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Taxpayers can deduct up to $300 in charitable contributions without itemizing

The Coronavirus Aid, Relief and Economic Security Act (The CARES Act) includes several temporary tax law changes to help charities. This includes the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their deductions. This change allows individual taxpayers to claim a deduction of up to $300…

Signing Wills and Powers of Attorney in the Time of COVID-19

Schlack & McGinnity has the technology in place to facilitate virtual estate plan signings

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The New SECURE Act for Retirement Accounts

. Under the SECURE Act, the beneficiary has only 10 years after the year of the account owner’s death to withdraw the entire retirement account

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Taxpayers Should be Wary of Unsolicited Calls from the IRS

The real IRS will not:

•Call to demand immediate payment
•Call someone if they owe taxes without first sending a bill in the mail
•Demand tax payment and not allow the taxpayer to question or appeal the amount owed
•Require that someone pay their taxes a certain way, such as with a prepaid debit card
•Ask for credit or debit card numbers over the phone
•Threaten to bring in local police or other agencies to arrest a taxpayer who doesn’t pay
•Threaten a lawsuit

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Taxpayers can deduct up to $300 in charitable contributions without itemizing

The Coronavirus Aid, Relief and Economic Security Act (The CARES Act) includes several temporary tax law changes to help charities. This includes the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their deductions. This change allows individual taxpayers to claim a deduction of up to $300

Read More…

Taxpayers Should be Wary of Unsolicited Calls from the IRS

The real IRS will not:

•Call to demand immediate payment
•Call someone if they owe taxes without first sending a bill in the mail
•Demand tax payment and not allow the taxpayer to question or appeal the amount owed
•Require that someone pay their taxes a certain way, such as with a prepaid debit card
•Ask for credit or debit card numbers over the phone
•Threaten to bring in local police or other agencies to arrest a taxpayer who doesn’t pay
•Threaten a lawsuit

Read More...