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Smaller law firms that are reluctant to add more equity partners may consider creating nonequity partnerships to reward and retain high-performing associates and lure in laterals.

The COVID-19 pandemic has affected many people and businesses across the country. After a year has passed, many thriving businesses are now barely breaking even while struggling businesses have...

The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year.

In today's technologically advanced world, data rules. But simply having highly relevant information will be of little use if your board of directors, management and staff do not know what to do with it.

Planning for retirement has never been more important, especially for those in my generation (Millennial) and for the generations that have and are to come after me (Generation Z and Alpha).

The U.S. House of Representatives passed a crucial part of President Biden's agenda by a vote of 220-213 on November 19.

The end of the tax year for calendar-year law firms is just around the corner. Now is the time to take those last-minute steps that can reap significant tax savings on your 2022 return.

As a medical professional, you probably have a clear idea of what you want from your staff, but do you know what they want from you? Finding the answers to this question can be highly beneficial...

Last year's Inflation Reduction Act (IRA) revived the federal tax credit for new energy-efficient homes, which had expired at the end of 2021, and extended it through 2032. Previously...

In today's highly competitive markets, it is critical for manufacturers to embrace environmental, social and governance (ESG) initiatives.

Over the past few years, as a result of the COVID-19 pandemic as well as other developments in the medical arena, practices have increasingly relied on technology. This includes the much wider...

For years, larger businesses have relied on cost segregation studies to accelerate their depreciation deductions and, as a result, reduce taxes and boost cash flows.

While hourly billing has been the mainstay of legal billing, it is not the only option. In the wake of an economic downturn...

Illinois has been declared a disaster state due to the COVID-19 pandemic. Illinois small and mid-sized businesses are now qualified to apply for SBA Economic Injury Disaster Loans...

Owners of manufacturing and distribution companies are often so focused on the here and now that planning for future catastrophes may fall through the cracks, especially if the owners are young and healthy.

In the beginning of the evolution of a start-up, it is likely that the founder is in a lone wolf scenario. He or she is grinding away to get the business off the ground.

Minutes of your board's meetings may seem like a mere formality; however they are much more than that.