Matter & Substance

Thoughts from our industry
to help Businesses and Individuals

September 6, 2022

Recent IRS Notice Provides Relief from 2019-2020 Late Filing Penalties

On August 24th, 2022, a notice released by the IRS indicated penalty relief to most people and businesses who filed certain 2019 or 2020 returns late. This notice also provides an opportunity to certain parties to avoid penalties if...

August 30, 2022

Mowery & Schoenfeld Welcomes Girl Scouts for Inaugural Business Badge Bash

On Tuesday, August 2nd, Mowery & Schoenfeld opened its doors to host the inaugural Women’s Leadership Forum & Girl Scout Business Badge Bash. The Business Badge Bash was an opportunity for over forty Cadette, Senior, and Ambassador Girl Scouts...

August 23, 2022

Ann Kidd Named 2022 Crain’s Chicago Business Notable Leader in Community Development

Lincolnshire, Ill. – Mowery & Schoenfeld, LLC is proud to announce Ann Kidd, Director of Marketing, was named one of the 2022 Crain’s Chicago Business Notable Leaders in Community Development. This award recognizes leaders who have made a difference...

August 18, 2022

Business Clients Can Benefit from the Inflation Reduction Act

On August 16, 2022, President Biden signed the Inflation Reduction Act. The effects of this bill are aimed at reducing some of the burden of inflation in the longer-term, supporting small businesses, and impacting climate change. Below is a...

August 11, 2022

Illinois Residents May Qualify for Tax Rebates

This fall, Illinois residents could see checks in the mail or deposits in their bank accounts thanks to Gov. JB Pritzker’s Illinois Family Relief Plan. Both Individual Income Tax Rebates and Property Tax Rebates are scheduled to begin Monday,...

August 9, 2022

How the Inflation Reduction Act Affects You

After weeks of negotiations, the Inflation Reduction Act (IRA) was passed in the Senate. The effects of this bill are aimed at reducing some of the burden of inflation in the longer-term. The bill hopes to achieve this with...

August 5, 2022

Reporting Partners’ Income on Tax Returns

If you are a partner in a business, you may have come across a situation that’s puzzling: in a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which...

July 27, 2022

Preparing for a Recession

Recessions—defined as two consecutive quarters of economic decline—are often caused by unexpected economic shifts. And in the past few years, we have had a lot of them: the global COVID-19 pandemic, the war in Ukraine, the Great Resignation, and...

July 12, 2022

Why an Outsourced CFO Partner Is Beneficial to Any Organization

Authored Content by Matt Schoenholtz, Client Accounting Services Partner In working with clients, I like to use the term “The ART of Accounting” to explain to them exactly why having an accounting partner is so important. If you are...

July 7, 2022

What Does a Bear Market Mean for Me?

You have all heard the terms “bull market” and “bear market.” These two states of the market are named as such because the attack patterns of these predators match the trends for which they represent: bulls attack upwards with...

June 28, 2022

Mowery & Schoenfeld, LLC Promotes Four New Partners to Leadership

JUNE 28th, 2022 — Mowery & Schoenfeld, LLC is pleased to announce the continued growth of both our Firm and its leadership with the promotions of Jed Ang, Nicole Lindley, and Brandon Potocki to Tax Partners and Tim Long...

June 14, 2022

Tax Breaks When Caring for an Elderly Relative

In the latest report by National Alliance for Caregiving, it was revealed family caregivers now encompass more than one in five Americans. As the demands for caregiving rise in the US, more burden has been falling on working family...

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Matter & Substance

Thoughts from our industry to help Businesses and Individuals

Thoughts from our industry
to help Businesses and Individuals