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No upcoming events at the moment 2020 Strategies for a Lifetime of Tax Savings Join us as we share a clear durable plan of action that cohesively addresses each area of your financial life to: ​ Maximize the productivity of your assets and improve your retirement income stream Minimize the drag from your long-term tax liabilities Potential for over $350,000 in lifetime savings on a $500K retirement portfolio​ Potential for over $2M in lifetimes savings on a $5M retirement portfolio Minimize the risk of rising tax rates in retirement​ Address the risk of low interest rates and stock market corrections in retirement Synchronize your values with your charitable giving desires and your legacy goals Provide a quiet confidence that your financial affairs are arranged to meet your long-term goals Help you live the life you want to life

Three Pricing Options To provide our small-business clients with flexibility in how they work with us, we offer three different pricing options for our services. 1. Additional rental properties will be charged at $50/property ​ 2. Processing of monthly payroll includes Federal 941 Quarterly Payroll Filing State Quarterly Payroll Filing Year-End 940 Payroll Filing W2 Issuance to Employees 1099 Issuance to Independent Contractors ​ ​ 3. Our Tax Savings Manual includes strategies to lower your federal tax bill. Historically we have found that we can save small-business owners between $5,000 and $12,000 per year. ​ 4. Two conference calls throughout the year to discuss: Estimated Payments P&L Discussion Adjustments to Officer Compensation Misc. Business and Accounting Issues ​ ​ 5. Requires a three year agreement. ​

SMALL BUSINESS TIPS Quarterly: Oct 17 Putting Your Self-Employment Income Away for Retirement If you are self-employed or own a small business you have the potential to put up to $61,000 per year towards your retirement by setting up a solo 401(k) ($67,500 per year if you are over 50). Of that $61,000 you can put $20,500 into a Roth 401(k) where all of your distributions will be tax-free at retirement. ​ The Tax Cuts and Jobs Act has created a unique opportunity to maximize your retirement cash-flow by utilizing our current low tax rates to save in an individual Roth 401(k) account where your funds will never be taxed again. ​ Before we get into the gritty details of the solo 401(k), be aware that the rules governing these accounts are a bit complex. If you are interested in setting up a solo 401(k) please reach out to us and we will help you determine if you qualify for one and how much you can contribute on an annual basis. ​ Qualifications To qualify for a solo 401(k) you need to operate either a sole-proprietorship or an incorporated business and have no full-time employees other than your spouse. A full-time employee refers to any employee over 21 years of age who works 1,000 hours or more annually. You can utilize the solo 401(k) if you have part-time employees or independent contractors. ​ One advantage of the solo 401(k) over a traditional 401(k) is that as the business owner you are considered both the employer and the employee. This allows you to make employer contributions to your account on top of your traditional deferrals or Roth contributions. The employer contributions cannot be made to a Roth account. They must be made to the traditional 401(k), so they will be tax-deferred when they are made and taxable when you withdraw them in retirement. ​ Contribution Limits Employee Contribution Limits: As the employee of your business you can contribute up to $20,500 ($27,000 if you are over 50) or 100% of your “earned income,” whichever is less. If you are a sole-proprietorship or a single-member LLC your “earned income” is the net profit of your business after deducting your business expenses. If your business is a C-Corp or S-Corp your “earned income” would be the amount of your W2 wages. ​ Employer Contribution Limits: As the employer you can also contribute an additional 25% of your adjusted earned income. If you are a sole-proprietorship or a single-member LLC the formula to calculate your allowed employer contributions is a bit more complicated but works out to roughly 18.5% of your net profits. If your business is a C-Corp or S-Corp your allowed employer contributions are 25% of your W2 wages. Combined Annual Limits: For 2022 the combined limit on employee and employer contributions is $61,000 ($67,500 if you are over age 50). This means if you contribute the full $20,500 as an employee the most you can contribute as the employer for 2022 is $40,500 regardless of how much earned income you have. Summary With the potential to put away up to $67,500 per year towards your retirement, the solo 401(k) is a powerful tool to help you prepare for your future. While 401(k) plans have historically been very costly to set up and maintain, increased popularity has significantly reduced the administration costs in recent years. If you are interested in setting up a solo 401(k) for your business, we would be happy to direct you on how to get started. Previous Article Next Article

