Potential tax law changes and year-end tax planning for individuals As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning,...
2021 year-end tax planning for individuals
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2021 business year-end tax planning
Businesses must navigate 2021 year-end tax planning with new tax laws potentially on the horizon The end of the tax year is fast approaching for many businesses, but their ability...
Important Employee Retention Credit Changes
Employee Retention Credit Early Termination The employee retention credit will be terminated early and broker reporting of cryptoasset transfers will be required as a result of legislation...
Build Back Better Act proposed tax changes
Debate continues in Congress over proposed tax changes Negotiations continue in Washington, D.C., over the future of President Biden’s agenda and tax law changes may be ahead under the...
PPP loan forgiveness update
74% of Total PPP Loan Dollar Amount has Applied for Forgiveness Since the Paycheck Protection Program’s starting date on April 3rd, 2020, the SBA has aided millions of small businesses...
Update: COVID Economic Injury Disaster Loan Program
The rapid spread of the Delta variant of COVID-19 has mired a variety of companies in diminished revenue and serious staffing shortages. In response, the Small Business Administration...
Update on Proposed Tax Law Changes
On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process....
Back to Business Grant Program Overview
As part of Governor JB Pritzker’s overall economic recovery strategy, the $250 million Back to Business (B2B) grant program aims to deploy small businesses recovery grants for those hit...
New ERC guidance; Congress mulls early termination
The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19...