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 2024 Tax Return Tax Season Resources Gratitude, Generosity, and the Power to Change Lives 24 hours ago 4 min read The Multiplying Power of Generosity: Feed a Child This Thanksgiving Nov 13 3 min read 7 Money-Smart Principles Every Parent Should Teach Aug 12 4 min read Gratitude, Generosity, and the Power to Change Lives The Multiplying Power of Generosity: Feed a Child This Thanksgiving 7 Money-Smart Principles Every Parent Should Teach 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

Monotelo Advisors Privacy Policy Introduction At Monotelo Advisors, we respect your privacy and are committed to protecting your personal information. This Privacy Policy outlines our practices regarding the collection and use of your data. Information Collection We may collect personal information from you in various ways, including when you visit our website, subscribe to our newsletter, fill out a form, or interact with our services. The types of personal information we collect may include: - Contact information (name, email address, phone number) - Demographic information (age, gender, location) Use of Information We use the information we collect for various purposes, including: - To provide and improve our services - To communicate with you, including sending newsletters and updates - To personalize your experience on our website - To analyze and understand how our services are used No Sale of Personal Data At Monotelo Advisors, we prioritize the confidentiality and security of your personal information. We want to assure you that we do not sell or share your personal data to any third parties. Your trust is of utmost importance to us, and we are committed to protecting your privacy. Data Security We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or access your personal information. We do not share personal data (phone numbers) with third parties, affiliates or partners Your Rights Depending on your location, you may have certain rights regarding your personal information, including: - The right to access your personal data - The right to correct any inaccuracies - The right to request deletion of your data - The right to restrict processing of your data - The right to data portability - The right to object to the processing of your data If you wish to exercise any of these rights, please contact us using the information provided below. Changes to This Policy We may update our Privacy Policy from time to time. We will notify you of any changes by posting the new policy on our website. You are advised to review this policy periodically for any changes. No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. All other categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties

Welcome to the Big Beautiful Bill Resource Center The Big Beautiful Bill is transforming the landscape of financial legislation and we're here to help you stay informed every step of the way. This page is your central hub for everything related to the bill: expert articles, insightful videos, and in-depth webinars designed to unpack what it means, why it matters, and how it could impact your financial future. Check out our latest webinar. Click here to find a segment that interest you. New provisions for individuals under the Big Beautiful Bill New provisions for business under the Big Beautiful Bill Check out our articles on the Big Beautiful Bill Understanding the New Tax Relief for Seniors and Hourly Workers: Tips, Overtime, and Social Security Explained Jim Richter 25 Takeaways From the Big Beautiful Bill Michael Baumeister Three Sweeping Tax Reforms That Could Impact Your Paycheck Jim Richter

Big Beautiful Bill Webinar Segments Click on the topic you want to learn more about based on our webinar. How the OBBBA has changed exit strategies for business owners Overtime Pay Child Tax Credit SALT Cap No Tax on Tips Senior Deduction Check out our articles on the Big Beautiful Bill Understanding the New Tax Relief for Seniors and Hourly Workers: Tips, Overtime, and Social Security Explained Jim Richter 25 Takeaways From the Big Beautiful Bill Michael Baumeister Three Sweeping Tax Reforms That Could Impact Your Paycheck Jim Richter

