What's New
The tax code and financial landscape are a maze of complexity. We provide timely updates to help you identify opportunities - including breaking tax news, business, financial, technology and personal strategies.
Current Developments
| Date | Item |
Full Article |
| 7/01/2011 | Mid-Year 2011 Tax Planning Alert. It's time to put your 2011 tax planning into high gear, or you may find yourself paying higher taxes than necessary. View the full-article for information on midyear tax review strategies to minimize your taxes for 2011 and beyond. | |
| 11/22/2010 | The Tax Relief Act of 2010. Legislation signed by President Obama on December 17, 2010, will give all taxpayers a two-year extension of 2010 tax rates plus a number of other tax breaks for both individuals and businesses. The law also extends unemployment benefits for an additional 13 months. |  |
| 11/22/2010 | Year-End 2010 Tax Planning Alert. One word sums up the current tax environment — uncertainty. With those in Washington debating how to deal with the coming sunset of the 2001 tax law, planning is difficult. But even when the rules are in a constant state of flux, there are actions you can take now to manage your tax bill. | |
| 11/1/2010 | No Better Time To Give: Taking Advantage of the 2010 Favorable Gift & GST Tax Environment | |
| 9/30/2010 | The Small Business Jobs Act of 2010. The recently enacted Small Business Jobs Act of 2010, provides a $30 billion fund to encourage community banks to lend to small businesses, and it includes $12 billion in tax cuts for businesses, paid for with various revenue raisers. | |
| 8/9/2010 |
Tax Planning Alert Midyear 2010. Mid-Year Tax
Planning is critical and this year's fluid tax environment makes it even more
challenging. Here's some information to help! | |
| 8/5/2010 | Rick Franklin, CPA, Partner,Warady & Davis LLP Featured in Crain's Chicago Business On Tips for Successful Networking. | |
| 7/12/2010 | Tax
Changes Affecting Small Businesses in the 2010 Health Care Reform Legislation.
An overview of the provisions in the new law with the biggest impact on
small business. | |
| 7/12/2010 | Important Business Changes in the HIRE Act. Payroll tax holiday and up-to-$1,000 credit for employers who hire unemployed workers. | |
| 4/2/2010 | Health Care Reform Legislation. On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act of 2010, the core piece of legislation that overhauls the health care system in this country. On March 30, the President signed the Health Care and Education Reconciliation Act of 2010, a shorter piece of legislation that amends several provisions in the Patient Protection Act. This article provides details of the legislation including a timeline and tax implications. | |
| 3/8/2010 | | |
| 3/4/2010 | The Hiring Incentives to Restore Employment (HIRE) Act. Congress left a lot of unfinished business at the end of its last session. As a result, it is currently working on a wide variety of legislation that could have a significant impact on your tax situation. The important issues are the "HIRE" jobs creation bill, health care reform, the estate tax, and the extension of various tax provisions that expired December 31, 2009. | |
| 1/26/2010 | President signs bill into law allowing 2010 Haitian relief contributions to be deducted on 2009 returns. On January 22, President Obama signed into law H.R. 4462, a bill that allows donors to accelerate the income tax benefits of charitable cash contributions for the relief of victims of the earthquake in Haiti. | |
| 12/10/2009 | Extended and liberalized homebuyer tax credit rules. H.R. 3548, the ''Worker, Homeownership, and Business Assistance Act of 2009'' extends and generally liberalizes the tax credit for first-time homebuyers, making it a much more flexible tax-saving tool. | |
| 12/1/2009 | Interesting Rollover Opportunity. After 2009, you will be able to roll over amounts in qualified employer sponsored retirement plan accounts, such as 401(k)s and profit sharing plans, and regular IRAs, into Roth IRAs, regardless of your adjusted gross income (AGI). Currently, individuals with more than $100,000 of adjusted gross income as specially modified are barred from making such rollovers. | |
| 10/28/2009 | Warady & Davis LLP Named One of the Top 50 Chicago Area Generation Y Employers. | |
| 2/17/2009 | American Recovery and Reinvestment Act. President Obama has signed the American Recovery and Reinvestment Act into law. Moving through Congress in less than four weeks, the $787 billion new law, which contains nearly $300 billion in tax relief, sets in motion a wave of direct spending and tax incentives intended to jump start the U.S. economy out of recession. |
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| 2/3/2009 | Business Experts Recommend Running Lean, Getting Back to Basics. "Regardless of whether your business is thriving or feeling the pinch, there are many valuable enterprise improvement techniques that can help anyone proactively position their business for today's challenging environment." |
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| 1/12/2009 | Be Prepared for Tax Changes in 2009. With President-elect Obama's inauguration on 1-20-2009 and his urging fast action on his proposed economic stimulus plan, change is on the horizon. |
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| 11/30/2008 | Year-End Tax Planning 2008: TheTime to Act is Now! |
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| 11/10/2008 | Illinois Income Tax Withholding By Pass-Through Entities: The New Rules. Important new IL Dept of Revenue information for S corporations, partnerships, LLCs taxed as partnerships and trusts. |
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| 10/3/2008 | The Emergency Economic Stabilization Act of 2008. This landmark legislation gives the Treasury $250 billion immediately, and requires the President to certify if an additional $100 billion is necessary. An additional $350 billion may be disbursed subject to Congressional approval. The Treasury Department is required to report on the use of the funds and progress made in addressing the crisis. An oversight board and a special inspector general will also be created to watch over the Treasury Department. In addition to the financial markets rescue plan, the Act also includes an AMT Patch, Extenders, Disaster Relief and more. | |
| 7/30/2008 | Housing and Economic Recovery Act of 2008 Enacted. President George W. Bush recently signed the sweeping Housing and Economic Recovery Act of 2008 (H.R. 3221 Housing Act of 2008) into law. The Housing Bill is designed to help homeowners avoid foreclosure, spur home buying and prop up struggling mortgage giants Fannie Mae and Freddie Mac. The bill takes several approaches to curing the ailing housing market. |
