Jan 14, 2025 | Chicago CPA
The Republicans won a five seat majority in the House and a similar majority in the Senate. The battle lines are being drawn as both sides begin their legislative agenda. The SALT Limitation The limitation of only being able to deduct $10K in State and Local Taxes...
Jan 12, 2025 | Chicago CPA
Michael Abramson, an Attorney from Wilmette, Illinois, has been convicted of tax fraud, attempting to tamper with a witness, and violating a court order. Abramson filed false individual returns for himself and corporate returns for a company in which he held an...
Jan 9, 2025 | Chicago CPA
Erin Collins, the National Taxpayer Advocate, released her annual report to Congress last Wednesday. The highlights of the report include… 1 – Taxpayers and practitioners are supposedly receiving better service. Wait times to reach a customer service...
Jan 6, 2025 | Chicago CPA
The recent surge in Bitcoin prices has been a financial boon to its investors. Many have been cashing out with gains exceeding their wildest expectations. Bitcoins were trading in the $97K range yesterday. If you had invested in this asset four short years ago, your...
Jan 6, 2025 | Chicago CPA
The residents of nine states are getting an income tax cut beginning this year. Three of those states share a border with Illinois. These changes are part of the continuing push since the Covid Era when states found themselves flush with Federal Pandemic Funds....
