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It’s Important to Understand How Taxes Factor into M&A Transactions

September 28, 2023

Buying or selling a business? It may be the most important transaction you ever make. So it’s important to seek professional tax advice as you negotiate. Don’t wait until a deal is done!

Update for Illinois Employers: Paid Leave for All Workers Act

September 27, 2023

There is an update to the new Paid Leave for All Workers Act for Illinois employers. The act takes effect on January 1, 2024.

IRS Suspends Processing of ERTC Claims

September 26, 2023

With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end.

Investment Swings: What’s the Tax Impact?

September 21, 2023

If you've had some significant gains and losses with your investments this year, you may need to know how to avoid any tax surprises. Here's what you need to know before year end.

The IRS is Reminding Those Who Make Estimated Tax Payments That Their Third Quarter Deadline was Sept. 15th

September 19, 2023

Self-employed people, gig workers, retirees, and others who make estimated tax payments should be making them if they expect to owe at least $1,000 in 2023.

Financial Statements at a Glance

September 14, 2023

Can you name the three reports that make up a comprehensive set of financial statements under U.S. GAAP? To get a holistic assessment of your organization’s performance, it’s important to look beyond profits.

Plan Now for Year-end Gifts with the Gift Tax Annual Exclusion

September 12, 2023

The estate and gift tax exemption amount is scheduled to be cut drastically in 2026 when the related Tax Cuts and Jobs Act provisions expire (unless Congress acts to extend them). Making tax-free gifts before then can cut the size of your taxable estate and may be one way to address this potential threat.

IRS Issues Guidance on New Retirement Catch-up Contribution Rules

September 11, 2023

The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and employees alike. The IRS has now provided guidance.

Selling Your Home for a Big Profit? Here Are the Tax rules

September 7, 2023

If you’re selling your principal residence, or you already sold your home in 2023, some or all of the profit may be tax-free. It depends on the amount of profit and your income. Take a look at the basic rules.

New Report Identifies High-risk Areas in Financial Reporting

September 5, 2023

Which areas of your organization’s financial statements pose the greatest risk of material misstatement? Here’s a recent report that may help identify high-risk accounts and transactions.

Overhead Allocations: Rising Costs Require a Fresh, Disciplined Mindset

August 31, 2023

Here’s how to get control of your overhead allocations and make better-informed pricing decisions in today’s volatile marketplace.

Guaranteeing a Loan to Your Corporation? There May Be Tax Implications

August 29, 2023

If your corporation defaults on a loan that you guarantee, there may be tax consequences. You don’t want to be caught unaware.

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