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

Quarterly: Oct 17 Financial Planning & Long-Term Tax Reduction in Light of the Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (TCJA) that was signed into law in December of 2017 has created a unique and time-sensitive retirement planning opportunity that will sunset in 2025. ​ Representing the most significant tax code overhaul the United States has seen in over three decades, the Tax Cuts and Jobs act brings the US into one of the lowest combined marginal tax rate environments this country has experienced since the late 1980’s. ​ The chart below displays the highest and lowest historical marginal tax brackets in the United States. With the lowest marginal tax bracket as high as 25%, and the highest marginal tax bracket as high as 95%, today’s tax brackets are some of the lowest on record. The challenge with our low current tax rates is that Congress failed to curb spending, and our national debt is now growing at an accelerating pace. These two things: low tax rates and an accelerating national debt, are not sustainable long-term. With the Tax Cuts and Jobs Act scheduled to sunset at the end of 2025, some families will see their marginal tax bracket rise by as much as 9%. ​ This short window, however, creates a unique opportunity to take advantage of our current tax rates and convert pre-tax retirement assets to tax-free accounts. Taking advantage of today’s low tax rates and positioning retirement assets in an account that the US government will never tax again can not only dramatically reduce your lifetime tax liability it can also significantly increase your likelihood of a safe and secure retirement. By taking the additional cash flow created from our General Tax Planning and growing the retirement savings in the “Never-To-Be-Taxed-Again Bucket,” we have the potential to dramatically reduce your life-time tax burden, reduce the paralyzing impacts of RMD’s (Required Minimum Distributions) and reduce the taxability of your Social Security Benefits. ​ With the opportunities and challenges of the Tax Cuts and Jobs Act, Monotelo’s unique blend of expertise in tax law, retirement planning and wealth management can be a critical factor in helping you reach your short and long-term goals.

One step away to save on your taxes. Schedule a quick 10-minute, no-obligation consultation. UNLOCKING the Missed Deductions of a Home Office Small-business owners should not miss the benefit of a home office deduction out of fear of a tax audit. Going to an office is no longer a requirement of conducting business in the age of the internet, cell phones, Skype and GoTo meetings. This means an increasing number of small-business owners are working from home, and eligible to claim a home office deduction. When Properly implemented, this deduction can make a significant difference in your tax liability.​ ​ WHAT CONSTITUTES A HOME OFFICE? In order to claim a deduction for a home office the IRS requires that a designated space be used exclusively and regularly for business. Going to an office is no longer a requirement of conducting business in the age of the internet, cell phones, Skype and GoTo meetings. Exclusively used for business means it cannot ever be used for personal reasons during the tax year, this includes any type of storage for personal items. Although the office is to be used only for business, the tax code does not mandate that it be a separate room, it can be part of a room - walls are not a requirement. The office must also be used on a regular basis for business. ​ HOW TO DEDUCT EXPENSES FOR THE HOME OFFICE There are two different methods you can use to claim a home office deduction, the actual expense method and the simplified method. ​ ACTUAL EXPENSE METHOD The actual expense method allows you to deduct all direct expenses and a portion of any indirect expenses. Direct expenses are any expenses incurred specifically for the home office, such as painting the office or putting in new carpet. Indirect expenses include any expenses incurred for the home such as mortgage interest, property taxes and utilities. To claim these indirect expenses you need to determine the portion of the expenses that relate to the home office. This can be calculated by dividing the square footage of the office by the square footage of the house. You can also claim depreciation or a rent deduction for the part of the home used for business purposes. On the downside, when you sell the home any depreciation taken needs to be recaptured. This can be an unpleasant surprise come tax time. When using the actual expense method, detailed records and supporting documentation must be kept for all expenses. ​ SIMPLIFIED METHOD If you prefer not to maintain records of these expenses, you can still take a home office deduction using the simplified method. The simplified method is calculated by simply multiplying the square footage of the office by $5 per square foot (up to 300 sq. ft.). The advantage to this method is the IRS does not require you to keep any records that are required by the actual expense method. The main drawback of the simplified method is that you will not be able to deduct your actual expenses if they exceed the allowance of the simplified method. ​ The best solution is to keep track of all of your expenses and then determine at the end of the year which method will provide the greater deduction. ​ MILEAGE Regular commuting to and from work is not a deductible expense, however travel between your primary office located in your home to your second office is classified as business miles that are deductible. This does not mean that you can set up a "home office" to deduct your regular commuting miles. It means that if your home office is where you conduct the majority of your business, you can deduct any mileage to a secondary location. Setting up a home office can potentially create several thousands of dollars in deductible mileage each year. ​ TAKE AWAY Even the smallest home office can unlock significant deductions if the expenses are properly accounted for using either the actual or simplified method. It is very important that the space be used exclusively for business purposes. Save as PDF

