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

At Monotelo Advisors our accountants work hard to free up cash flow by helping you minimize your federal tax liability, giving you more money to reinvest into your future. Simplify Your Taxes with Trusted Experts Accurate, stress-free tax preparation for individuals and businesses. Learn More Schedule Meeting Start your 2025 Tax Return Tax Season Resources Social Security Changes for 2026: A Complete Guide for Retirees and Working Beneficiaries Jan 15 4 min read Key Tax Season Deadlines for Monotelo Small Business Clients in 2026 Jan 13 2 min read Important Tax Dates for Small Businesses in 2026 Jan 8 3 min read Social Security Changes for 2026: A Complete Guide for Retirees and Working Beneficiaries Key Tax Season Deadlines for Monotelo Small Business Clients in 2026 Important Tax Dates for Small Businesses in 2026 Looking for Financial Planning Help? Our values-based retirement planning will give you the quiet confidence that everything is on track for you to achieve your life goals. Get Started Learn More Run your business, we'll handle your finances. Small business owner? Yes, we can help you with your tax, bookkeeping and payroll needs. But there is so much more to having the right financial partner. Get Started Learn More

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THE MONOTELO TEAM Jim Richter, CFP®, CAIA®, EA, CEPA ® President jim@monotelo.com Jim Richter is the President of Monotelo Advisors. Jim sets the strategic direction for the firm, including oversight of all tax and financial planning services at Monotelo Advisors. He brings 20+ years of experience in the financial services industry, including 10 years of hedge-fund specific work across diverse investment products. Prior to founding Monotelo Advisors, Jim spent 7 years as a Managing Director and Partner at a Chicago-based asset management firm. Prior to his time in the asset management industry, Jim spent 9 years as a fixed-income specialist in the banking industry. Jim is a CERTIFIED FINANCIAL PLANNER™ and a Chartered Alternative Investment Analyst with a degree in Finance from the University of Illinois - Chicago. He is an Enrolled Agent, a federally authorized tax practitioner empowered by the US Department of the Treasury to represent taxpayers before the Internal Revenue Service. Jim is also a Certified Exit Planning Advisor (CEPA®), trained to help business owners align their goals and build transferable value to successfully exit their companies. If you asked Jim where he would like to be right now, it would be in the Northwoods of Wisconsin. Ron Rindone, CPA Certified Public Accountant ron@monotelo.com Ron is a Certified Public Accountant with more than 40 years in public accounting. Ron has extensive experience with accounting and taxation in the manufacturing and service industries. He is a member of the Illinois CPA Society. Ron has a deep understanding of the Internal Revenue Code and how it intersects with our small business owners and individual families. He has a Bachelor’s degree in accounting from the University of Illinois. Ron and his wife have one son and two grandchildren. In Ron’s free time he enjoys spending time at his home in Lake Geneva with family and friends. Little known fact about Ron: he has been to the World Series of Poker more than once! Nicknamed “Best Dressed Ron” by the Heartland Poker Tour announcers in 2016, Ron was perfectly fine with his new nickname after he walked away with $74,000 in tournament winnings. Gavin Tabb, CPA Certified Public Accountant gavin@monotelo.com Gavin is a Certified Public Accountant and small business specialist for Monotelo Advisors. He is responsible for supporting our small business clients throughout the United States with seamless payroll, bookkeeping and monthly accounting services throughout the year. Gavin has a Bachelor’s degree in accounting from Northern Illinois University. He is an Intuit QuickBooks Certified User. Gavin and his wife have a five-year old daughter and one-year old son. Mike Matousek, CPA Certified Public Accountant Mike@monotelo.com Mike has extensive experience, spanning over four decades, starting as a staff accountant, and eventually becoming a partner at his own firm. His responsibilities included preparing and filing individual and business tax returns, assisting in audit field work for corporations, assessing the risk of material misstatement in financial statements, and designing audit procedures in accordance with Generally Accepted Auditing Standards (GAAS) for various accounts. As a partner at his firm, Mike was also involved in training and supervising staff, playing a leadership role in the development of his team. His current focus at Monotelo involves researching tax positions for clients to minimize tax liabilities and filing complex corporate tax returns. Mike has a wealth of experience and expertise in tax planning, auditing, and leadership within the field of public accounting. Jessica Padden, EA Tax Specialist jessica@monotelo.com Jessica is a tax specialist and paraplanner with Monotelo Advisors. Her expertise lies in personal tax returns and comprehensive tax planning, especially during significant life transitions. Jessica excels at deciphering the complexities of tax returns, helping clients minimize their taxes by addressing issues such as basis calculations, farm income, and company stock plans. With a Master's in Financial Planning from the American College, she is also an Enrolled Agent and Accredited Financial Counselor. Since 2011, Jessica has been dedicated to helping clients achieve more secure financial futures. Her commitment to her clients is unwavering, and she strives to provide personalized and effective financial solutions. When Jessica is not assisting clients, she enjoys spending her time reading, crafting, or hiking with her family. Starla Dolihite, EA Tax Specialist starla@monotelo.com Starla is a tax specialist with Monotelo Advisors. She serves in our personal tax department where she brings her best to Monotelo clients each day. Her attention to detail and commitment to excellence are what make her special. She is passionate about studying tax law and getting into the nitty-gritty so she can apply that knowledge to make a difference in the lives of our clients. Outside of work