Silver Advantage Alerts
Keeping You Informed
We strive to keep you abreast of the latest news and emerging trends that may impact your business decisions through MichaelSilver’s Silver Advantage Alerts. Explore the latest finance and industry updates below and sign up to receive our alerts directly in your inbox.
Get on Track Now for the 2024 1099 Season
As we approach the mid-point of the year it is a great time for a refresher on 1099 reporting requirements. See the useful tips below to get on track for the 2024 1099 season.
Midyear Planning
Midyear tax planning enables individuals and businesses to proactively manage their tax obligations, identify potential savings, and make informed decisions for the remainder of the year.
Knowing What Your Business is Worth Yields Valuable Business Intelligence
It is a common question among business owners: “Why should I invest the time and go through the trouble of performing a business valuation if I am not currently considering selling my business?”
The Top 5 Reasons Why Having Your Accounting in Order is Crucial for Business Success
In the dynamic and fast-paced world of business, maintaining accurate and organized financial records is paramount. Whether you are a small startup or an established company, the importance of having your accounting/bookkeeping in order cannot be overstated.
Intuit Will No Longer Support QuickBooks Desktop Pro 2021 as of May 31, 2024
We are providing you with some very important information from Intuit for users of QuickBooks Desktop and those considering new accounting software! As of May 31, 2024, Intuit will no longer support QuickBooks Desktop Pro 2021.
Important 2024 Compliance Reminder: Illinois Unclaimed Property
The Illinois Treasurer requires all businesses and not-for-profits to file annual unclaimed property reports. These reports are due May 1st. Even if an entity is not holding any unclaimed property, it must still file a negative (no unclaimed property) report.
Understanding the Approaching Changes to Estate and Gift Tax Exclusions
The lifetime estate and gift tax basic exclusions are set to undergo a significant reduction after 2025, a repercussion of the approaching sunset of the temporary provisions introduced by the Tax Cuts and Jobs Act (TCJA).
Illinois Imposes an Estate Tax for Residents and Nonresidents
Illinois is one of the eleven states that impose an estate tax on a portion of a person’s assets upon death. The Illinois estate tax has a significantly lower exemption and broader reach than the federal estate tax system.
MichaelSilver Bells! MichaelSilver Bells! It’s 1099 Time in the City!
Our Client Accounting/Advisory Services group at MichaelSilver is ready to prepare your 2023 1099s!
2023 Year-End Tax Planning Checklist
As 2024 draws near, it is an excellent time to review your tax planning strategies. This guide outlines various potential tax-saving opportunities.