On March 27, 2020, the CARES ACT (Coronavirus Aid, Relief and Economic Security) was enacted. The Act includes provisions to encourage immediate action by donors to Section 501(c)(3) charitable organizations. These provisions are for the 2020 tax year only. For donors who no longer itemize their deductions (for example, retirees who have moved into a…
We understand that there has been much media coverage of various government subsidies and concessions now available to small businesses to relieve the economic impacts of the COVID-19 crisis. To help you navigate what is available and whether it makes sense for your business to apply for any of these programs, we offer the following…
Let’s face it, most individuals panic when a letter from the IRS arrives in the mail. Take a deep breathe, splash your face with cold water, and be prepared to respond within 30 days.
Sassetti announces the promotions of Shawn Carter to Senior Manager, Korina Carrillo to Manager, and Johnathan Bollas to Senior. Each brings with them a unique skill set, and the firm is excited to enter a new chapter with these gifted individuals.
Due to the lapse in appropriations that began midnight December 22, 2018, the federal government is in its fifth week of a partial shutdown, which includes much of the Internal Revenue Service (IRS). Indeed, although the IRS is working with a skeleton staff of excepted employees, most employees are not working during the shutdown. While…
Sassetti is pleased to announce Dirk Ahlbeck and Susan Penno have been admitted as partners. They each have extensive experience advising both individual taxpayers and businesses, and have both been instrumental in our firm’s recent growth through their dedication and ingenuity.
Recently, Izabela Poludniak, a senior audit manager here at Sassetti LLC, put out a great blog post which delves deeply into the subject of how donors can be more conscious of where they direct their charitable dollars. I highly encourage you to go back and read her post. For part 2, I’d like to focus…
One of the first things I learned when I started my career in accounting is that numbers don’t lie. But they also don’t tell the whole story. In the case of a for-profit business, years of losses can speak to years of inefficiencies, OR years of research and innovation that will yield exponentially larger future…
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Oak Park Office
6611 North Avenue
Oak Park, IL 60302
1776 Legacy Circle
Naperville, IL 60563