she enjoys hiking, mountain biking, paddleboarding and serving in her church. Starla and Brian, her husband of 33 years, have three adult children and one daughter-in-law. If Starla could be anywhere right now it would be working out at the gym, or at the beach. But not just any beach! The beach has to be on the Florida Gulf Coast. Starla and her husband are Florida natives. Starla has a Bachelor Degree in Accounting from the University of West Florida. Starla is an enrolled agent, a federally authorized tax specialist that operates to provide advisory services to American taxpayers about matters concerning the Internal Revenue Service. Michelle Hartley Tax Preparer & ParaPlanner michelle@monotelo.com Michelle serves as a Tax Preparer and ParaPlanner for Monotelo Advisors. Michelle spent two decades travelling the U.S. and Pacific region as a military spouse. Along the way, she earned a Bachelor of Arts in psychology at the University of Texas at San Antonio, where she engaged in PTSD research, earned her Accredited Financial Counselor® certification as a 2014 FINRA Foundation Military Spouse Fellow, and continuously pursued her passion for financial counseling and education. This spring she will complete her Master of Science degree in financial planning with a financial psychology certificate from the American College of Financial Services. Michelle enjoys working with families to help transmit money values and improve communication to attain shared goals. Her free time is spent baking, rushing to install and enjoy gardens before the next set of military orders arrives, and drilling her son on Latin grammar forms. Michelle also spends time volunteering with organizations that build financial literacy within the military community and serves as a mentor and scorekeeper for a youth robotics league. Alejandro Almaraz Accountant Alejandro.alamaraz@monotelo.com Alejandro Almaraz is an accountant in Monotelo’s Client Accounting Services and Personal Tax department, where he plays a key role in maintaining accurate, organized financial records for our small business clients. He supports clients with accounting, bank reconciliations, payroll processing, accounts payable and receivable, and tax preparation, ensuring financial data is timely, reliable, and easy to understand. He works closely with clients and internal team members to support smooth onboarding, efficient workflows, and compliance throughout the year. While Alejandro is one of our newer team members, he has over twelve years of experience in tax, having joined us from KPMG LLP where he was a Senior Tax Associate. Alejandro has a Bachelor of Science Degree from DePaul University and a Masters of Business Administration with a concentration in Accounting from DePaul University. Alejandro lives with his wife and three young children. Renee Katschke Small Business Specialist renee@monotelo.com Renee is a small business specialist for Monotelo Advisors with over 15 years of public accounting experience. Renee works alongside Mary Bresson in our West Brooklyn office serving our small businesses and farming clients. She started her career in banking and has been providing bookkeeping, payroll and sales tax return preparation services since 2006. Renee also supports our team in preparing individual 1040, corporate and partnership tax returns. Marianne Richter Engagement Manager marianne@monotelo.com Marianne Richter is responsible for ensuring that Monotelo is delivering a high level of customer service and meeting the expectations of Monotelo’s small business relationships. Marianne brings 13+ years of diversified training and marketing experience in the consumer goods industry to Monotelo. Marianne and her husband, Jim have two adult sons. Little known fact about Marianne: she is a certified personal trainer and health coach. If Marianne could be anywhere, it would be on a beach. Anita Ruffin Accountant anita@monotelo.com Anita is a seasoned accounting professional who has served in public and corporate accounting over the course of her career. Working in the accounting department at Motorola for a decade, Anita played the role of staff accountant, compensation analyst and team leader in Motorola’s network services business. Anita holds a Bachelor of Science degree in Accounting from the University of Missouri. She and her husband have three adult children and a dog! Anita enjoys traveling, gardening, leading her BSF bible group and spending time with family. If she could be anywhere right now, she would be on the beach, in a tropical island! Cassie Beesley Associate Cassandra@monotelo.com Cassie is a long-time resident of Bunker Hill, and is thrilled to assist Monotelo clients in the local communities she loves. Cassie earned two bachelor’s degrees from Eureka College, one in Mathematics and one in Secondary Education. After graduating from college, Cassie worked as an administrative assistant for over 5 years, where she found her calling in accounting and her love for numbers. In her spare time, Cassie coaches girls and boys volleyball at her alma mater high school. When Cassie is not caring for the needs of Monotelo’s clients, you might find her writing her own fictional stories, or hiking and kayaking Sarah Blatter Administrative Assistant Sarah.blatter@monotelo.com   Sarah Blatter serves as an Administrative Assistant in Monotelo’s Personal Tax department, providing essential operational and client support during tax season and throughout the year. She assists with document management, correspondence, scheduling, and client communications, helping to ensure a smooth and responsive experience for every client. Sarah brings strong organizational skills, professionalism, and a service-oriented approach to her role. She is highly skilled in document preparation and workflow coordination and is often the first point of contact for client inquiries. Her attention to detail and commitment to accuracy help the tax team operate efficiently while clients feel informed, supported, and well cared for. Sarah has a Bachelor of Arts in History along with a Master of Arts in History and Museum Studies from the State University of New York, Buffalo State. She enjoys riding horses, cooking, reading and collecting books, and spending time exploring the world with her husband and pre-school aged daughter. 

