President Donald Trump signed into law a sweeping reconciliation tax bill, commonly known as the “One Big Beautiful Bill Act”…
My CPA says, ‘extend.’What does that mean to me?
*The federal filing deadline for 2024 individual returns will be April 15, 2025. The extension deadline for those returns is…
Do You Need a Trust?
CPAs often emphasize the tax benefits of trusts. Trusts can help minimize estate taxes and, in some cases, income taxes….
Illinois Sales and Use Tax on Leased Tangible Personal Property
The Illinois Sales and Use Tax on leased tangible personal property, effective January 1, 2025, introduces new requirements for lessors…
263A: Navigating Simplified Methods and UNICAP Compliance
What is UNICAP? This is a continuation of my last article What is UNICAP? Section 263A Explained. 263A (also…
House Republicans Float Long List of Potential Tax Measures
Republicans in the U.S. House of Representatives Budget Committee recently circulated a draft list of policy options, some of which…