A Better Way Our Services Retirement Planning Testimonials Our Team Providing Successful Real Estate Agents With A Proven Path To Reducing Tax Liability. Proactive Tax & Accounting Services That Help You Keep More Of What You Earn Click Here To Schedule Your Free Consultation Now! To Top Anchor 1 A Better Way To Secure Your Financial Future Let us help you keep a higher percentage of your commission. Why Monotelo We will help you keep more of your hard-earned commissions. At Monotelo, we guarantee to save you more on your taxes than what you spend with our firm. How we work with agents We start every new client conversation with a tax discussion. From there, we customize the strategies to your unique situation to maximize your tax savings . Tax tips and Strategies The new tax code radically impacted your tax situation. We continually invest in our education so that when changes happen, we're ready to meet the challenge. White Papers Real world examples of our clients saving between $6,000 and $15,000 per year . White Papers are available to you upon request during your free consultation. Schedule Your Free Consultation Now! To Top Anchor 2 The Tax Planning Services You Deserve Your Tax Savings Come From Our Strategic Advice. Tax Savings Strategies Tax savings for small business owners goes way beyond a simple home office deduction, personal car miles and cell phone bills. Monotelo's tax savings strategies are designed to capture the intersection between the federal tax code and your unique situation as a small business owner. Market Compensation Most S-Corp owners are aware of the tax benefits of separating wage income from S-corp profits, but expose themselves when they fail to address IRS fair market compensation requirements. The Monotelo process is designed to audit-proof your owners' compensation while minimizing your tax liability. Entity Selection Process Your choice of entity matters. LLC, S-Corp, C-Corp, Sole Proprietorship, LLP all have different tax implications; and the best entity structure for your business depends on your unique personal financial situation. Monotelo can help you determine the tax deduction advantages and disadvantages of each option. Entity Structuring When buying or starting a business, one of the first things to consider is the legal form you will use to own and operate the business. Once the ideal entity structure has been identified, Monotelo can help you get your entity in place and equip you to operate within compliance of state and federal regulations. Schedule Your Free Consultation With A Tax Expert Who Can Help You in 2019! To Top Anchor 3 Allocating Your Tax Savings To Create Growth The Tax Cuts and Jobs Act Enacted in January of 2018 shifted the Retirement Planning landscape. The Tax Cuts and Jobs Act radically shifted the Retirement Planning Landscape. Are you taking advantage of the new opportunities? The new tax law instituted several significant changes to the individual income tax, including reforms to itemized deductions, the alternative minimum tax and lower marginal tax rates across brackets. ​ These changes radically impact how small business owners should be preparing for retirement. If your financial plan was put in place prior to December of 2017 you are likely missing out. Don't Procrastinate! Schedule Today! To Top Anchor 4 Hear from other Real Estate Professionals just like You Lisa - Milwaukee, Wisconsin Top 1% of all Wisconsin Agents “I worked all those years with my last CPA, and he helped write off my expenses, but I’ve never had anyone who could help me save money on my taxes the way Monotelo Advisors has for me. I would recommend Monotelo to anyone in the real estate business.” Reggie - Southern Illinois Top 1% of all Illinois Agents "I probably tell five people a week: 'If you want to save money and protect your assets, call Monotelo. If not, keep doing what you're doing.' Monotelo is great at tax planning, and if you are not working with them, you are throwing money away." Rick - Re/Max Broker-Owner Re/Max Catalyst Recognition 8 Years in a Row Rick - Re/Max Broker-Owner Re/Max Catalyst Recognition 8 Years in a Row "I tell my highest producing agents: 'You've got to do better with the money you are making.' Then I tell them to go and talk to Monotelo. We care about all aspects of our agent's business - that's why we brought Monotelo out to speak to all of our high-producing agents." Schedule Now! To Top Anchor 5 Meet Your New Team Jim Richter Tax Planning Expert Jim brings 20+ years of experience in the financial services industry to Monotelo Advisors. Prior to founding Monotelo, Jim spent 7 years as a Managing Director and Partner at PT Asset Management, a $1.7 billion alternative asset manager in Chicago. Prior to his time at PTAM Jim spent 9 years as a fixed income specialist in the banking industry. Jim is 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 Treasury. Gavin Tabb Tax Planning Expert In addition to providing our small business clients with seamless payroll and bookkeeping services, Gavin supports our tax research that drives the strategies our clients employ to save on their federal and state income tax liabilities. Gavin has a Bachelor’s degree in accounting from Northern Illinois University. 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. Gavin is also an Intuit QuickBooks Certified User. Marianne Richter Engagement Manager Marianne is responsible for ensuring that Monotelo delivers a high level of customer service and exceeds the expectations of our small business relationships. Marianne brings 13+ years of diversified training and marketing experience in the consumer goods industry to Monotelo. With a bachelor's degree in marketing, Marianne worked in senior management roles at Kraft Foods for more than a decade. She had national profit and loss responsibility and was responsible for training their national sales teams. To Top Anchor 6 2250 Point Boulevard / Suite 230 Elgin, IL 60123 Office Hours Monday - Friday: 8:00 AM - 5:00 PM CST 800-961-0298 CONNECT WITH US ON SOCIAL MEDIA Schedule Your Free Consultation Now!

