 Fax: 847-929-9134 Email: Info@monotelo.com Give us a call Schedule an appointment Schedule an Appointment Client Portal resources Need help with the portal? Click below to get help. View Resources Tax tools & tax tips Refund Tracker W-4 Withholding Calculator Documents checklist Tax Bracket Calculator File Upload Our Team Recent posts & news Social Security Changes for 2026: A Complete Guide for Retirees and Working Beneficiaries Social Security plays a crucial role in the financial security of more than 70 million Americans. For 2026, the Social Security Administration has announced several important updates affecting retirees, workers claiming early benefits, SSI recipients, and individuals with disabilities. Below is a comprehensive overview to help you stay informed and plan financially for the year ahead. 1. A 2.8% Cost‑of‑Living Adjustment (COLA) The biggest change for 2026 is the 2.8% COLA appl Key Tax Season Deadlines for Monotelo Small Business Clients in 2026 As the 2026 tax season gets underway, our goal is to ensure that all of our small business clients experience an easy and stress-free filing. The following dates highlight essential deadlines for S-Corps, partnerships, and C-Corporations—these are intended to keep you organized, help you avoid penalties, and clarify what you can expect from us. Feel free to bookmark this page or revisit it during the season; it's your key resource for the most important tax milestones. Key Important Tax Dates for Small Businesses in 2026 As a small business owner, staying on top of tax deadlines is essential to avoid penalties and keep your operations running smoothly. Below is a clear timeline of key dates for the 2026 tax season, along with an important update on 1099 reporting requirements. January January 15, 2026 – Fourth-quarter 2025 estimated tax payment due (Form 1040-ES). January 31, 2026 – Deadline to issue W-2 and 1099 forms to employees and contractors. Since January 31 falls on a Saturday Important Tax Updates for 2026 As the 2025 tax season approaches, taxpayers and businesses must stay informed about critical updates and deadlines to ensure a smooth filing process. Here’s a comprehensive guide to help you navigate this year’s tax requirements. Key Dates Individual Tax Filers: Jan. 31, 2026:  Deadline for employers to furnish Form W-2 to employees and for businesses to provide certain Form 1099s to contractors and recipients. Late Jan. 2026 (TBD):  The IRS is expected to begin accept A Journey Toward the King Merry Christmas! As we gather with family, reflect on the year behind us, and look forward with hope, we want to welcome you to this year’s Christmas message. At Monotelo Advisors, it is a joy and a privilege to walk alongside you—through every season and every milestone. This Christmas, we invite you to pause with us and revisit one of the most awe‑inspiring moments in history. The night a star lit the sky and hope entered the world: The Star That Changed Everything I s Gratitude, Generosity, and the Power to Change Lives As Thanksgiving approaches, many of us pause to reflect on what we’ve been given: family, health, opportunities, and the simple blessing of food on our Thanksgiving table. Gratitude is more than a seasonal sentiment; it’s a transformative force that shapes our mental health, relationships, and even our financial decisions. Why Gratitude Matters Research consistently shows that people who intentionally count their blessings live happier lives and experience less depression View More Stay up to date with the latest tax and market analysis. Subscribe to receive our weekly market and tax analysis. Site Title

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Want to file your taxes early? Filing Your Tax Return Early Could Boost Your Next Stimulus Check There are a number of reasons to file your tax return early this year. A quicker refund and reduced risk of tax identity theft are at the top of the list for most people… and for some people, a larger stimulus check! So who should file early and who should wait to file in April? The answer to that question depends on whether there were changes to your family or financial situation last year. That's because the next stimulus check will be based on your 2019 tax return or your 2020 return. And the return that was most recently filed when the IRS starts processing your stimulus payment will likely be the one that they use to determine your benefits. When the IRS calculates the amount of your next stimulus check, they will review your tax filing status, the number of dependents, and your adjusted gross income (your AGI). That information will come from your 2019 or your 2020 tax return. If you file early, they will likely pull that information from your 2020 return. If you file later, they will most likely pull that info from your 2019 return. And that dynamic gives you a little more control over your next stimulus check. The IRS started accepting tax returns last week. The two-week delay in accepting tax returns was due to some unexpected programming that was required after the second round of stimulus checks were authorized. If Congress passes President Biden’s $1.9 trillion budget reconciliation bill, that plan is likely to authorize another round of stimulus checks. Based on most estimates, the IRS is not likely to start processing third-round stimulus checks until the second week of March (or later!). If you expect your 2020 tax return to drive a higher stimulus payment, then you may want to file your 2020 return as soon as possible. That way there's time for it to be processed before the IRS starts sending out stimulus payments. So what things might cause a higher stimulus payment? The following changes might drive a larger stimulus payment from your 2020 tax return: THREE REASONS TO FILE YOUR TAXES EARLY You were married in 2020 You had a baby in 2020 You were claimed as a dependent on a 2019 tax return, but not on anyone's 2020 return Your income was lower in 2020 than it was in 2019 And who might consider waiting to file their 2020 tax return? If your income was higher in 2020 than it was in 2019, you may want to wait until April to file your tax return. If you had a death in your family in 2020, and you have fewer dependents on your 2020 tax return, you may want to wait to file your tax return. If you are losing the ability to claim your child as a dependent due to their age in 2020, you may want to consider waiting to file your tax return. If you got divorced in 2020 the best path is less straightforward. There are several factors that could impact whether you should file early or wait. For additional questions, please reach out to us at info@monotelo.com or call us at 800-961-0298. START YOUR 2020 TAX RETURN Upload your doc's online, and start your return from home. Get started Failing to order your affairs to minimize your tax burden could cost you significant money - so don't wait to take action. If you have additional questions or need some planning help, please reach out to us.

