Source: http://mcmillenchtd.com/year-end-client-letter.php
Timestamp: 2019-01-20 09:39:13
Document Index: 284508168

Matched Legal Cases: ['§401', '§403', '§457', '§401', '§401', '§401', '§403', '§457', '§401', '§403', '§403', '§457', '§401', '§168']

Great Bend, KS Accounting Firm | 2017 Year-End Client Letter Page | D. McMillen Chtd
2017 Client Tax Update & Planning Memo
As 2017 draws to a close, there is still time to reduce your 2017 tax bill and plan ahead for 2018. This letter highlights several potential tax-saving opportunities for you to consider. We would be happy to meet with you to discuss specific strategies. As you may know, the government is aiming to significantly alter the tax code. The information below is the current law and if the law changes, we will update you with that information. We have identified some areas of concern/opportunity in the material below.
Because many tax benefits are tied to or limited by adjusted gross income (AGI)—IRA deductions, for example—a key aspect of tax planning is to estimate both your 2017 and 2018 AGI. Also, when considering whether to accelerate or defer income or deductions, you should be aware of the impact this action may have on your AGI and your ability to maximize itemized deductions that are tied to AGI. Your 2016 tax return and your 2017 pay stubs and other income- and deduction-related materials are a good starting point for estimating your AGI.
Another important number is your “tax bracket,” i.e., the rate at which your last dollar of income is taxed. The tax rates for 2017, barring any changes in Congress before the end of the year, will be 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. Although tax brackets are indexed for inflation, if your income increases faster than the inflation adjustment, you may be pushed into a higher bracket. If so, your potential benefit from any tax-saving opportunity is increased (as is the cost of overlooking that opportunity).
Annual Gift Tax Exclusion: The most commonly used method for tax-free giving is the annual gift tax exclusion, which, for 2017, allows a person to give up to $14,000 to each donee without reducing the giver's estate and lifetime gift tax exclusion amount. A person is not limited as to the number of donees to whom he or she may make such gifts. Further, because the annual exclusion is applied on a per-donee basis, a person can leverage the exclusion by making gifts to multiple donees (family and non-family). Thus, if an individual makes $14,000 gifts to 10 donees, he or she may exclude $140,000 from gift tax. In addition, because spouses may combine their exclusions in a single gift from either spouse, married givers may double the amount of the exclusion to $28,000 per donee. A person may not carry over his or her annual gift tax exclusion amount to the next calendar year. Qualifying tuition payments and medical payments do not count against this limit.
IRA, Retirement Savings Rules for 2017
Traditional IRAs: Individuals who are not active participants in an employer pension plan may make deductible contributions to an IRA. The annual deductible contribution limit for an IRA for 2017 is $5,500. For 2017, a $1,000 “catch-up” contribution is allowed for taxpayers age 50 or older by the close of the taxable year, making the total limit $6,500 for these individuals. Individuals who are active participants in an employer pension plan also may make deductible contributions to an IRA, but their contributions are limited in amount depending on their AGI. For 2017, the AGI phase-out range for deductibility of IRA contributions is between $62,000 and $72,000 of modified AGI for single persons (including heads of households), and between $99,000 and $119,000 of modified AGI for married filing jointly. Above these ranges, no deduction is allowed.
In addition, an individual will not be considered an “active participant” in an employer plan simply because the individual's spouse is an active participant for part of a plan year. Thus, you may be able to take the full deduction for an IRA contribution regardless of whether your spouse is covered by a plan at work, subject to a phase-out if your joint modified AGI is $186,000 to $196,000 ($0 - $10,000 if married filing separately) for 2017. Above this range, no deduction is allowed.
IRA Rollovers: For 2017, taxpayers may make only one IRA-to-IRA rollover per year. (Direct rollovers from trustee to trustee are not affected.) An attempted rollover after the first will be treated as a withdrawal and taxed at regular rates, plus a possible 10% early withdrawal penalty.
Spousal IRA: If an individual files a joint return and has less compensation than his or her spouse, the IRA contribution is limited to the lesser of $5,500 for 2017 plus age 50 catch-up contributions ($1,000 for 2017), or the total compensation of both spouses reduced by the other spouse's IRA contributions (traditional and Roth).
