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Key Considerations When Starting a Family Office

Are You Considering Starting a Family Office? If so, learn more about the key consideration to make when launching. Managing the financial, investment, accounting, reporting, ... Read more

Limited Accounting Staff: Time to Consider Outsourced Accounting

The COVID-19 pandemic created several new and unforeseen challenges for Chicago businesses. The combination of initial stay-at-home orders combined with forced business closur ... Read more

Business Opportunities Abound in Latest COVID-19 Relief Bill

Many Chicago businesses have been struggling for months to overcome the economic challenges created by the COVID-19 pandemic. The combination of modified operating rules and c ... Read more

IRS Officially Changes Tax Day for Individuals to May 17

UPDATE: Illinois Governor J.B. Pritzker has announced that the State has changed the state tax filing deadline to May 17 from April 15 to match the changed deadline for federa ... Read more

House Committee Issues Statement that April 15 Tax Day Now May 17 for 2021

The House Ways and Means Committee (the Chief tax-writing body in congress) has issued a statement that the tax filing deadline will be extended from April 15, 2021 to Monday, ... Read more

Individual Taxpayer Relief Under the American Rescue Plan Act of 2021

On March 10, 2021, Congress passed a final version of the $1.9 trillion relief bill entitled the American Rescue Plan (ARP), and President Biden signed the legislation this af ... Read more

Chicago Issues Guidance on Nexus for Remote Sellers

Nexus is a technical tax term referring to the connection between a seller and a state, or other local jurisdiction that requires the seller to collect and remit taxes. In mos ... Read more

Auto Dealerships: An Economic and Tax Outlook for 2021

With a new President and a democratic majority control of the U.S. House of Representatives, the Senate, and the Presidency, more initiatives are likely to get accomplished in ... Read more