The SECURE Act was signed into law by President Trump in December and went into effect on January 1st of this year. The new law was intended to expand opportunities for individuals to increase their retirement savings, but also brings about some significant changes to retirement and financial planning. Here are the two most important changes along with six notable provisions that you should know about regarding the SECURE Act: 1) Increased Access to Retirement Plans for Small Business Owners and 2) The Elimination of the Stretch IRA. 1. Increased Access To Retirement Plans For Small Business Owners: The SECURE Act expands the ability for small businesses to offer retirement plans because it allows small-businesses to pool resources with other small businesses to offer 401(k) plans at lower costs. This piece of the legislation could help more small businesses take advantage of employer-sponsored plans. This is good policy. If you are a small business owner, we encourage you to reach out to us to see how this may affect your business. 2. Elimination Of The Stretch IRA: One of the biggest changes from the Secure Act comes from the elimination of the “stretch” IRA on inherited retirement accounts. This means that younger beneficiaries can no longer stretch the distributions over their lifetime, but now must distribute the entire account within 10 years of the account owner’s death. This does not apply to spouses who inherit their deceased spouse’s IRA or minor children of a deceased account owner. The elimination of the stretch provision presents significant changes, including the need to review current estate plans to avoid unintended consequences. This change may require you to look at other options for giving retirement accounts to your beneficiaries. Roth Conversions, life insurance and charitable trusts may now look a lot more attractive in light of the new laws. In addition to what we just shared, there are six notable provisions from the new law: 1. Age Limit Removed For IRA Contributions: There is no longer an age cap on contributions to a traditional IRA. Before the SECURE Act, there was an age cap of 70 ½ for contributing to a traditional IRA. Individuals who continue to work can now continue to save for retirement in an IRA, regardless of their age, as long as they have earned income. 2. Required Minimum Distribution (RMD) Age Extended to 72: The SECURE Act delays RMDs from retirement accounts until age 72 (up from 70½). Anyone who is over 70½ must continue taking RMDs. For those under 70 ½. this extension basically means that investors have a longer time horizon to keep their investments tax-deferred in their IRAs… and this has direct implications on how you should be investing your taxable assets to produce income in retirement. 3. Penalty-Free Withdrawals For New Parents: The SECURE Act now allows new parents to pull up to $5,000 from their retirement plans penalty-free, if they do it within a year of the birth of a child or adoption. Income taxes will still apply to any withdrawals from a traditional retirement account, but this provision allows new parents to pull money from their retirement plan to pay for some of those first-year child expenses and not incur any penalties. 4. Student Loan Repayment Through 529 Savings Plans: Individuals can now withdraw up to $10,000 from 529 savings plans to make student loan payments. This is a small step forward in helping Americans manage the growing costs of college education by empowering the 529 plan with one more tool to help students. 5. Retirement Plan Conversion To A Lifetime Annuity: Retirement accounts can now be converted to a lifetime annuity. Essentially, this piece of the legislation gives investors the ability to lay off their longevity risk onto an insurance company who will gladly take on that risk for a healthy annual premium that they collect from investors. This is good in that it gives investors another option, but it also puts them at risk of being taken advantage of by insurance companies. 6. Lifetime Income Disclosure For Defined Contribution Plans: Employers are now required to disclose to employees the amount of sustainable monthly income their balance could support in their 401(k) statements. This is not a big deal, but it could be a helpful resource for investors as they look for guidance on how to prepare for retirement. If you take away anything from this article, take away this: The Secure Act has essentially pushed you to review your retirement and estate plans to make sure they take advantage of the good provisions of the new law while employing strategies to mitigate the bad provisions of the new law. If you have additional questions, or need help putting together a holistic plan that takes the Secure Act into account, please reach out to Monotelo Advisors at 800-961-0298. WHAT YOU SHOULD KNOW About The SECURE Act Read more articles 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.

Quarterly: Oct 17 Profiting From the Failure of Active Managers If you were to Google “Active vs Passive Management” you would see a multitude of articles debating the value of high-fee active managers verses low-fee passive ETF sponsors. Instead of sharing our two cents on the fee debate, we would rather spend our time addressing the failure of the models behind most active managers and how to profit from their mistakes. The reason most active managers fail to outperform their benchmarks is not simply due to their higher fee structure. They fail because they fail to recognize that the markets are random. In their refusal to recognize the “randomness” of the markets, they put their trust in their “expert” ability to predict the future, but the future is not predictable because the markets are random. That is why Tamco spends zero effort attempting to predict which companies will grow earnings next year. Why spend resources in an attempt to predict something that is unpredictable? Rather than basing our stock selection on a model that tries to predict the future, we buy stocks based on their characteristics at the time of purchase. As an example, let’s take the earnings trends of BlueCo and RedCo (below). If these two companies existed today, BlueCo is likely to trade at a high valuation while RedCo is likely to trade at a low valuation. And the difference between these valuations will be driven by the “experts” and their assumptions about the future earnings of these two companies. But academic studies have shown that experts are very bad at predicting the future and historical trends tend to revert back to their mean. This principle is called “Reversion to the Mean.” So the primary focus of our analysis is on the data point of today. What do these companies look like today? What are their current earnings? What are they currently doing with their free cash flow? And how does their valuation compare with other opportunities in the marketplace? Because today’s earnings and today’s capital allocation decisions give us the best insight into what these two companies will look like tomorrow; and the probability of their earnings reverting back to the mean is higher than most would think. This type of analysis not only keeps us from overpaying for BlueCo, it also helps us identify the opportunity with RedCo; because there is a reasonable probability that each of these companies will end up with similar earnings and similar valuations over time. And the valuations are likely to be somewhere between where they are each priced today.

