Matter & Substance

Thoughts from our industry
to help Businesses and Individuals

September 14, 2021

Preparing to Hand Off Your Business

Years of hard work have paid off, and you have built a business that stands the test of time. There comes a bittersweet moment when you pause to celebrate the empire you have built, but also start planning for...

September 9, 2021

Workaround for IL Tax Deduction Limit

Exciting Illinois tax news: A bill that could save small businesses in Illinois significant money, is now on the books! The law will allow owners of partnerships, LLCs, and S-corporations to avoid the $10,000 cap on the state and...

September 7, 2021

Budgeting in Today’s Climate (Inflation and Taxes and Credits, oh my!)

This year, we are learning to navigate a changing environment full of surprises and challenges – especially when it comes to running your business. As the saying goes, we are not in Kansas anymore. How do you budget for...

August 24, 2021

10 Myths of the Employee Retention Credit

The Employee Retention Credit was part of the CARES Act designed to encourage businesses to retain employees. The credit is fully refundable against payroll taxes for those businesses “significantly impacted by COVID-19.” Previously there were several limitations based on...

July 27, 2021

Succession Planning 101

You have spent years building, managing and operating your business. Yet, owners often forget one very important task: succession planning. Whatever your long-term goals may be, it is vital to begin planning well ahead of your target retirement, since...

June 29, 2021

Part 2: Tax Considerations of Operating Your Business

Yesterday, we explored your options for entity choice in forming your family business and the general tax issues of each structure. Today, we will dig into each of these a little deeper and explore the applicable accounting and tax...

June 28, 2021

Part 1: Tax Considerations of Forming Your Business

Maybe you are considering starting a family business or preparing to transfer one you started to the next generation. You may also be learning to manage a business your great-great-grandfather started long before you were born. Whatever the case,...

June 16, 2021

Importance of Cybersecurity for Small Businesses

As a small business owner, you may assume it is unlikely you would be a cybercriminal target, thinking they would target larger organizations. Unfortunately, that way of thinking is inaccurate and small businesses are just as (if not more)...

June 15, 2021

Can your estate plan keep up with proposed legislation?

Welcome to Part 2 of our series evaluating the possible impact proposed legislation may have on your tax situation. Today we are going to explore the potential impact on estate and gift planning. Proposals under review with Congress...

June 8, 2021

Legislation is coming. Are you ready?

Welcome to Part 1 of our series looking at the results potential legislation and Biden’s proposals may have on your tax situation. Today we are going to explore the potential impact to individuals and businesses. Stay tuned for an...

May 27, 2021

Understanding Wayfair

Wayfair may bring to mind peppy commercials filled with bright throw pillows. But, it is also a complex and changing tax topic, relevant to nearly all businesses today. A little legal background In 1992, the U.S. Supreme...

March 19, 2020

Keep in touch with former employees through an alumni network

For many employers, the struggle to find and hire good workers is real. So real, in fact, that some employers aren’t looking only at new faces, they’re keeping in touch with familiar ones as well. Sure, you could add...

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Matter & Substance

Thoughts from our industry to help Businesses and Individuals

Thoughts from our industry
to help Businesses and Individuals