And last but not least is Jon Gerrity! J

And last but not least is Jon Gerrity!

Jon started at McAuley & Crandall in September of 2015 after several years in banking. He is taking coursework at the University of Kansas Edwards Campus toward a Master of Accounting degree. He plans to sit for the CPA exam after graduating.
Jon and his wife, Alyssa, moved to Kansas City from Chicago three years ago. Some of his favorite activities include watching the Royals and Chiefs, participating in his local church, sipping coffee with a good book in hand, and going on walks with Alyssa. They just adopted a baby boy who was born last month.

Next up to Robert Wolfe, III Robert star

Next up to Robert Wolfe, III
Robert started working in public accounting and has been a staff accountant with our company since August 2015. He is currently sitting for the CPA exam. He comes with six seasons of experience as a tax examiner/quality reviewer for the Internal Revenue Service. He graduated from Auburn University Montgomery with a Bachelor of Science in Business Administration. He completed his education at the University of Missouri-Kansas City with a Master of Science Accounting degree.

Robert enjoys volunteering in church and in the community. He also enjoys getting outdoors, playing guitar and bass, and sharing his interest of live event sound and lighting.

First us is our Office Manager Kassie! K

First us is our Office Manager Kassie!

Kassandra Looney is currently pursuing her BS in accounting through Capella University, and is enjoying the opportunity to gain work experience in her chosen field. As office manager, she organizes the office operations and procedures, and maintains the public aspects of our company through marketing and social media.
Kassie is a transplant from the icy wasteland of Alaska. She is enjoying learning about these strange Lower 48 things like “sun” and “heat”. When she isn’t soaking up the sunshine, she can usually be found gardening, reading, or knitting.

They’ve all been here for about 2 month

They’ve all been here for about 2 months but we’d like to introduce our new employees at M&C! Welcome Kassie, Robert & Jon! We will share their bios with you in the upcoming weeks!

They’ve all been here for about 2 month

They’ve all been here for about 2 months but we’d like to introduce our new employees at M&C! Welcome Kassie, Robert & Jon! We will share their bios with you in the upcoming weeks!

Mid-Year Tax Planning Checklist

All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability or help them financially. Fall is the perfect time for tax planning. The following are some events that can affect your tax return; you may need to take steps to mitigate their impact and thus avoid unpleasant surprises after it is too late to address them.

  • Did you get married, divorced, or become widowed?
  • Did you change jobs or has your spouse started working?
  • Did you have a substantial increase or decrease in income?
  • Did you have a substantial gain from the sale of stocks or bonds?
  • Did you buy or sell rental property?
  • Did you start, acquire, or sell a business?
  • Did you buy or sell a home?
  • Did you retire this year?
  • Are you on track to withdraw the required amount from your IRA (age 70.5 or older)?
  • Did you refinance your home or take out a second home mortgage this year?
  • Were you the beneficiary of an inheritance this year?
  • Did you have a child? Time to start a tax-advantaged savings plan!
  • Are you taking advantage of tax-advantaged retirement savings?
  • Have you made any significant equipment purchases for your business?
  • Are your cash and non-cash charitable contributions adequately documented?
  • Are you keeping up with your estimated tax payments or do they need adjusting?
  • Are you aware of and prepared for the 3.8% surtax on net investment income?
  • Did you make any unplanned withdrawals from an IRA or pension plan?
  • Have you updated your income and other information with your Health Marketplace?
  • Have you stayed abreast of every new tax law change?

If you anticipate or have already encountered any of the above events, it may be appropriate to consult with our office, preferably before the event, and definitely before the end of the year.

Reporting Gambling Income and Losses on Your Tax Return

If you play the ponies, play cards or pull the slots, your gambling winnings are taxable. You must report them on your tax return. If you gamble, these IRS tax tips can help you at tax time next year:

  1. Gambling income. Income from gambling includes winnings from the lottery, horse racing and casinos. It also includes cash and non-cash prizes. You must report the fair market value of non-cash prizes like cars and trips.
  2. Payer tax form. If you win, the payer may give you a Form W-2G, Certain Gambling Winnings. The payer also sends a copy of the W-2G to the IRS. The payer must issue the form based on the type of gambling, the amount you win and other factors. You’ll also get a form W-2G if the payer must withhold income tax from what you win.
  3. How to report winnings. You normally report your winnings for the year on your tax return as “Other Income.” You must report all your gambling winnings as income. This is true even if you don’t receive a Form W-2G.
  4. How to deduct losses. You can deduct your gambling losses on Schedule A, Itemized Deductions. The amount you can deduct is limited to the amount of the gambling income you report on your return.
  5. Keep gambling receipts. You should keep track of your wins and losses. This includes keeping items such as a gambling log or diary, receipts, statements or tickets.

See Publications 525, Taxable and Nontaxable Income for rules on this topic. Refer to Publication 529, Miscellaneous Deductions for more on losses. It also lists some of the types of records you should keep. You can download and view both on at any time.

This message was distributed automatically from the IRS Tax Tips mailing list. For more information on federal taxes please visit

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