Monotelo Advisors Inc Tax Planning Engagement Letter Heading 1 Thank you for choosing Monotelo to assist you with your tax planning needs. Tax planning is a strategic approach to managing finances that aims to minimize tax liability and maximize savings. By organizing income, expenses, investments, and expenditures efficiently, individuals and businesses can take full advantage of tax benefits, deductions, and credits. Effective tax planning not only reduces the amount of taxes owed but also contributes to better financial health by freeing up resources for savings, investments, and future growth. This engagement letter outlines the scope of our services, your responsibilities, and our commitment to providing you with accurate and timely solutions. By agreeing to this letter, you authorize Monotelo to prepare a tax plan that will help to reduce your short-term and lifetime tax liability. We look forward to working with you to ensure that you retain more of your hard-earned money.

Get started File from home File your taxes from home. Upload your documents, and get started. Need additional tax help? Schedule an appointment to get started. Schedule an appointment Get started Ready to start your 2023 tax return? 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 What We Offer 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 Have questions, or need help? Give us a call or send us an email; me are happy to help. Call Us Email Us Wondering where your refund is? Not sure what tax documents you need, or want to upload a file? Refund Tracker Documents checklist File Upload

Frequently Asked Questions Monotelo Quarterly Tax Tips White Papers How To Avoid An Audit Do you have a PTN? EAs and CPAs What is your tax background? What records? Fees File electronically What if I get audited? Who will sign my return? When will I receive a copy of my return? How do I find you? Do you have a PTIN (preparer tax identification number)? What is your tax background? What records and other documentation will you need from me? How do you determine your fees? Can I file electronically? What happens if I get audited? Who will sign my return? When will I receive a copy of my return? How do I find you if I have a question or a problem after tax season is over? Do you have a PTIN (preparer tax identification number)? All of our tax preparers and client-facing staff who are involved in the return preparation process have their PTINS. Feel free to ask for the PTIN of any staff member involved in return preparation. What is your tax background? Most of our tax preparers are either CPA's or Enrolled Agents. A Certified Public Accountant (CPA) is certified by the state to act as a public accountant. A CPA is the only licensed qualification in accounting. To be certified, candidates are required to pass an exam. Most states also require an ethics exam or course as well as continuing education credits. A CPA may specialize in tax but not necessarily: there's a wide range of CPA services including accounting, auditing, financial planning, technology consulting and business valuation. An Enrolled Agent (EA) has earned the privilege of representing taxpayers before the Internal Revenue Service by passing a three-part comprehensive IRS exam. The EA status is the highest credential the IRS awards. EA's must adhere to ethical standards and complete 72 hours of continuing education courses every three years. What records and other documentation will you need from me? We will need all your W-2's, 1099's, 1098's and other verification of income and expenses in order to prepare your return. We do not need individual receipts. Please do not send any individual receipts unless we request them. You must retain all your receipts in case of an audit by the IRS. How do you determine your fees? Our fees are completely transparent - you can view our fees on our Fee Schedule . Can I file electronically? Yes, after your return is completed, you will receive E-file consent forms (Form 8879) and be given the option to have us electronically file on your behalf after you review and approve the return. What happens if I get audited? As Enrolled Agents and Certified Public Accountants, we are authorized to represent our clients before the Internal Revenue Service. We can respond to questions and represent you in front of the IRS. If there is an error on your return and it is our fault, we will fix the error, file an amended return on your behalf and you will not be charged for any amended return preparation fees. Who will sign my return? Your tax return will be signed by the person who performs the final review of your return. This person will have a PTIN and the PTIN will appear next to their signature. We can give you the name of the person who will be reviewing and signing your return at the time we receive your tax documents. When will I receive a copy of my return? You will receive a complete copy of your return after we finish preparing the return and the tax preparation fees have been paid. You can choose to receive an electronic copy, a physical copy or both. You will need a copy of your return to review it prior to filing or having us E-file on your behalf. How do I find you if I have a question or a problem after tax season is over? Our offices are open twelve months a year. If you receive a request from the IRS or your state department of revenue, we are available to meet in person, or connect by phone or email. Click Here to check out the IRS website for more resources in choosing a tax preparation firm

