Oct 14, 2026 | Chicago CPA
This is the third in my series of tax updates to get my clients ready for their December Tax Planning Sessions. It should be noted that there are still new tax laws in the pipeline waiting to be signed into law that may affect returns this year. As such, this...
Oct 13, 2026 | Chicago CPA
Most Entrepreneurs don’t know that when their pass-through entity pays for the health Insurance for them and their families through a group medical policy, that the cost of the insurance is not deductible on the business return. The insurance expense passes...
Oct 9, 2026 | Chicago CPA
One of the major ways that Business Owners can save tax dollars this year is by using Pass Through Entity Tax Credits (PTETC). In order to explain how this works, let’s use an example. Joanne B. Owner owns a profitable S Corp. She takes a $100K W-2, has another...
Oct 7, 2026 | Chicago CPA
As we get closer to tax season, I’m going to begin my process of educating everyone before our upcoming tax planning sessions in December. Tax planning success isn’t just about doing the right thing. Sometimes it’s about not doing the wrong thing....
Oct 7, 2026 | Chicago CPA
The Treasury Department has proposed requiring U.S. taxpayers to disclose their citizenship and work authorization status to the IRS on the annual tax form that nearly all workers file each year. I forward this because the published “draft” 1040 almost...
Oct 6, 2026 | Chicago CPA
The Senate passed the Taxpayer Assistance and Service Act (TAS Act, H.R. 5349) shortly before leaving Washington for a congressional recess that extends through the November midterm elections. Several provisions in TAS are similar to, or identical to, standalone tax...