If your taxable income is between $315,000 and $415,000, you could be paying a higher tax rate than any other taxpayer. July 2018 MONOTELO QUARTERLY Quarterly: Oct 17 STAYING OUT OF THE "DANGER ZONE" OF THE NEW SMALL-BUSINESS DEDUCTION The Tax Cuts and Jobs Act introduced a 20% deduction for small business owners. You can read our overview of this deduction in our last quarterly article. The gist of this new deduction is it will allow small-business owners to deduct 20% of their business income from their taxable income on their personal return. While this new deduction provides some welcome relief for small-business owners, there are restrictions on the deduction that highlight how critical proper tax planning is in 2018. If your business qualifies as a “specified service trade or business ” then your deduction will start to be phased out at taxable income of $157,500 ($315,000 if married filing a joint return) and entirely eliminated at taxable income of $207,500 ($415,000 if married filing a joint return). While this means any service business owner with taxable income above $415,000 will receive no benefit from the deduction, the toll is heaviest for any business owner who lands in the middle of the phaseout range. Example: John and Mary own a small consulting business and have taxable income of $315,000. Since they are right at the lower phaseout threshold they will receive the full deduction and their taxable income will be $252,000 ($315,000 x 80%). The tax they will pay on this income is $49,059. Now if their taxable income increases by $100,000 they will be completely phased out of the deduction and their taxable income will jump from $252,000 to $415,000, increasing their tax bill to $96,629. That is $47,500 in federal taxes alone on $100,000 of income. With what is effectively a marginal tax rate of 48%, small-business owners with taxable income between $315,000 and $415,000 are paying a higher tax rate than any other taxpayer! To avoid this heavy tax burden, proper tax planning is critical to reduce your taxable income and stay out of this “danger zone” of high taxes. Strategies to Reduce Your Taxable Income Contribute to a retirement plan. As a small-business owner, you have several options to save for retirement while simultaneously avoiding the heavy tax burden of this phaseout range. By setting up a SEP IRA you can contribute up to $55,000 per year (subject to earned income limitations). A SEP IRA is a simple way to defer significant income for retirement and works best when you are the sole employee. If you have other employees in your business, be aware that you will need to contribute an equal percentage of wages for each eligible employee. Make the most of your medical expenses Take advantage of the deduction for self-employed health insurance premiums . Unless you or your spouse are eligible to receive subsidized health insurance through your employer, you can reduce your taxable income by paying your health insurance premiums through your business. Set up a Health Savings Account . If you have a High-Deductible Health Plan then you can contribute up to $6,900 per year to save for future medical costs. Your contributions will lower your taxable income in the year they are made, and as long as your distributions are for qualified medical expenses they will be tax-free. Increase your charitable donations. If you find yourself in the middle of this phaseout range after an exceptionally successful business year, then you may already be considering increased charitable donations. With the large tax burden you could be facing in this phaseout range, the tax deduction from your donations will be more valuable than ever. These are just a few of the options available to you to lower your taxable income and avoid this danger zone of high taxes. Even if you don’t expect your income to reach the phaseout level for the new deduction, you can still realize significant tax savings by taking advantage of these strategies to lower your taxable income. Previous Article Next Article

