The New Illinois Tax Hike
From the Desk of Michael T. McCormick The New Illinois Tax Hike Illinois budget legislation has been enacted over Gov. Bruce Rauner’s veto that increases corporate and personal income tax [...]
The Often-Overlooked Home Office Business Deduction
From the Desk of Lauran L. Stevenson The Often-Overlooked Home Office Business Deduction As part of National Small Business Week (April 30-May 6), the IRS highlighted a series of tips [...]
President Trump’s New Tax Proposal
From the Desk of Michael T. McCormick President Trump’s New Tax Proposal President Trump outlined his new tax proposal on Wednesday that the Administration intends to submit to Congress. “Today [...]
Tax Planning for the Donald Trump Presidency
From the Desk of Michael T. McCormick Tax Planning for the Donald Trump Presidency After a heated presidential election, the time is now to look forward and see what changes [...]
It’s a Write-off, Right? Business Deduction Requirements and Rules, Part 2
From the Desk of Lauran Corcoran It’s a Write-off, Right? Business Deduction Requirements and Rules, Part 2 As discussed previously, a business expense is valid deduction against business income when [...]