Many questions arise when it comes to record keeping so we’ll cover some basic guidelines that should help you better understand when to keep it and when to trash it. Keeping records far past the necessary time-frame can cost unnecessary time and money, and in some cases can expose your business to litigation. However, understanding […]
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Record Keeping How-To for Individuals
How many shoe boxes full of receipts do you have? How many year’s worth are up in that closet, or would you rather not think about it? The question for many people about record retention, for themselves or for the family, is how long do I possibly need to save all that stuff? One year? […]
Senior Tax Credit for the Elderly or Disabled
We’d all like less taxes to pay, so we try to take advantage of all the deductions and credits that we can. But our lives change, and the tax code changes, and it’s sometimes difficult to determine if we’re really on top of our tax-game. This post will focus on the tax credit for the […]
How to File a Tax Extension for Businesses and Individuals
Updated April 2018 Sometimes we aren’t quite as prepared for tax time as we’d like to be! Which is why knowing how to file a tax extension comes in handy. Tax payments however, except in a few special cases, cannot be granted a time extension and the due date is April 18 (for individuals) to […]
Understanding State Tax Law for Individuals in Illinois
Each state has slightly different tax laws for individuals, so we will cover some of the most important basics of Illinois state tax law here to give you a better understanding of your tax return, and tax savings you might be missing out on! Side note: your tax refund may take a little longer to […]
Understanding State Tax Law For Businesses: Illinois
As we all are aware, each state differs in the way they handle taxes for businesses. In this post we will focus on Illinois tax law, starting at a high level and working down to some key details which may spark some creative thinking for what you can do to decrease your business’s tax contribution. […]
