President Biden's administration has given us the first look at tax proposals for the fiscal year 2022 budget. There are quite a few changes listed and most of them as you might expect are increases targeted to high-income taxpayers. Here is a summary of some provisions that may affect … [Read more...] about The Administration’s Tax Proposals for the Next Fiscal Year
529 PLANS AND WHAT YOU SHOULD KNOW
If you have children or plan to have children in the future, you are aware that costs of education are expensive and continue to increase. Many people save for higher educational expenses by utilizing a custodial account or even a trust. Another great option for saving for your child or … [Read more...] about 529 PLANS AND WHAT YOU SHOULD KNOW
YEAR END INCOME TAX AND ESTATE PLANNING RECOMMENDATIONS
This year has been unlike any other with a pandemic and with it many new pieces of legislation that affect your income taxes and estate planning. We will give an overview of important items you should consider. We believe that income and estate taxes will go up for many under a Biden … [Read more...] about YEAR END INCOME TAX AND ESTATE PLANNING RECOMMENDATIONS
2020 tax law changes Illinois nonprofits need to know
Congress passed many tax law changes in 2020 to help cope with the pandemic. While some of these expire at the end of 2020 you need to know them to help to help your donors make year-end decisions. The summary is in a PowerPoint presentation that you can find at the link below. It was part of a … [Read more...] about 2020 tax law changes Illinois nonprofits need to know
DO YOU HAVE SOCIAL MEDIA ACCOUNTS? INCLUDE THEM IN YOUR ESTATE PLAN!
In today’s technologically driven world, most people have at least one email account, online banking account, and social media account. These are just some examples of a digital asset. A digital asset is anything stored on computers, cellphones, or in a cloud-based storage system. The actual … [Read more...] about DO YOU HAVE SOCIAL MEDIA ACCOUNTS? INCLUDE THEM IN YOUR ESTATE PLAN!
