Nov 3, 2025 | Chicago CPA
The One Big Beautiful Bill Act (OBBBA) allows the seller of a qualifying small business to not pay Capital Gains Tax on the first $15M in qualifying gains. If you’re a C Corporation Owner and meet the Qualified Small Business Stock (QSBS) requirements, OBBBA...
Oct 29, 2025 | Chicago CPA
The One Big Beautiful Bill Act (OBBBA) allows the seller of a qualifying small business to not pay Capital Gains Tax on the first $15M in qualifying gains. This new law can provide millions in tax savings to entrepreneurs. If you’re a C Corp Owner and meet the...
Oct 27, 2025 | Chicago CPA
Buried inside the almost 1,000 page One Big Beautiful Bill Act (OBBBA) is a section that reverts the reporting requirements on Form 1099K back to their pre-American Families Rescue Act Level. The 1099K is a form issued by credit card companies and online retail...
Oct 21, 2025 | Chicago CPA
The Wall Street Journal is reporting that the new administration has begun the process of weaponizing the Internal Revenue Service to go after left-leaning groups that oppose the new federal agenda. The process aims to install allies of the administration in the...
Oct 15, 2025 | Chicago CPA
Today, October 15th, is the last day to file a tax return that’s on extension from April 15th of this year without facing an additional penalty. If your extended return is not filed by midnight tonight, the Failure to File Penalty will be assessed. Your return...
