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Chicago Lease Tax: What Businesses Need to Know in 2025

Chicago Lease Tax: What Businesses Need to Know in 2025

by paulagooch | Apr 22, 2025 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting, Tax Services

By Kate Russell, CPA, Senior Manager If there’s one thing Chicago loves (besides deep-dish pizza and unpredictable weather), it’s taxes. And starting January 1, 2025, the city has again turned up the heat—this time on leases. The Personal Property Lease Transaction...
Illinois Sales and Use Tax Applies to Leased or Rented Tangible Personal Property

Illinois Sales and Use Tax Applies to Leased or Rented Tangible Personal Property

by paulagooch | Apr 14, 2025 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting, Tax Services

By Angela Adams, CPA, Manager What Businesses Need to Know in 2025 In 2025, Illinois is expecting changes to take effect, including easier gym membership cancellations and the introduction of digital driver’s licenses. One significant change that became...
Illinois Sales and Use Tax Applies to Leased or Rented Tangible Personal Property

Understanding State and Local Taxes for Businesses

by paulagooch | Mar 6, 2025 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting, Tax Services

By Kate Russell, CPA, Senior Manager In the business world, we all know Uncle Sam gets the spotlight when it comes to taxes, but let’s not forget about his quieter, sneakier cousins: state and local taxes (SALT). They might not demand as much attention—or as much...
Important Update:  Beneficial Ownership Information Reporting is Back in Effect and FinCEN Extends Deadline

Important Update: Beneficial Ownership Information Reporting is Back in Effect and FinCEN Extends Deadline

by paulagooch | Feb 27, 2025 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting, Tax Services

By MichaelSilver Nationwide Injunction Lifted Following a February 18, 2025 court decision, the previous nationwide injunction on Beneficial Ownership Information (BOI) reporting has been lifted. BOI reporting requirements under the Corporate Transparency Act (CTA)...
Important Update:  Beneficial Ownership Information Reporting is Back in Effect and FinCEN Extends Deadline

Important Update: Federal Court Issues Nationwide Injunction Against Corporate Transparency Act

by paulagooch | Dec 12, 2024 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting, Tax Services

By MichaelSilver On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction blocking enforcement of the Corporate Transparency Act (CTA) and its implementing regulations nationwide. The court found that the...
2024 Year-End Tax Planning Checklist

2024 Year-End Tax Planning Checklist

by paulagooch | Nov 14, 2024 | Silver Advantage Alerts, Tax Compliance, Tax Planning and Consulting

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