National Estate Planning Awareness week was adopted in 2008 by the House of Representatives to help the public understand the importance of estate planning. In honor of National Estate Planning Week, we wanted to highlight a...more
The Consolidated Appropriations Act, 2023 (“Appropriations Act”) was signed by President Biden and became law on December 29, 2022. Included in the Appropriations Act is the SECURE 2.0 Act of 2022 (“Secure Act”), which...more
The IRS has proposed regulations interpreting significant changes made by the SECURE (Setting Every Community Up for Retirement Enhancement) Act to how inherited IRAs and other retirement accounts can be treated by their...more
The tax plan released last month by the Democratic-led House Ways and Means Committee would bring about extensive changes in the taxation of businesses and high-income individuals.
Proposals Affecting Businesses -
Key...more
10/8/2021
/ Business Taxes ,
Corporate Taxes ,
Federal Taxes ,
High Net-Worth ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Proposed Legislation ,
Retirement Plan ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Tax Rates
As we discussed in a previous article, the renewable energy industry is experiencing record growth. President Biden’s current initiatives are also expected to provide an additional boost to accelerate future growth in clean...more
7/26/2021
/ Construction Industry ,
Construction Project ,
Energy Projects ,
Energy Sector ,
Investment Tax Credits ,
IRS ,
Production Tax Credit ,
Renewable Energy ,
Safe Harbors ,
Tax Credits ,
Tax Planning ,
Tax Relief
Illinois lawmakers have approved legislation that is both good news and bad news for Illinois taxpayers. The good news is that, if approved by Gov. Pritzker, Illinois taxpayers will be able to take advantage of a workaround...more
6/11/2021
/ Bonus Depreciation ,
Corporate Taxes ,
Dividends ,
Federal Taxes ,
Franchise Taxes ,
GILTI tax ,
Governor Pritzker ,
Income Taxes ,
Local Taxes ,
Net Operating Losses ,
Partnerships ,
Pass-Through Entities ,
S-Corporation ,
SALT ,
State and Local Government ,
State Taxes ,
Tax Benefits ,
Tax Deductions ,
Tax Planning
The stimulus package passed last month may help certain Electing Real Property Businesses by including a provision that allows a shorter depreciation period for residential rental property acquired prior to January 1,...more