Quarterly: Oct 17 Better Thinking... The world is complex, and it can tax our mental resources to process all the information that is coming our way. To keep up with all the data that our minds are processing, we come up with time-saving (and energy saving) rules of thumb, called heuristics. We may be applying these heuristics unconsciously, and they don’t even need to be rational. We simply need to believe them. In Thinking, Fast and Slow, Nobel Prize winner and author Daniel Kahneman breaks down our decision-making process into two systems. To keep things simple he describes them as “System 1” and “System 2.” System 1 is intuitive and emotional. It is fast and easy. “There was a shark attack last week, I am never going to the beach again.” System 2 is deliberative and logical. It is also slow and requires effort. “What are the chances of getting attacked by a shark? Are they higher today than they were last week? Is swimming in the ocean more dangerous than swimming in a community pool?” If I were to ask you “What is 7 times 3?” You could access System 1 and respond immediately with “21.” If I were to ask you “What is 277 times 53?” You could respond with the correct answer, but it would likely require you to tap into System 2 before you answered correctly. System 2 requires a deeper level of thinking, and it requires a near-exclusive devotion to the problem-solving effort. It would be nearly impossible for someone to multiply 277 by 53 in their head while writing out instructions on how to make banana bread - even if they had a great recipe for banana bread stored in their memory. That’s because System 2 thinking requires concentration to solve the problem. The interesting thing about System 2 is that it can morph into System 1 when we spend hundreds or thousands of hours training our mind. Here are two examples: My younger son got his license back in February. When he first started driving, it took all of his concentration to remember where to put his hands on the steering wheel, the rules of the road, and the process of looking ahead, behind and the sides of the road to identify threats. When we first start driving, we go into “System 2” to concentrate on the task at hand. As time goes by, those basic driving and awareness skills become second-nature to us, and driving can move from a System 2 process to a System 1 process. I often listen to podcasts while driving on the interstate. I can do this because System 1 takes over, and driving is second-nature . Another example of this would be Garry Kasparov, who retired from professional chess after being ranked as the world’s top chess player for 20 years. If Gary were to come and play 10 amateur chess players, he could play them all at the same time. We could line them up and Gary could could move from player to player, knowing immediately what his next move would be. The next move on a chess board is second nature for Gary because he has played thousands of games. He knows the implications of moving the rook or moving the queen. He doesn’t need to access System 2 to beat an inexperienced player. The challenge with our System 1 and System 2 thinking is when we "think" we are an expert, or we have a life experience that impacts us. This perception of “expertise” or the impact of life experience can shape our decision-making process in an equally profound way – to our benefit and to our detriment. That’s because these experiences build the heuristics that we use as short-cuts to make decisions, and some of these heuristics are helpful, but some are not. So how do we distinguish between the two? Understanding how System 1 and System 2 work together is critical because we cannot always trust our System 1 intuitions. And a big part of our challenge is that System 1 is so much easier to operate from, because we have all the data to reinforce our personal biases. How do we determine which of these short-cuts lead to better outcomes? Over the next few weeks we will explore how to limit the downside of our System 1/System 2 thinking and how to use these two systems to make better investment decisions. Read Part Two: "...Better Decisions"

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Set up user access in Chase Bank for accountant view-only access: ​ 1. Navigate to the account management section after logging in to your Chase Bank account. ​ 2. From there, select the "Access and Security Manager" option. 3. Next, choose "Add Authorized User." 4. You will then be prompted to input the necessary information for the new user. Enter the first and last name of your Monotelo accountant, as well as the email address and phone number. First & Last Name: John Smith Email: john@monotelo.com Phone number: 800-961-0298 5. Then, on the next page, select only limited access, remove travel, and full access. Hit submit. 6. You can select the appropriate permissions for the new user. In this case, your Monotelo accountant only needs to see activity and check images, documents, and statements. 7. After you select the appropriate permissions, you should review and confirm the information entered and then submit the request. 8. Chase Bank will then email your accountant at the provided email address with instructions on accessing your account at Chase. 9. Your accountant should check their email for the invitation and follow the instructions to accept it. The invitation may expire after 24 hours, so your accountant should accept it immediately. 10. Once your accountant has accepted the invitation and set up their login credentials, they can access your account with view-only access. Congratulations! You have successfully set up user access in Chase Bank for your accountant with view-only access.