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Build Back Better Act: Proposed Retirement Changes

Since earlier this year the Biden administration has been focused on passing several pieces of comprehensive legislation designed to address the COVID-19 crisis while accelera ... Read more

New Illinois Law Trims Small Business Taxes with SALT Deduction

On August 27, 2021, Illinois Governor Pritzker signed into law Senate Bill 2531, which provides small businesses a work around to the $10,000 cap placed on their state and lo ... Read more

Considerations for Nonprofit Startups

While in many ways similar to for-profit corporations, nonprofit organizations are bound by legal, tax, and accounting laws that are unique to them and them alone. As they nav ... Read more

Illinois Back to Business (B2B) Grant Program

As part of the federally funded American Recovery Plan Act (ARPA), the Illinois Department of Commerce and Economic Opportunity is offering an economic stimulus program—Back ... Read more

Report Looks at Fraud Occurring at Government Entities

The harsh reality is that fraud is an ever-present threat that can drain funds needed to provide services, programs, and maintain the functions and responsibilities of governm ... Read more

Highlights from Treasury Inspector General’s Audit Report for 2021 Tax Filing Season

The Treasury Inspector General for Tax Administration (TIGTA) issued the Interim Results of the 2021 Tax Filing Season (issued May 6, 2021). The purpose of the audit was to pr ... Read more

Understanding Business Meal and Entertainment Deduction Rules

Does your business provide meals and entertainment for employees, clients/customers, or partnership representatives? How the IRS allows businesses to handle meal and entertain ... Read more

Manufacturing Executive Orders Pave the Way for Domestic Production

Early in President Biden’s administration, he signed several executive orders aimed at strengthening manufacturing in Chicago and across the United States. Some of those wer ... Read more