Roth IRA: This type of IRA permits nondeductible contributions of up to $5,500 ($6,500 if making catch-up contribution) for 2017, but no more than an individual's compensation. Earnings grow tax-free, and distributions are tax-free provided no distributions are made until more than five years after the first contribution and the individual has reached age 591/2. Distributions may be made earlier on account of the individual's disability or death. The maximum contribution is phased out in 2017 for persons with an AGI above certain amounts: $186,000 to $196,000 for married filing jointly, and $118,000 to $133,000 for single taxpayers (including heads of households); and between $0 and $10,000 for married filing separately who lived with the spouse during the year.
If you already made a conversion earlier this year, you have the option of undoing the conversion. This is a useful strategy if the investments have gone down in value so that if you were to do the conversion now, your taxes would be lower. This is a complicated calculation and we should meet to determine what your best options are.
In addition, for 2017, if your §401(k) plan, §403(b) plan, or governmental §457(b) plan has a qualified designated Roth contribution program, a distribution to an employee (or a surviving spouse) from such account under the plan that is not a designated Roth account is permitted to be rolled over into a designated Roth account under the plan for the individual.
401(k) Contribution: The §401(k) elective deferral limit is $18,000 for 2017. If your §401(k) plan has been amended to allow for catch-up contributions for 2017 and you will be 50 years old by December 31, 2017, you may contribute an additional $6,000 to your §401(k) account, for a total maximum contribution of $24,000 ($18,000 in regular contributions plus $6,000 in catch-up contributions).
SIMPLE Plan Contribution: The SIMPLE plan deferral limit is $12,500 for 2017. If your SIMPLE plan has been amended to allow for catch-up contributions for 2017 and you will be 50 years old by December 31, 2017, you may contribute an additional $3,000.
Catch-Up Contributions for Other Plans: If you will be 50 years old by December 31, 2017, you may contribute an additional $6,000 to your §403(b) plan, SEP or eligible §457 government plan.
Saver's Credit: A nonrefundable tax credit is available based on the qualified retirement savings contributions to an employer plan made by an eligible individual. For 2017, only taxpayers filing joint returns with AGI of $62,000 or less, head of household returns with AGI of $46,500 or less, or single returns (or separate returns filed by married taxpayers) with AGI of $31,000 or less, are eligible for the credit. The amount of the credit is equal to the applicable percentage (10% to 50%, based on filing status and AGI) of qualified retirement savings contributions up to a maximum credit of $2,000.
Required Minimum Distributions: For 2017, taxpayers who are at least 701/2 must take their required minimum distribution from IRAs or defined contribution plans (§401(k) plans, §403(a) and§403(b) annuity plans, and §457(b) plans that are maintained by a governmental employer). The distribution must be taken by December 31, 2017. However, if you turn 70 1/2 during 2017, the first distribution is not required until April 1, 2018. Note that because April 1, 2018, falls on a Sunday, you will need to withdraw the cash or sell securities to meet this requirement on an earlier day, like, Friday, March 30, 2018.
Maximize Retirement Savings: In many cases, employers will require you to set your 2018 retirement contribution levels before January 2018. But, if you did not elect the maximum §401(k)contribution for 2017, you may be able to increase your amount for the remainder of 2017 to lower your AGI in order to take advantage of some of the tax breaks described above. Maximizing your contribution is generally a good tax-saving move.
Deferring Income to 2018
If you expect your AGI to be higher in 2017 than in 2018, or if you anticipate being in the same or a higher tax bracket in 2017, you may benefit by deferring income to 2018. Deferring income will be advantageous so long as the deferral does not bump your income to the next bracket. Some ways to defer income include:
Delay Billing: If you are self-employed and on the cash-basis, delay year-end billing to clients so that payments will not be received until 2018.
Interest and Dividends: Interest income earned on Treasury securities and bank certificates of deposit with maturities of one year or less is not includible in income until received. To defer interest income, consider buying short-term bonds or certificates that will not mature until next year. If you might receive dividends from a closely held company, we should discuss the timing of receipt of those dividends.
