How to use the pass-through entity tax in Wisconsin or Illinois
The Tax Cut and Jobs Act of 2017 had many long-ranging implications, but perhaps none more significant than its effect on itemized deductions and how...
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S-corp, Partnership, or C-corp: Which is right for your small business growth?
According to the Bureau of Economic Analysis, S corporations account for 76.8% of corporations with less than 500 employees and 37.3% of corporations...
7 Auto Repair Shop Tax Deductions to Save Money
Did you know that most businesses lose out on a significant amount of money each year by neglecting to take advantage of tax deductions? In fact, you...
Augusta Rule: How to Master this Tax Loophole
The Masters Tournament, held in Augusta, Georgia, is one of the most prestigious PGA golf tournaments. It’s so widely attended that people will rent...
Employee vs. Contractor: Avoid Costly Misclassification for Your Business
Misclassifying workers as independent contractors instead of employees can put your business in hot water. Think heavy fines, back...
IRS Estimates the Tax Gap Totals Hundreds of $$BILLIONS
If you are a small business owner, and you have never experienced an IRS audit, consider yourself fortunate. Be aware though, the...
Millions of Backlogged Tax Returns
If you are one of the many people wondering what happened to the refund you expected from your 2019 federal tax return, you are not...
Employer Tax Credit for Paid Family and Medical Leave
As a small business owner, there’s a lot to manage and frankly, it can be daunting. The Family and Medical Leave Act (FMLA) and all...
Illinois Secure Choice Savings Program
ILLINOIS BUSINESS OWNERS A retirement savings program is mandatory as of November 2019. You have options, and we can help....
Sales Tax Responsibilities Have Undergone a Seismic Shift Recently
Sales tax responsibilities have undergone a seismic shift recently due to the landmark court case known as the Wayfair case. This case...
Do You Have More Credit Card Debt than Emergency Savings?
Putting away money for a rainy day and spending within your means makes great sense. Any financial planner, child of the...
IL & WI Will Require Sales Tax Collection by Internet Sellers
Illinois and Wisconsin, along with 28 other states are acting to pass laws or regulations to require sales tax collection by remote sellers now or in...