Retirement Readiness Our Retirement Readiness series is four separate webinars designed to address today's most important retirement issues. Each 20 minute webinar is designed to provide 15 minutes of value-packed content and close with 5 minutes for Q&A You can use the links below to watch the recorded webinars "When Will I Be Ready and What Should I Do Today to Prepare for Retirement?" When Will I Be Ready and What Should I Do Today To Prepare for Retirement is a 20 minute webinar that will walk through the three most important steps you can take to get yourself on track to safely retire on your time frame. In addition to the three specific action steps, all attendees will receive our Safe Retirement Zone calculator as a valuable tool that they can use to help take control of their future. View On-Demand Video Social Security Claiming Strategies - How to Maximize Your Lifetime Benefit The Social Security Claiming Strategies module can have a profound impact because most people don't understand the different options they have when claiming Social Security, and they don't understand the financial implications of the different options. If you are married, your options have doubled, and if you are divorced you may still have the option of a spousal claim. Understanding the spousal benefits and the delayed benefits may not only significantly increase your monthly income, it could change the trajectory of your retirement years. Our Social Security Claiming Strategies module is invaluable if you or someone you care about is in or near retirement. View On-Demand Video Tax Efficient Retirement Planning in Light of the Recent Tax Cuts and Jobs Act The Tax Efficient Retirement Planning module will address the massive shift in the tax code that took place last January. These changes radically impact how individuals should be preparing for retirement, and they provide significant opportunities to take action between now and December of 2025, when the tax cuts are set to expire. The Tax Efficient Retirement Planning module will empower you with the tools to take full advantage of the current compelling, but temporary opportunities created by the new tax laws. View On-Demand Video Small Business Retirement Planning The Tax Cuts and Jobs Act recently passed by congress enacted the most significant tax legislation changes that our country has seen in over thirty years. These changes have a significant impact on how small business owners should prepare for retirement - and that is why we put together our Small Business Retirement Planning module. If you are a small business owner or independent contractor and your financial plan was put in place prior to December of 2017, there is no way you are taking advantage of the new opportunities. Our Small Business Retirement Planning module will help small business owners take full advantage of the recent changes to maximize a lifetime of savings that are currently available. But there is a sense of urgency, because the current tax cuts are set to expire in 2025. View On-Demand Video

Monotelo Advisors spoke at (PFFW) Professional Firefighters of Wisconsin's bi-annual meeting held in February at the Hilton City Center Hotel in Milwaukee, WI. Monotelo Speaks To The Professional Firefighters of Wisconsin Monotelo Advisors spoke at (PFFW) Professional Firefighters of Wisconsin's bi-annual meeting held in February at the Hilton City Center Hotel in Milwaukee, WI. Monotelo was invited to speak because of their unique knowledge of the firefighting profession and how they apply that knowledge to help firefighters retain a higher percentage of their income. "We find that career firefighters are overpaying anywhere from a few hundred dollars per year to over one thousand dollars per year on their tax bill" - shared Jim Allen, Director of Monotelo Advisors. In their presentation to the PFFW, Monotelo offered a no-obligation "Look-back'' for IAFF local members. The "Look-back'' starts with a brief discussion to review job related expenses. Monotelo then compares the expenses identified in the discussion with the expenses that were used on the prior tax returns. When there is a meaningful difference between the two, Monotelo will "We find that career firefighters are overpaying anywhere from a few hundred dollars per year to over one thousand dollars per year on their tax bill" correct the past three years and recover money that was left on the table. About the PFFW - The Professional Firefighters of Wisconsin represents 60 locals with over 4,000 career firefighters across the state of Wisconsin. "Every two years we bring in key leaders from around the state, elected officials, and companies like Monotelo that we believe can help our members. I am very particular as to who I let speak to our guys, and Monotelo did a great job," said Mahlon Mitchell, president of the PFFW. "My local affiliation is IAFF Firefighters Local 311," explained Mitchell. "We invited Monotelo to come meet with our members. We had a full day filled with our members coming in to have Monotelo review their past returns and prepare their current year's return. I've heard nothing but good things; so we're really appreciative of what they did for us." In addition to Local 311, Monotelo has had the opportunity to impact the entire state of Wisconsin using technology. Coming into local meetings via the web, Monotelo offered guidance, answered questions and gave local members the opportunity to recover some of their hard-earned money. For questions about how Monotelo can help your local, contact Jim Allen at jallen@monotelo.com . ARE YOU GETTING BEAT? Don't pay the federal government more tax than the law requires. Call Monotelo today for a NO-COST, NO-OBLIGATION, tax review designed to minimize your tax bill and maximize your take home pay. MONOTELO.COM | 800.961.0298

Thank you for Uploading We will be in touch with you soon Return to home