In limited circumstances, you may benefit by accelerating income into 2017. For example, you may anticipate being in a higher tax bracket in 2018, or perhaps you will need additional income in order to take advantage of an offsetting deduction or credit that will not be available to you in future tax years. Note however that accelerating income into 2017 will be disadvantageous if you expect to be in the same or lower tax bracket for 2018. In any event, before you decide to implement this strategy, we should “crunch the numbers.” A couple ways to accomplish this is accelerate collection of accounts receivable or receiving yearend bonuses normally paid after first of the year. If you are over the age of 591/2 and you participate in an employer retirement plan or have an IRA, consider making any taxable withdrawals before 2018. You may also consider making a Roth IRA rollover distribution, as discussed above.
Deduction timing is also an important element of year-end tax planning. Deduction planning is complex, however, due to factors such as AGI levels, AMT and filing status. If you are a cash-method taxpayer, remember to keep the following in mind:
Payment by Check: Date checks before the end of the year and mail them before January 1, 2018.
Promise to Pay: A promise to pay or providing a note does not permit you to deduct the expense. But you can take a deduction if you pay with money borrowed from a third party (i.e. a bank or lending institution). Hence, if you pay by credit card in 2017, you can take the deduction even though you won't pay your credit card bill until 2018.
AGI Limits for 2017: The overall limitation on itemized deductions (“Pease” limitation) applies to taxpayers whose AGI exceeds an “applicable amount.” For 2017, the applicable amount is $313,800 for a married couple filing a joint return or a surviving spouse, $287,650 for a head of household, $261,500 for an unmarried individual, and $156,900 for a married individual filing a separate return. In addition, certain deductions may be claimed only if they exceed a percentage of AGI: 10% for medical expenses, 2% for miscellaneous itemized deductions, and 10% for casualty losses (except in the case of a casualty loss due to the recent hurricanes).
Standard Deduction Planning: Deduction planning is also affected by the standard deduction. For 2017 returns, unless changed by tax reform legislation, the standard deduction is $12,700 for married taxpayers filing jointly, $6,350 for single taxpayers, $9,350 for heads of households, and $6,350 for married taxpayers filing separately. As you can see from the numbers, for 2017, the standard deduction for married taxpayers is twice the amount as that for single taxpayers. If your itemized deductions are relatively constant and are close to the standard deduction amount, you will obtain little or no benefit from itemizing your deductions each year. But simply taking the standard deduction each year means you lose the benefit of your itemized deductions. To maximize the benefits of both the standard deduction and itemized deductions, consider adjusting the timing of your deductible expenses so that they are higher in one year and lower in the following year. You can do this by paying in 2017 deductible expenses, such as mortgage interest due in January 2018, state estimated tax payments due in early 2018, or doubling up on your charitable contributions every other year.
Medical Expenses: For 2017, medical expenses, including amounts paid as health insurance premiums, are deductible only to the extent that they exceed 10% of AGI for all taxpayers. Unless extended by Congress, 2016 was the last year the special 7.5% limitation applied for taxpayers age 65 or older.
State Taxes: If you anticipate a state income tax liability for 2018 and plan to make an estimated payment most likely due in January, consider making the payment before the end of 2017. Or, you may elect to itemize and deduct state and local general sales taxes in lieu of the itemized deduction for state and local income taxes on your 2017 return. Note that there are discussions in Congress on whether the state and local tax deduction will be eliminated during tax reform efforts. It's uncertain when this elimination, if it occurs, will be effective. If an elimination becomes effective for 2018, you will want to accelerate your deductions into 2017.
Charitable Contributions: Consider making your charitable contributions at the end of the year. This will give you use of the money during the year and simultaneously permit you to claim a deduction for that year. You can use a credit card to charge donations in 2017 even though you will not pay the bill until 2018. A mere pledge to make a donation is not deductible, however, unless it is paid by the end of the year. Note, however, for claimed donations of cars, boats and airplanes of more than $500, the amount available as a deduction will significantly depend on what the charity does with the donated property, not just the fair market value of the donated property. If the organization sells the property without any significant intervening use or material improvement to the property, the amount of the charitable contribution deduction cannot exceed the gross proceeds received from the sale. If you make a qualifying charitable contribution targeted for hurricane relief efforts by December 31, 2017, a just enacted law allows you to elect to suspend the percentage limitations and certain other rules relating to the income tax deduction. To avoid capital gains, you may want to consider giving appreciated property to charity.
