In tough economic times, real estate owners and investors often work with their lenders to restructure mortgage debt. Lenders may be willing to reduce the interest rate, extend the repayment term...

If you or your business owns at least 10 percent of a foreign business enterprise (including certain foreign real estate), you may be required to file Form BE-10 with the U.S.

The Illinois General Assembly passed the Fiscal Year 2022 budget implementation bill, S.B. 2017, that intends to raise $650 million of new tax revenue based on changes to the computation of taxable income.

The IRS is once again delaying the requirement for a third party settlement organization ("TPSO") to issue a Form 1099-K to anyone who received more than $600 from the TPSO in third party payment network transactions.

As 2014 came to an end, restaurant businesses everywhere waited on several tax breaks that can be beneficial on their 2014 tax returns.

The IRS postponed deadlines to file various individual and business tax returns and make tax payments for taxpayers affected by Hurricane Idalia in Florida and in South Carolina.

The Tax Cuts and Jobs Act limited the ability of noncorporate taxpayers — such as sole proprietors, partnerships and S corporations — to offset business losses against income from other sources.

Will the recent federal tax overhaul hurt charitable giving? Two U.S. senators want an answer in hard facts.

A newly launched start-up, Wethos, matches not-for-profits of all sizes with skilled, affordable freelancers.

The COVID-19 pandemic and ensuing economic crisis have provided harsh reminders of how precarious a not-for-profit organization's financial stability can be.

If you are seeking opportunities to improve your company's cash flow, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry...

If your estate plan documents make use of a revocable trust, also known as a "living trust," you need to ensure that the trust is fully "funded." When properly structured, revocable trusts can provide significant benefits,..

While a big focus for restaurants revolves around the food, service and atmosphere, owning and operating a successful restaurant really starts with good accounting.

If your organization struggles each time it needs to fill a board vacancy and does not always come up with the candidates it desires, it may be time to consider creating a board compensation program.

With the passage of the Coronavirus, Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, the IRS provided plan adoption and amendment relief to plan sponsors.  

Because they foster a collegial, trusting environment, law firms can be more vulnerable to fraud than many other types of businesses.

With the economy on the upswing, many firms are feeling flush, but current success may mask hidden financial danger.

Today more lawyers than ever before are in private practice. Almost 90% of today's firms employ 10 or less attorneys.

As we previously reported, Illinois extended the filing and payment deadline for 2019 income tax returns to July 15, 2020.

As the season changes from fall to winter, snow begins to fall and brewers release their holiday beers.