Metro Tax Relief

09/01/2026

Taxes are complicated. Asking for help is not. Call for an appointment.

08/28/2026

Charitable deductions are frequently challenged or denied during an IRS review. Protect your deduction by understanding the documentation and requirements before making a donation.

Too often a charitable tax deduction is disallowed upon review by the IRS. Don't let this happen to you. Here is what you need to know.

08/25/2026

🌍 Do you have a bank account outside the United States? Don't overlook this important IRS requirement.

If the combined value of your foreign financial accounts exceeded $10,000 at any point during the year, you may be required to file an FBAR (Foreign Bank Account Report).

This isn't about paying more tax. It's about meeting a federal reporting requirement.

Failing to file when required can result in significant penalties, even if you don't owe any additional taxes.

If you have bank accounts, investment accounts, or certain financial assets outside the U.S., don't wait until it's too late. Make sure you're compliant.

📍 Metro Tax Relief
2000 Center Dr., Suite East C204
Hoffman Estates, IL 60192

📞 (847) 250-2007
🌐 MetroTaxRelief.com

Have questions about foreign account reporting? Contact us today. We'll help you understand your filing requirements and stay compliant.

08/21/2026

When an interest rate matters. This is what you need to know.

The IRS often sees the transfer of funds as a loan, whether there is a loan agreement or not. This also means there is an implied term and interest payment. When the IRS says a transaction is a loan, what interest rate do they use? Enter AFRs. Here is what you need to know.

08/20/2026

🏡 Choosing where to retire? Your state could save you thousands... or cost you thousands.

Many people focus on the weather, cost of living, or being closer to family. But there's another factor you shouldn't overlook...

State taxes.

Some states don't tax:
✅ Social Security benefits
✅ Pension income
✅ IRA and 401(k) withdrawals

Others do.

Before you pack the moving truck, make sure you understand how your retirement income will be taxed. A little planning today could help you keep more of your hard-earned money for years to come.

Thinking about retiring or relocating? Let's build a tax strategy before you make your move.

📍 Metro Tax Relief
2000 Center Dr., Suite East C204
Hoffman Estates, IL 60192

📞 (847) 250-2007
🌐 MetroTaxRelief.com

08/19/2026

Ransomware is getting scarier. Here is what you need to know now!

Sometimes it’s the rules that change. Other times, it’s the risks. In this month’s newsletter we’re looking at a little of both. First, the IRS made a midyear change to the standard business mileage rate. Included this month is what changed and a few vehicle-related recordkee...

08/17/2026

📉 Lost money investing in a small business? Don't assume it's a total loss.

If you invested in certain qualified small business stock, you may be able to deduct up to $50,000 of your loss as an ordinary loss, instead of being limited by the usual capital loss rules.

That could mean a significantly bigger tax benefit.

The catch? Not every investment qualifies, and the IRS has specific requirements that must be met.

Before you write off your investment, find out if you're eligible for this valuable tax break.

📍 Metro Tax Relief
2000 Center Dr., Suite East C204
Hoffman Estates, IL 60192

📞 (847) 250-2007
🌐 MetroTaxRelief.com

Let us help you determine whether your investment qualifies and make sure you claim every deduction you're entitled to.

08/14/2026

The amount of your tax bill is often dependent on your age and the age of your children. You need to plan accordingly. Here are the details.

As your children age, you can easily be surprised by a larger tax bill. To help ease the possible burden, here are some possible tax hits to prepare for as your children grow older.

08/14/2026

🎰 If you gamble, there are new tax rules you need to know.

The IRS has updated the rules, and these changes could affect your next tax return.

Here's what changed:
🎲 Only 90% of gambling losses can now be deducted, and only up to the amount of your gambling winnings.
🎰 Casinos now generally report certain gambling winnings to the IRS only when they reach $2,000 or more, replacing several lower reporting thresholds for many types of gambling.

Whether you enjoy casinos, sports betting, poker, or other forms of gambling, understanding these new rules can help you avoid surprises at tax time.

Not sure how these changes affect you? We're here to help.

📍 Metro Tax Relief
2000 Center Dr., Suite East C204
Hoffman Estates, IL 60192

📞 (847) 250-2007
🌐 MetroTaxRelief.com

08/12/2026

Protect your wealth before it's at risk. Learn how tax planning and privacy habits can help reduce taxes, avoid mistakes, and defend against scams targeting your assets.

If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free....