Welcome to LM Tax & Financial
We provide solutions to many of the challenges that you face when it comes to money.
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1040 Solution of the Week
Don’t miss out on your telephone tax refund
May 16th, 2012
If you never claimed your telephone tax credit on your 2006 tax return, you have until July 27, 2012 to file a refund claim. The telephone tax refund is a one time reimbursement of federal excise taxes that were assessed to long distance and bundled telephone service plans. The standard credit amount can be anywhere from $30-$60 or if you have your old phone bills from way back in March 2003 up to the time the IRS stopped collecting the tax in August 2006, you may have a refund greater than $60. Originally the credit only applied to the 2006 tax year but thanks to a court ruling the IRS is giving extra time to file a refund claim so don’t miss out again.
What we doLM Tax & Financial is a fee-only financial planning and tax preparation company based in Champaign, IL. We provide comprehensive advisory services that consider all the areas of your financial life. We're fee-only because we only get paid by you, the client, and not by selling products. We provide a game plan for a successful and fulfilling financial life through periodic meetings and collaborations throughout the year. |
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Do you have a plan?
Game plan for Income Taxes
"Nobody wants less income. Everybody wants less taxable income."
- Prepare and file your individual income tax returns
- Monitor your current year tax obligation and update for changes
- Give you a preview of what to expect in April
- Tax reduction strategies
- Recordkeeping training and coaching
- Audit representation
Game plan for Investing
"Money is fragile, Handle With Care."
- Analyze your portfolio
- Assess your risk tolerance
- Recommend and monitor asset allocation strategies
- Recommend cost and tax efficient investment options
Game plan for Your Future
"A dream plus a plan equals happiness."
- Identify your goals
- Show you how to focus on the S.M.A.R.T goals
Game plan for your Protection
"Protect your blind side and keep your eyes on your prize."
- Identify liability exposure
- Assess insurance needs
- Recommend cost effective protection for
- Your loved ones (life insurance)
- Your income (disability insurance)
- Your well being (health insurance)
- Your assets (auto, home, liability insurance)
Game plan for your Legacy
"You can't take it with you but you can decide where it goes."
- Assist with process of creating estate plan documents such as wills, power of attorney's, trusts (if applicable)
- Assist with process of re-titling assets, updating beneficiaries
Game plan for your Freedom
"I want to earn money because I like to, not because I have to."
- Assess retirement needs based on current standard of living
- Analyze employee sponsored and self employed retirement plans
- Identify potential sources of retirement income
- Recommend strategies to close the gap
- Cashflow analysis to identify saving opportunities
Game plan for the next generation
- Review of various education funding options and how to use them
Mission Statement
To empower people to make more informed decisions with their money.
Who is LM Tax & Financial
LaKhaun McKinley, CFP is the Principal Owner of LM Tax & Financial.
LaKhaun is a graduate of Eastern Michigan University in Ypsilanti, MI with a BBA in Accounting. LaKhaun is certified as a financial planner by the Certified Financial Planner Board of Standards as well as an Enrolled Agent with the privilege to represent taxpayers before the Internal Revenue Service. LaKhaun has been a tax preparer for over 15 years and began a career in the financial planning industry in 1997.
A member of National Association of Tax Professionals, National Association of Personal Financial Advisors and a proponent of Fee Only financial planning.
Contact LM Tax & Financial
Call or email to receive additional information or schedule an appointment. The cost of your initial meeting is invaluable, your time and nothing else.
824 Chickory Dr
PO Box 8151
Champaign, IL 61826
217-903-5497
lm.txfn@comcast.net
Privacy
LM Tax & Financial is committed to protecting your confidential information. We do not sell, distribute or in any other way make your personal information available to unauthorized parties. For more information, see the LM Tax & Financial Privacy Statement
Disclaimer
The presence of this web site on the Internet shall in no direct or indirect way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any state other than the state of Illinois and any state where LM Tax & Financial is properly registered or otherwise legally permitted to conduct business by virtue of state de minimums exemption rules.