Bringing Back the 1099-NEC Form in 2020
New year, new tax forms. This year the IRS has brought back the 1099-NEC [...]
2020 Tax Plan – New Forms, Maximizing Deductions, & More
As the coronavirus pandemic has taken center stage in challenging all businesses, it is [...]
2020 Year End Tax Planning
As 2020 comes to an end (finally!), we encourage our individual and business clients [...]
PPP Forgiveness – Apply Now or Wait?
On September 10, 2020, the US Senate voted on an additional bill for coronavirus relief. It failed to pass the Senate.
Social Security Tax Deferral for Certain Employees – Is it Worth the Risk to Employers?
On August 8, 2020, President Trump signed an executive memorandum to stop withholding Social Security tax from certain worker paychecks and
Midyear Planning & The Tax Cuts and Jobs Act
As we reach the midpoint of 2018, it is an ideal time to review your finances as they relate to our newest tax laws. Although we tend to lo
Long-Awaited Paycheck Protection Program Loan Forgiveness Guidance Released
The Department of Treasury issued the long-awaited guidance on requirements for Paycheck Protection Program loan forgiveness.
How is PPP Loan Forgiveness Calculated? A Guide to Maximizing PPP Loan Forgiveness
A guide to maximizing PPP Loan Forgiveness.
Things to Consider with the Updated Tax Filing Deadlines
On March 25, 2020, the Illinois Department of Revenue issued official guidance extending the filing and payment deadline for 2019 Illinoi...
Updated Federal Tax Filing Due Date
The IRS, through executive order by the President, has extended the federal income tax filing deadline to July 15, 2020. This comes only ...
IRS Tax Payment Relief Guidelines
An outline of the recently released guidelines for March 2020 Taxpayer Relief.
Virtual Currency & Your Taxes
The IRS has been focusing on virtual currency.