If you fail to plan ahead, you will struggle to claim your medical expenses as an itemized deduction when April 15th arrives. You will lose the ability to deduct the bulk of these expenses because they need to surpass 10% of your Adjusted Gross Income (AGI) to be usable as an itemized deduction . This means that taxpayers who make $100,000 during the year will not be able to deduct the first $10,000 in medical expenses. That handicap essentially means you will not be able to deduct any medical expenses, unless you incur heavy medical bills in a single year. And if you are paying AMT (the Alternative Minimum Tax) - don't even think about it. When it comes time to pay your income tax bill, most Americans want to pay the lowest amount possible. One of the ways taxpayers seek to do this is by increasing the number of deductions they take on their tax return each year. So it's not surprising that one of the common questions we receive from our clients is whether or not they can deduct their medical expenses. While the simple answer is "yes," the reality for most taxpayers is "no." However, with a little planning, that answer can be "yes." If you fail to plan ahead, you will struggle to claim your medical expenses as an itemized deduction when April 15th arrives. You will lose the ability to deduct the bulk of these expenses because they need to surpass 10% of your Adjusted Gross Income (AGI) to be usable as an itemized deduction . This means that taxpayers who make $100,000 during the year will not be able to deduct the first $10,000 in medical expenses. That handicap essentially means you will not be able to deduct any medical expenses, unless you incur heavy medical bills in a single year. And if you are paying AMT (the Alternative Minimum Tax) - don't even think about it. The best way to counteract this nasty little piece of the tax code is to set up an HSA (Health Savings Account) and contribute to it each year. When you contribute to an HSA you get the privilege of deducting the amount of your contributions from your income and you bypass the 10% threshold. You can do this even if you don't choose to itemize your deductions! And as an added bonus (do we sound like an infomercial?) - the money you put into your HSA, as well as the earnings of the account, can be taken out tax free as long as they are used for qualified medical expenses. While you cannot pay your health insurance premiums with funds from an HSA, you can pay most other medical expenses. Additionally, once you turn 65 you can use the HSA to pay your Medicare or other healthcare premiums. Requirements for an HSA In order to qualify for an HSA you must have a high-deductible health plan - defined as a healthcare plan with: 1 An annual deductible of at least $1,350 for individual coverage or at least $2,700 for family coverage. 2 Maximum annual out-of-pocket expenses of $6,750 for individual coverage and $13,500 for family coverage. Once you have your HSA set up you can contribute up to $3,500 per year for individual coverage and $7,000 for family coverage. If you are over the age of 55 you can contribute an additional $1,000 annually. Save as PDF Read More Articles Share Failing to order your affairs to minimize your tax burden could cost you significant money - so don't wait to take action. If you have additional questions or need some planning help, please reach out to us. Avoiding the 10% Threshold for Medical Expenses How do you setup an HSA? If your employer offers a high-deductible health plan, they should also give you the ability to contribute to an HSA. You can also open an account on your own through a qualified HSA provider, such as a bank or insurance company (go to www.hsasearch.com for a list of qualified HSA providers). What happens if you don't plan ahead? So what is the solution? Key Takeaways If you don't plan ahead and contribute to a Health Savings Account then you will find that most, if not all, of your medical expenses will be ineligible for a deduction due to the 10% threshold that must be met before deducting medical expenses. By setting up and contributing to a Health Savings Account you can deduct your full contribution to the account and have the flexibility to pay your medical bills with tax-free withdrawals from the account.

