The Wozny Tax Company

06/03/2026

The IRS sends you a notice! What to do? This month's letter walks you through the process, plus much more!

As summer settles in and schedules fill up, a few smart decisions now can help you avoid costly surprises later. In this issue, there are strategies to strengthen your financial footing – from midyear tax planning opportunities to knowing when to call for help with an IRS notice. There is also...

05/06/2026

Want a lower tax bill? Your tax planning needs to start now!

With so much uncertainty in the economy, the tendency is to step back and wait until things settle down. On the other hand the early bird catches the worm. Now is a great time to be thinking about steps to reduce your tax obligations, both this year and into the future. This month an article is pres...

04/13/2026

Worked overtime in 2025? Here is an important tax update.

There is a new federal deduction for qualified overtime compensation. In general, it applies to the portion of overtime pay above your regular rate, not the entire overtime amount. The deduction is available for 2025 through 2028, with a maximum annual deduction of $12,500 for most filers and $25,000 for joint filers, subject to income phaseouts and other eligibility rules.

That is why broad social media claims can be misleading. Actual tax savings depend on your situation, including how much qualified overtime you received, your filing status, and your income.

At The Wozny Tax Company, we help individuals and business owners in Mokena understand tax changes, payroll-related issues, and filing requirements with more clarity. Our local service content also emphasizes payroll compliance support, IRS filing guidance, and year-round tax help for businesses.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

04/10/2026

Business owners, here is an important 2025 reminder about meals and entertainment deductions.

The general rule is that client entertainment is nondeductible, while many business meals are generally 50% deductible. Recreational employee events, like holiday parties or team celebrations, can still qualify for 100% deductibility. There is also an important exception when meals or entertainment are treated as taxable compensation and included in an employee’s wages.

That is why this category causes so much confusion. Two expenses may both involve food or an event, but they can be treated very differently depending on who attended, the business purpose, and how the expense is reported.

At The Wozny Tax Company, we help business owners in Mokena review expense categories, improve bookkeeping, and reduce mistakes before tax time.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

04/08/2026

Business owners, here is an important reminder about meals and entertainment deductions.

The temporary rule that allowed many restaurant meals to be 100% deductible was limited to 2021 and 2022. For purchases made in 2023 and after, most business meals generally return to 50% deductible treatment, and entertainment expenses are generally not deductible. Some exceptions may still apply depending on the type of expense.

This is where business owners can run into trouble. A dinner with a client, office snacks, a staff event, or tickets for entertainment may not all be handled the same way.

At The Wozny Tax Company, we help business owners in Mokena understand expense categories, keep better records, and make sure deductions are handled properly at tax time.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

04/06/2026

Business owners, here is an important BOI update.

FinCEN changed the beneficial ownership information reporting rules. At this time, entities created in the United States are generally exempt from BOI reporting, while certain foreign entities registered to do business in the United States may still have filing obligations.

This is a good reminder not to rely on older BOI posts, early 2024 summaries, or outdated social media graphics without checking current guidance.

If you are not sure whether your company is affected, The Wozny Tax Company can help you review your situation and understand what may apply to your business.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

04/03/2026

Got a letter from the IRS? Do not panic.

IRS letters are sent out every year for many different reasons. Sometimes it is a request for clarification. Sometimes it is a balance notice. Sometimes it relates to something simple that needs attention.

What matters most is how you respond.

Ignoring the letter can make the situation worse, but getting professional guidance early can help you understand what the notice means and what steps to take next.

At The Wozny Tax Company, we help clients in Mokena review IRS notices and respond appropriately. If you receive a letter, contact our office and send us a copy. We can help you determine what it means and what should happen next.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

04/01/2026

From American tax history to everyday money habits, this issue connects past and present. Test your tax history knowledge, reset your finances, and rethink the tech ideas shaping your decisions.

Anniversaries have a way of bringing forgotten pieces of history back into view. As the United States marks 250 years of independence in 2026, we're reminded that money has shaped our national story in surprising and sometimes strange ways. In this month’s newsletter, test your own knowledge a...

04/01/2026

Are you waiting for your tax refund?

One of the most common questions during filing season is how to track a refund and what to do if it seems delayed.

In many cases, the process starts with making sure your tax return was filed correctly and that your personal information matches your records. Even simple issues can create delays or confusion.

At The Wozny Tax Company, we help taxpayers in Mokena understand the filing process, avoid common mistakes, and move through tax season with more confidence.

If you have questions about your return, refund timing, or tax preparation, our team is here to help.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]

03/30/2026

Thinking of starting a business?

Before you file paperwork or choose an entity online, it is worth taking time to understand what structure fits your business best.

Your accountant can help you compare the pros and cons of different entity types and explain which option may align best with your financial goals. Over the years, we have helped set up hundreds of corporations and guided business owners through the early decisions that can affect taxes, compliance, and long-term growth.

At The Wozny Tax Company, we know there is no one-size-fits-all business setup. Every business is unique, and the right approach depends on your specific goals and operations.

If you are planning to start a business in Mokena, Frankfort, New Lenox, Tinley Park, Orland Park, or nearby areas, our team is here to help.

The Wozny Tax Company
9400 Bormet Dr Ste 7, Mokena, IL 60448
1 (708) 479-1700
[email protected]