Equipment Purchases: If you are in business and purchase equipment, you may make a “section 179 election,” which allows you to expense (i.e., currently deduct) otherwise depreciable business property. For 2017, the allowable deduction is $510,000 (with a phase-out for purchases in excess of $2,030,000). [Bloomberg BNA projects the 2018 limits to be $520,000/$2,070,000, respectively.] One tax reform proposal is to allow full expensing on equipment purchases done after September 27, 2017, which would make the dollar amounts moot.
In addition, careful timing of equipment purchases can result in favorable depreciation deductions in 2017. In general, under the “half-year convention,” you may deduct six months’ worth of depreciation for equipment that is placed in service on or before the last day of the tax year. (If more than 40% of the cost of all personal property placed in service occurs during the last quarter of the year, however, a “mid-quarter convention” applies, which lowers your depreciation deduction.) Cars/vans/trucks are typically limited in the amount of first-year expensing/depreciation. If bonus depreciation is not claimed, the limit is $3,160 for 2017 ($3,560 in the case of vans and trucks). If bonus depreciation is taken, the 2017 amounts increase to $11,160 for cars and $11,560 for vans and trucks. A popular strategy in recent years is to purchase a vehicle for business purposes that exceeds the depreciation limits set by statute (i.e., a vehicle rated over 6,000 pounds). Such vehicle would qualify for the full equipment expensing dollar amount. However, for SUVs (rated more than 6,000 but not over 14,000 pounds gross vehicle weight) the expensing amount is limited to $25,000. Note that beginning in 2018, a phase-down period begins to lower the increase in depreciation limits when bonus depreciation is taken from $8,000 (2017) to $6,400 (2018). To maximize the first-year deprecation it is best to put the vehicle in service in 2017 if you were contemplating this action in the next few months.
Bonus Depreciation: Fifty percent bonus depreciation under §168(k) for assets purchased and placed in service in 2017 is available; you must elect out of bonus depreciation if you do not wish to take advantage of it. For qualifying assets placed in service in 2018, bonus depreciation is scheduled to be lower at 40%. If full expensing, as mentioned below, becomes law in 2017, bonus depreciation would become moot.
Child Tax Credit: A tax credit of $1,000 per qualifying child under the age of 17 is available on this year's return. In order to qualify for 2017, the taxpayer must be allowed a dependency deduction for the qualifying child. Another qualifying determination is that the qualifying child must be younger than the taxpayer. The credit is phased out at a rate of $50 for each $1,000 (or fraction of $1,000) of modified AGI exceeding the following amounts: $110,000 for married filing jointly; $55,000 for married filing separately; and $75,000 for all other taxpayers. These amounts are not adjusted for inflation. A portion of the credit may be refundable. The threshold earned income level to determine refundability is set by statute at $3,000. A newly enacted law aimed at helping taxpayers that suffered losses from the recent hurricanes allows a taxpayer to substitute 2016 earned income for 2017 earned income, if higher, for calculating the refundable portion of the child tax credit. A higher earned income can lead to a greater tax credit amount.
Education Credits: The American Opportunity Tax Credit is available for qualified tuition and fees paid on behalf of a student (i.e., the taxpayer, the taxpayer's spouse, or a dependent) who is enrolled on at least a half-time basis. The maximum credit is $2,500 (100% on the first $2,000, plus 25% of the next $2,000). The credit is available for the first four years of the student's post-secondary education. The credit is phased out at modified AGI levels between $160,000 and $180,000 for joint filers and between $80,000 and $90,000 for other taxpayers. Forty percent of the credit is refundable, which means that you can receive up to $1,000 even if you owe no taxes. The term “qualified tuition and related expenses” includes expenditures for “course materials” (books, supplies, and equipment needed for a course of study whether or not the materials are purchased from the educational institution as a condition of enrollment or attendance). One way to take advantage of the credit for 2017 is to prepay spring 2018 tuition. In addition, if you know what books your student will need for the spring 2018 semester, those can be bought in 2017 and the costs qualify for the credit for 2017.
The Lifetime Learning credit maximum in 2017 is $2,000 (20% of qualified tuition and fees up to $10,000). A student need not be enrolled on at least a half-time basis so long as he or she is taking post-secondary classes to acquire or improve job skills. As with the American Opportunity Tax Credit, eligible students include the taxpayer, the taxpayer's spouse, or a dependent. For 2017, the Lifetime Learning credit is phased out at modified AGI levels between $112,000 and $132,000 for joint filers and between $56,000 and $66,000 for single taxpayers.
