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Pritzker says he'd veto any Chicago financial transaction tax

Accounting Today

The Illinois governor's comments follow months of speculation over how Chicago Mayor Brandon Johnson plans to raise revenue to tackle the city's embattled finances.

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Anders Names 2024 Partners

Anders CPA

Julia graduated from Southern Illinois University – Edwardsville with a B.S. She is a treasurer for the International Association of Microsoft Channel Partners and is a member of the Computer Management and Information Systems Advisory Board for Southern Illinois University – Edwardsville. Learn more about Julia Deien.

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State Income Tax Planning Considerations for a Liquidity Event

Withum

Make sure you are considering the type of income when implementing state income tax planning techniques. State Tax Rates States without personal income taxes allow taxpayers to significantly reduce their overall tax liability. In addition, some states have flat tax rates, such as Pennsylvania and Illinois.

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What Do Taxes Have to Do with the NBA Finals?

CPA Practice

In 1991, following the NBA Finals, California assessed state income taxes against the Chicago Bulls (including Michael Jordan), who played the Los Angeles Lakers in the NBA Finals that year. Illinois then enacted its law, “Michael Jordan’s Revenge,” to tax players who came to Chicago, and other states followed suit.

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The Benefits of Delayed Business Filings

CPA Practice

States with tighter schedules include Illinois and New York (up to 60 days) and Virginia (up to 15 days). Administrative considerations: If administrative or logistical challenges could cause delays, planning for a later filing date may provide the necessary time to address and overcome these issues.

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Ryan Huff, Joshua Snyder and Clay Kniepmann Named Principals at Anders

Anders CPA

About Ryan Huff Ryan began his accounting career at Anders in 2008 and has worked his way up to principal as a technical resource for the tax department. Ryan provides valuable tax planning and compliance strategies for individuals, families and small businesses, including partnerships, S-corps and LLCs. He holds a B.S.

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What Does A Tax Extension Mean For You?

Nancy McClelland, LLC

. • If you are anticipating a large refund, your CPA will likely try to get your extended return completed as soon as possible once all tax information is available. Your CPA may also want to discuss tax planning opportunities with you so that, in future years, you don’t give the IRS an interest-free loan.