Author Archives: Patrick T. Ryan CFP®

Patrick T. Ryan CFP®

About Patrick T. Ryan CFP®

By bringing a practical approach to problem solving, Patrick T. Ryan helps his clients move forward with their lives by addressing the complex, emotional and often difficult situations that arise in divorce cases. As a CERTIFIED FINANCIAL PLANNER™ Professional, Mr. Ryan helps clients to understand their current personal financial situation and plan for their financial future. He combines this with his sound understanding of Illinois law to create a practical approach that enables his clients to achieve the best possible results. Mr. Ryan is equally skilled in the arts of negotiation and litigation and understands the importance of preparation in both approaches. While he believes that great outcomes can be achieved through settlement, Mr. Ryan also understands that litigation is sometimes necessary to achieve the optimum results for his clients and does not shy away from the courtroom.

The House Passes Their Tax Reform Bill While The Senate Finance Committee Approves an Amended Version of Their Initial Proposal

On Thursday, November 16, 2017, the House passed their Tax Bill with a vote of 227-205.  Thirteen Republican members (eight from New York and New Jersey), along with every single Democrat member, voted “No” on the bill.  Regardless of its passing, however, the bill still faces an uphill battle of aligning with what is emerging […]

New Tax Legislation

Yesterday, the GOP unveiled their proposed tax legislation, the “Tax Cuts and Jobs Act.” While this is just the initial proposal, as soon as next week, the House Ways and Means Committee (the principal tax writing committee of the House) will begin to propose changes and modifications, before sending it to the floor for a […]

Legalizing Recreational Marijuana in Illinois

Attitudes toward recreational marijuana use are continuing to evolve, with the idea becoming more and more acceptable to more and more people.  In fact, the push to legalize marijuana on a recreational level continues in Illinois.  On Wednesday, March 22, 2017, two state lawmakers from the City of Chicago’s North Side, Rep. Kelly Cassidy and […]

A Major Blow to Obamacare? Depends on who you ask

In an odd twist, just hours apart, two Federal Appellate Courts came out with different answers to the same questions, regarding a provision of the Patient Protection and Affordable Care Act, (also known as the “ACA” or “Obamacare”). The two Courts addressed the issue of whether or not the IRS could offer tax credits to individuals […]

IRA, Roth IRA, MyRA, What’s a MyRA?

On January 28th, in his fifth State of the Union Address, President Obama announced the MyRA (rhymes with IRA). In his own words, “It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in.” While some additional details are […]

2014 Retirement Figures Released

Last week, the Internal Revenue Service (IRS) and the Social Security Administration (SSA) released 2014 figures that can impact your retirement planning. Here’s what they had to say: Social Security The withholding percentage will remain at 7.65% (Social Security or OASDI Portion will remain at 6.2% on earnings, up to the applicable maximum amount of […]

Illinois House Approves Gay Marriage Bill

On Tuesday afternoon, the Illinois House voted 61-54, narrowly surpassing the required 60 vote threshold, to approve gay marriage. The measure previously passed the Illinois Senate on Valentine’s Day. It has taken this long to secure enough votes in the House for the measure to pass. Technically, the bill is being sent back to the […]

U.S. Supreme Court Will Address Gay Marriage

As a follow up to my last blog post, on Friday December 7, 2012, the United States Supreme Court announced that it would hear, not one, but two gay marriage cases.  The first is Windsor v. United States 699 F.3d 169 (2012), which comes out of an October 2012 ruling from the Second Circuit Court […]

Supreme Court Still Quiet on Gay Marriage

There are presently 10 pending appeals potentially before the Supreme Court addressing the issue of same sex marriage.  8 of the 10 appeals directly challenge the controversial Defense of Marriage Act (DOMA) on equal protection grounds.  DOMA has already been declared unconstitutional by the 1st and 2nd Circuit Courts of Appeal, as well as by […]