Small-Business Provisions of the CARES Act Access Presentation Slides

WHITE PAPERS The purpose of our White Papers is to give our prospective clients the opportunity to hear the solutions we have recommended to address complex problems and to help people understand the issues to consider when making complex financial decisions. While the situations are real, the names have been changed to protect the innocent! WLW Win One, Lose One, Win One... This was a fun case for our team. There was complexity due to the types of income this family was generating and the stakes were high because they were in the 39.6% tax bracket in the prior tax year. They were also paying the alternative minimum tax. Read More JSZ Realtor Sam This case had similarities to cases that had come across our desk in the past. However, what was unusual about this case was the ratio of investment property income to commission-based income being generated from home sales. Due to this we were initially not sure if we would be able to reduce his tax burden, but in the end we were able to save him $7,000 per year. Read More CWS Coulda-Woulda-Shoulda This case highlights a situation where a client's failure to consult with us prior to making a large financial decision ended up costing them $30,000 in taxes. Read More SOO Starting Over, And Over Our SOO case deals with a young Realtor client who had to repeatedly start her business over from the beginning as her life took her across the country. Amidst this repeated reset we were able to reduce her tax bill by $8,000 and increase her cash-flow. Read More

Whether you are just starting out, or are a seasoned veteran, you need someone who will work with you to ensure that you are set up for success. Small Business At Monotelo we start every relationship with a tax conversation. We work hard to free up cash flow by helping you minimize your federal tax liability. That's because every dollar you pay the federal government is one less dollar available for you to reinvest back into your business, or one less dollar available for you to reinvest into your future. Learn More This video provides a brief summary on how we reduce the tax liability for our small business owners. Why Monotelo? Tax Tips and Strategies Strategies that you can implement in your small business to simplify the filing process while reducing your tax burden. How We Work With Clients The biggest enemy to the accumulation of wealth is the 23-43% cut the government is going to take on your income. That is why we start every relationship with a tax conversation. Monotelo White Papers Read about some of our previous cases, the challenges we faced, and the solutions we developed to help our clients make better financial decisions.

Have you taken the proper steps to ensure your loved ones receive your property after you pass away? Save as PDF Read more articles Share 1 2 WILL VS TRUST: WHICH IS RIGHT FOR YOU? Have you ever thought about who you would like to give your money, real-estate, or that special family heirloom to after you pass away? Most of us have, but have you taken the necessary steps to ensure that your belongings are received by that person or persons? The two most common methods of transferring your assets to your loved ones after your death are a will or a living revocable trust . What is the difference between them, and which one is right for you? WILL A will is a written document that allows you to establish how you would like your personal assets to be distributed amongst your family and friends after you have passed away. You can also dictate, within reason, how you would like your assets to be used by their recipient. A will can be changed at any time throughout your life but becomes irrevocable at the time of your death. A will also allows you to designate a guardian for any minor children you may have. Without such guidance in your will, it will be up to a judge to appoint a guardian as they see fit. Advantages Easier to set up. A will is generally easier and cheaper to set up than a trust as it does not need to be actively managed or funded. Can be used to designate a guardian for your minor children Disadvantages More restrictive. A will does not provide as much freedom as a trust to control the distribution of your assets after your death. Court intervention. Transferring your property through a will requires the beneficiaries to go through probate court, which can be a time-consuming process and makes your financial affairs part of the public record. LIVING REVOCABLE TRUST A living revocable trust is a legal entity that you set up in order to manage your assets while you are alive and transfer them to your beneficiaries after your death. Unlike a will, there is no court intervention required to transfer property to your beneficiaries. One of the major differences between a will and a trust is that a trust must be funded in order to be valid. A trust can only be used to transfer property that was placed in it before your death. Advantages Greater control. A trust allows you to dictate how and when a minor child will receive any money left to them. It can also be used to set up specific funds such as for a child’s education. Avoid court. Transferring your property through a trust allows you to bypass the time-consuming process of probate court and allows for your financial affairs to remain private. Any assets placed in a trust can be transferred immediately to your beneficiaries after your death. Disadvantages More costly to set up. Trusts are more expensive than wills because they require continued management after the initial setup and they can only control assets that have been placed into them. Cannot be used to designate a guardian for your minor children. Summary You should consider the unique circumstances in your life to determine if a will or a trust would be more beneficial. In some circumstances it may make sense to have a trust but to supplement it with a will. For example, if you have one or more minor children you may consider setting up a trust so that you can establish college funds or hold money for them until they reach a certain age, and then you may want to supplement that trust with a will to designate a legal guardian for your children if you pass away before they reach adulthood. Read more articles Share Failing to order your affairs to minimize your tax burden could cost you significant money - so don't wait to take action. If you have additional questions or need some planning help, please reach out to us.

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Asset Location and Creating Tax-Free Retirement Income