Student Loan Interest: You may be eligible for an above-the-line deduction for student loan interest paid on any “qualified education loan.” The maximum deduction is $2,500. The deduction for 2017 is phased out at a modified AGI level between $130,000 and $160,000 for joint filers and between $65,000 and $80,000 for individual taxpayers.
Kiddie Tax: The kiddie tax applies to: (1) children under 18 who do not file a joint return; (2) 18-year-old children who have unearned income in excess of the threshold amount, do not file a joint return, and who have earned income, if any, that does not exceed one-half of the amount of the child's support; and (3) children between the ages of 19 and 23 if, in addition to the above rules, they are full-time students. A parent may elect to include a child's gross income in the parent's gross income and to calculate the “kiddie tax.” One of the requirements for the parental election is that a child's gross income is more than $1,050 but less than $10,500 for 2017. If a child has more than $2,100 for 2017 in interest, dividends, and other unearned income, and the income is not or cannot be reported on a parent's return by filing Form 8814, part of that income may be taxed to the child at the parent's tax rate instead of the child's tax rate.
Achieving a Better Life Experience (ABLE) Accounts: This is a relatively new type of savings account for individuals with disabilities and their families. For 2017, taxpayers can contribute up to $14,000 (tied to the annual gift tax exclusion, which is projected to be $15,000 in 2018). Distributions are tax-free if used to pay the beneficiary's qualified disability expenses.
Residential Energy Efficient Property Credit: Tax incentives are available to taxpayers who install certain energy efficient property, such as photovoltaic panels and solar water heating property. A credit is available for the expenditures incurred for such property up to a specific percentage. If you have made improvements to your home or plan to by the end of 2017, please contact me to discuss the amount of the credit you may qualify for.
Small Employer Pension Plan Startup Cost Credit: For 2017, certain small business employers that did not have a pension plan for the preceding three years may claim a nonrefundable income tax credit for expenses of establishing and administering a new retirement plan for employees. The credit applies to 50% in qualified administrative and retirement-education expenses for each of the first three plan years. However, the maximum credit is $500 per year.
Employer-Provided Child Care Credit: For 2017, employers may claim a credit of up to $150,000 for supporting employee childcare or childcare resource and referral services. The credit is allowed for a percentage of “qualified child care expenditures” including for property to be used as part of a qualified child care facility, for operating costs of a qualified child care facility and for resource and referral expenditures.
The following rules apply for most capital assets in 2017:
Continuing from enactment in 2013, a 3.8% tax is levied on certain unearned income. The tax is levied on the lesser of net investment income or the amount by which modified AGI exceeds certain dollar amounts ($250,000 for joint returns and $200,000 for individuals). Investment income is: (1) gross income from interest, dividends, annuities, royalties, and rents (other than from a trade or business); (2) other gross income from any business to which the tax applies; and (3) net gain attributable to property other than property attributable to an active trade or business. Investment income does not include distributions from a qualified retirement plan or amounts subject to self-employment tax. This rule applies mostly to passive businesses and the trading in financial instruments or commodities. With this additional tax, the maximum net capital gains rate is 23.8% in 2017. Because distributions from qualified retirement plans are not subject to the tax, taxpayers may want to invest in retirement accounts, if possible, rather than taxable accounts.
Dividends: Qualifying dividends received in 2017 are subject to rates similar to the capital gains rates. Therefore, qualifying dividends are taxed at a maximum rate of 20% (23.8% is subject to the net investment tax). Qualifying dividends include dividends received from domestic and certain foreign corporations.
Individual Mandate: Under the 2010 health care reform law sometimes called Obamacare, in 2017, there is an individual mandate requiring individuals and their dependents to have health insurance that is minimum essential coverage or pay a penalty unless they are exempt from the requirement. Many people already have qualifying coverage, which can be obtained through the individual market, an employer-provided plan or coverage, a government program such as Medicare or Medicaid, or an Exchange. For lower-income individuals who obtain health insurance in the individual market through an Exchange, a premium tax credit and cost-sharing reduction may be available to offset the costs.
