The Idea Exchange - Chicago CPA Firm

TIE
(The.Idea.Exchange) Blog

GOP’s proposed tax reform plan highlights

In late September, 2017, U.S. Senate Republicans declined to vote on the Graham-Cassidy health care bill because there weren’t enough votes to pass it. On September 27, 2017, President Trump and Republican congressional leaders turned their attention to tax reform…

Read More »
Posted in Tax Legislation  |  Leave a comment

The Equifax Data Breach: What to Do

If you have a credit report, there’s a good chance that you’re one of the 143 million American consumers whose sensitive personal information was exposed in a data breach at Equifax, one of the nation’s three major credit reporting agencies.…

Read More »
Posted in General  |  Leave a comment

Partnerships: Get ready for new audit rules

For partnerships, including limited liability companies taxed as partnerships, new audit rules are a game changer. The rules apply to returns for partnership tax years that begin after December 31, 2017, including amended returns. The changes aren’t merely procedural; they…

Read More »
Posted in Tax  |  Leave a comment

What really motivates nonprofit donors

What do charitable donors want? The classic answer is: Go ask each one individually. However, research provides some insight into donor motivation that can help your not-for-profit grow its financial support. Taxing matters The biennial U.S. Trust® Study of High…

Read More »
Posted in Not-for-Profit  |  Leave a comment

Obamacare IRS Employer Reporting: File or Risk Penalties

Employers with 50 or more full-time employees (including full-time equivalent employees) that are required to offer health insurance coverage and report enrollment information for their employees under the Affordable Care Act (ACA), file Internal Revenue Service (IRS) Forms 1094 and…

Read More »
Posted in Tax  |  Leave a comment