Take a look at our newsletter this month.
SPRING 2019
LEGAL ANSWERS ALL THE ANSWERS TO YOUR LEGAL QUESTIONS
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A REVIEW OF 2018 Our Firm’s Best Experiences
Be sure to tune in to our new show,“Trust Radio Network.”The podcast will air on Facebook Live on Friday afternoons every week at 1 p.m. We will then air on the radio at AM 560 The Answer on Saturdays at 10 p.m. With 2019 already in full swing, I find that it’s so easy to get caught up in the chaos of NewYear’s festivities and resolution-setting sessions that I forget to reflect on all the great events of the year past. To that end, my team and I wanted to take this edition to acknowledge and celebrate some of our best experiences in 2018. First and foremost, last year brought us our new radio show,“Trust Radio Network,”a weekly segment in which my nephew Jim and I help our listeners get in touch with trusted professionals in the area who are dedicated to providing their very best service to customers. While my first show,“IRS Radio Hour,”focused on debt and tax issues, the“Trust Radio Network”allows Jim and me to meet and converse with experts in multiple fields, such as David Hochberg of Pearl Mortgage, Tom Sodeika of Precision Payroll of America, Roy Spencer of Perma- Seal, and JimMorici of Morici Figlioli and Associates. So far, we’ve already covered topics associated with finances, real estate, home repair, and legal matters. “While the sole purpose of this new show was to connect our listeners with experts who could provide them with guidance and advice, Jim and I have very much enjoyed the people we’ve met in association withWIND AM 560 The Answer.” While the sole purpose of this new show was to connect our listeners with experts who could provide themwith guidance and advice, Jim and I have very much enjoyed the people we’ve met in association withWIND AM 560 The Answer. Through mutual connections, we’ve been able to meet Ben Shapiro, Sheriff David Clarke, Oliver North, Hugh Hewitt, and Dennis Prager, all of whom are well-known and widely respected radio hosts throughout the U.S. Getting to sit down and learn their trade secrets provided some of the highlights of 2018.
In addition to the great experiences the show brought us, we also made several changes within our office to help make our clients’experiences better. For example, we brainstormed ways to make our website easier for clients to interact with. We started by tying our show’s website and our Facebook page to our business website in order to streamline communication for our clients and save them time. We also upgraded all of our online security. While we are constantly innovating to ensure the protection of our clients’personal information, we are particularly satisfied with our most recent upgrade. Lastly, we have had to rework our teamwhile our main case manager, Michael Norris, is out on medical leave. Mike is feeling better and will return in February 2019. While we can’t entirely know what the rest of 2019 will bring, I am particularly looking forward to the annual trip my wife and I get to take with the group from AM 560 The Answer. We’ve gone every year, and each time, the trip seems to get more fun. I can’t wait to find out this year’s destination and see what the rest of the year brings!
–Steven Leahy
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BREAKING THROUGH THE TV TERMINOLOGY
4K, HDR, and OLED Defined
HDR High Dynamic Range, or HDR, is a type of image processing. When an image is processed, HDR is used to increase or decrease the luminosity of the image. It means bright whites, deeper blacks, and improved colors overall. It’s been used in photography for decades and in video since the 1990s. Most 4K TVs have built-in HDR processing, resulting in better color quality, which translates to better image quality overall.
When you shop for a new TV these days, you’re greeted with a bevy of acronyms and numbers — marketing terms you can’t make sense of. These are terms like 4K, HDR, and OLED, just to name a few. TV makers leave it up to you to figure out what these terms mean. Well, look no further. We’re going to cut through the marketing speak and get to the point. Here’s what today’s popular TV marketing terms really mean.
4K The TV buzzword “4K” has replaced “HDTV” and “1080p” as the go-to marketing term. In short, it’s a reference to the number of pixels on the screen. Standard high-definition TVs (1080p) have a vertical resolution of 1,080 pixels and a horizontal
OLED Short for organic light-emitting diode, OLED TVs feature a microscopically thin layer of an organic compound that
emits light when an electric current is introduced. Typical LED TVs rely on a backlight in order to produce a lit, visible image. These backlights
resolution of 1,920. Here’s where it gets weird. 4K TVs have a vertical resolution of 2,160 pixels with a horizontal resolution of 3,840. Marketers decided to swap the vertical resolution as their reference point with the horizontal resolution, because higher numbers are more impressive, right? But 4K TVs seem to fall short of the moniker. Regardless, these TVs have improved color and image quality over standard HD, but you have to have devices — such as the PlayStation 4 Pro or a Blu-ray player — or
take up space, resulting in a thicker TV. The major advantage of OLED TVs is they are incredibly thin and light, and they produce deeper
blacks for an improved color and image quality.
services that output in 4K to take advantage of the
boost in pixels.
