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2023 Tax Considerations
(Date posted: November 9, 2023)
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- Individual Income Tax Provisions
- Education
- Trust and Estate Income Tax
- Estate, Gift and Generation-Skipping Transfer Taxes
- Pension and IRA Provisions
- Business Provisions
- Sole Proprietorships, S Corporations & Partnerships Tax Changes
- Inflation Reduction Act of 2022
- Analysis of Key Tax Provisions in Secure 2.0
- Analysis of Key Retirement Provisions in Secure 2.0
- Illinois Makes Changes Affecting Various Taxes
- Things to Consider Before the End of 2023
- 2023 Tax Rate Schedule
- 2024 Tax Rate Schedule
Closing a business involves a number of tax responsibilities
(Date posted: July 26, 2024)
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities. Continue reading
How are Series EE savings bonds taxed?
(Date posted: July 25, 2024)
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as “Patriot Bonds” as a way for Americans “to express support for our nation’s anti-terrorism efforts,” according to the U.S. Treasury Department.
Perhaps you purchased some Series EE bonds many years ago and put them in a file cabinet or safe deposit box. Or maybe you bought them electronically and don’t think about them often. You may wonder: How is the interest you earn on EE bonds taxed? And if they reach final maturity, what steps do you need to take to ensure there’s no loss of interest or unanticipated tax consequences?
If your business has co-owners, you probably need a buy-sell agreement
(Date posted: July 18, 2024)
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things:
Six tax issues to consider if you’re getting divorced
(Date posted: July 16, 2024)
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six issues to be aware of if you’re in the process of getting a divorce.
