Tax Reform: Senate Bill vs House Bill

In the early hours of Saturday morning the Senate passed its version of tax reform. The House bill and the Senate bill will now go to conference committee to iron [...]

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 [...]

Form 1099 – Not to be Ignored

From the Desk of Lauran L. Stevenson Form 1099 – Not to be Ignored The difference between a 1099 and a W2 employee is how the monies and information on [...]

Corporate Formalities Matter for LLCs

From the Desk of Lauran L. Stevenson Corporate Formalities Matter for LLCs There is a lot of misconception regarding Limited Liability Companies (“LLCs”). One of the most dangerous misconceptions is [...]

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 [...]