What Our Clients Are Saying
"I shopped around for a great lawyer until I found this office. I am not a person who usually writes reviews, but this is an exception. The reviews are real, the service provided is honest, and everything is clear and to the point. I am proud to say that attorney Steven A. Leahy is truly a first- class lawyer. Thank you so much for what you have done. Thank you for representing me. I can say that I am proud to have you as my attorney. Mr. Leahy cares about his clients and does his best. There are no other words to express my appreciation. Thank you!" –Jorge D.
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What’s the Best Valentine’s Day Plan? When most people plan for Valentine’s Day, they think of romance, love, roses, and Champagne. Very few would consider Valentine’s Day the perfect time to think about their taxes. But in reality, just as your relationship status affects how you spend your day on Feb. 14, it also affects your tax situation. Under U.S. tax law, for all individual returns, there are five filing statuses, all of which depend on the legal nature of your relationship or lack thereof. Choosing the right filing status is crucial to lowering your tax rate and providing higher tax credits. Here are three questions you can ask yourself this Valentine’s Day to determine which filing status will be most beneficial for you and your sweetheart. Are You Recently Divorced? If you are single and you provide more than half of the household support for yourself and a dependent, you may be able to claim the Head of Household status. This filing status allows the second-lowest overall taxes and standard deduction amount. Are You Separated?
If you’ve been separated from your spouse since June 30, you may be considered “unmarried” for tax purposes and be eligible for the Head of Household filing status. If you aren’t able to claim this status and you aren’t married, your filing status is Single. Filing taxes can be a complicated process, especially if you’ve undergone a relationship change during the past year. For this reason, we suggest that you take some time this month to consider your filing status. If you run into any issues or have questions, feel free to give our office a call.
Did You Just Get Married?
Marital status for taxes is determined on Dec. 31. Even if you got married on New Year’s Eve, as long as it is a legal marriage under state law, you are considered married for the whole year. Conversely, if you got divorced on that last day of the year, you are considered single for the full year. Generally speaking, Married Filing Jointly is the best filing option because it has the lowest overall taxes, allows two personal exemptions (even if only one spouse worked), and has the highest standard deduction amount.
MEMES Don't forget to listen to the "IRS Radio Hour" every SUNDAY AT 5 P.M. ON AM 560 THE ANSWER
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Phone: (312) 664-6649 chicagotaxteam.com 150 N Michigan Ave #1120, Chicago, Illinois 60601
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The Best Parts of 2018!
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Breaking Through the TV Terminology Hear From Our Clients
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Valentine’s Day and Tax Preparation Sudoku
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3 Ways Nature Improves Your Health
A Walk in the Woods Is the Prescription Our ancestors were deeply connected to their natural environment, mostly because their survival depended on it. With no Whole Foods available, those who could students who had walked in the arboretum, performed 20 percent better on the memory test. Group B didn’t show any marked improvement. Additional research has corroborated the memory-enhancing effects of nature.
best track a mammoth, find water, and forage for edible plants kept themselves alive and passed on their genes. Given our history as hunter-gatherers, it’s no wonder contact with nature provides us with several health benefits.
A Mood Boost Observing the benefits nature has for cognitive function, scientists wondered what effects it might have on individuals diagnosed with depression. In one study from the University of Essex, participants with major depressive disorder reported an improvement in self-esteem and mood after spending time in nature. Exercising while in nature resulted in even more of a mood boost for participants. A Calming Effect Research also shows that spending time in nature reduces stress. In a study conducted by Chiba University in Japan, participants spent two nights in the forest. Researchers evaluated their levels of stress hormones during and after this period and compared it to their normal work days in the city. Across the board, participants’ stress levels were much lower during the days spent in the forest and for several days afterward. Today, we’re less connected to our natural environment than our ancestors were. Modern comforts and technology mean we don’t have to go outside to get our food. But nature is still accessible and you don’t have to go far to find it. In many of the studies, even minor exposure to the outdoors, like adding plants to your home or looking out a window during work, showed health benefits. This winter, find ways to bring a little more nature into your life each day. Your brain will thank you.
A Memory Boost In a University of Michigan study, a group of students were asked to take a memory test that involved repeating numbers back to researchers. Next,
researchers separated the students into two groups. Group A took a walk around an
arboretum and Group B walked along busy city streets. Afterward, they were asked to take the memory test again. Group A, the
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