Quarterly: Oct 17

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.

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Enrolled Agents and Certified Public Accountants Click Here to see IRS Website - Understanding Tax Return Preparer Credentials and Qualifications What is a Certified Public Accountant? Licensed by state boards of accountancy, the District of Columbia, and U.S. territories, certified public accountants have passed the Uniform CPA Examination. They have completed a study in accounting at a college or university and also met experience and good character requirements established by their respective boards of accountancy. In addition, CPAs must comply with ethical requirements and complete specified levels of continuing education in order to maintain an active CPA license. What is an Enrolled Agent? An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by passing the three-part Special Enrollment Examination administered by the Internal Revenue Service. The Comprehensive exam requires the participant to demonstrate proficiency in federal tax planning, individual and business tax return preparation, and representation. Enrolled agents are generally unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before. Enrolled agents are subject to a suitability check and must obtain a minimum of 72 hours of continuing education every three years. Additionally, they must also obtain a minimum of 16 hours of continuing education, including 2 hours of ethics or professional conduct each year.

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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.

PRIVACY POLICY This Privacy Policy governs the manner in which Monotelo Advisors collects, uses, maintains and discloses information collected from users (each, a “User”) of the monotelo.com website (“Site”). This privacy policy applies to the Site and all services offered by Monotelo Advisors. PERSONAL IDENTIFICATION INFORMATION We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, register on the site, subscribe to the newsletter and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number, etc. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personal identification information, except that it may prevent them from engaging in certain Site related activities. NON-PERSONAL IDENTIFICATION INFORMATION We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service provider’s utilized and other similar information. WEB BROWSER COOKIES Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly. HOW WE USE COLLECTED INFORMATION Monotelo Advisors collects and uses Users personal information for the following purposes: To improve customer service. Your information helps us to more effectively respond to your customer service requests and support needs. To improve our Site. We continually strive to improve our website offerings based on the information and feedback we receive from you. To administer a content, promotion, survey or other Site feature. To send Users information they agreed to receive about topics we think will be of interest to them. To send periodic emails The email address Users provide may be used to respond to their inquiries, and/or other requests or questions. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related service information, etc. If at any time the User would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email or User may contact us via our Site. HOW WE PROTECT YOUR INFORMATION We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site. Sensitive and private data exchange between the Site and its Users happens over a SSL secured communication channel and is encrypted and protected with digital signatures. SHARING YOUR PERSONAL INFORMATION We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above. We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes provided that you have given us your permission. CHANGES TO THIS PRIVACY POLICY Monotelo Advisors has the discretion to update this privacy policy at any time. When we do, the revised date will be added at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications. YOUR ACCEPTANCE OF THESE TERMS By using this Site, you signify your acceptance of this policy and terms of service. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes. CONTACTING US If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at: Monotelo Advisors www.monotelo.com info@monotelo.com