Credit for Employee Health Insurance Expenses of Small Employers: For tax years beginning after 2009, eligible small employers are allowed a credit for certain expenditures to provide health insurance coverage for their employees. Generally, employers with 10 or fewer full-time equivalent employees (FTEs) and an average annual per-employee wage of $25,900 or less are eligible for the full credit. The credit amount begins to phase out for employers with either 11 FTEs or an average annual per-employee wage of more than $25,900. The credit is phased out completely for employers with 25 or more FTEs or an average annual per-employee wage of $51,800 or more. The credit is available on a sliding scale for up to 50% of the employer’s contribution toward employee health insurance premiums, is only allowable if the health insurance is purchased through a Small Business Health Options Program (SHOP) Exchange. The credit is only available only for two consecutive taxable years after 2013, so it is not available to you if you or a predecessor claimed it for 2014 and 2016.
Unless altered by tax reform legislative process, for 2017, the alternative minimum tax exemption amounts are: (1) $84,500 for married individuals filing jointly and for surviving spouses; (2) $54,300 for unmarried individuals other than surviving spouses; and (3) $42,250 for married individuals filing a separate return. Also, for 2017, nonrefundable personal credits can offset an individual's regular and alternative minimum tax, and capital gains will be taxed at lower favorable rates for AMT. For 2017, the amount of AMTI above which the 28% rate applies is $93,900 for married taxpayers filing separate returns and $187,800 for married individuals filing joint returns, single taxpayers (other than surviving spouses), and estates and trusts.
FBAR: U.S. persons holding any financial interest in, or signature or other authority over, a foreign financial account exceeding $10,000 at any time in a calendar year must file a Report of Foreign Bank and Financial Accounts (FBAR) with the Treasury Department. The due date for 2017 is the same as the U.S. tax filing deadline of April 15, 2018 (unless extended by a weekend or holiday), with an automatic six-month extension to October 15 if the original due date is not met.
For 2017, the estate and gift tax exclusion is $5.49 million. Any of the exclusion amount used for lifetime gifts reduces the amount remaining for estate tax purposes. Any unused portion of the estate tax exemption for the first spouse to die can be used by the second spouse. Or the unused exemption is “portable” to second to die spouse. An estate tax return must be filed by the first spouse in order to claim the unused portion of estate tax exemption. Therefore, a taxpayer and spouse who own jointly less than $10.98 million in assets will generally not have a taxable estate. Planning is always recommended in order to fully avoid any unnecessary taxes.
KANSAS INCOME TAX CHANGES:
The legislature passed 2017 SB 30 which repealed the exemption for certain non-wage business income reported by pass-through entities and sole proprietorships on federal schedules C, E, and F by eliminating the add-back of certain business losses and subtraction modifications for specified business profits that the taxpayer reported for federal income tax purposes.
Taxpayers will see the elimination of net operating loss addition modification for individual, partnership, s corporation, LLC and other pass-through entities. Taxpayers will start with federal adjusted gross income. There will no longer be a carry-forward or carry-back of the NOL.
-Note: No taxpayer shall be assessed penalties and interest from the underpayment of taxes due to changes in SB30 that became law on July 1, 2017 so long as such underpayment is rectified on or before April 17, 2018.
-Tax rates change from two brackets to three.
Married Filing Jointly Single, HOH, Married Filing Separate
$0 - $ 30,000 2.90% $0 - $ 15000 2.90%
$30,001 - $ 60,000 4.90% $15,001 - $ 30,000 4.90%
$60,001 and over 5.20% $60,001 and over 5.20%
-Standard deductions for married filing joint remains at $7,500 and for heads of household at $5,500. The single taxpayer standard deduction remains the same at $3,000.
-Wagering losses are excluded from itemized deductions.
-Kansas allows the following as itemized deductions:
- 100% of Qualified Charitable Contributions.
- 50% of Qualified Residence Interest
- 50% of the amount of taxes on Real and Personal Property
-Effective for tax year 2017 new check-off donation on Kansas income tax return for Local School District Contribution Program. The taxpayer may donate to the local school district of their choice.
- There are some other provisions but the above cover the major changes impacts of Kansas SB30.
If you have any questions, please do not hesitate to call. We would be happy to meet with you at your convenience to discuss the strategies outlined above.
D. McMillen, Chartered
Devin D.McMillen, CPA
Doug M.Volkland, CPA
Curtis W.Kuhn
Betty L. Weis
Loretta Brittain, CPA
Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (I) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein
Fax: (620) 792-6728
info@McMillenChtd.com