Silver Advantage Alerts
Our Silver Advantage Alerts provide timely updates on important accounting, tax, and consulting developments that impact our clients. Alerts are typically sent monthly unless tax law changes occur, driving additional communications.

Accounting and Tax Considerations for Expanding into the United States

MichaelSilver works with many international companies looking to start or expand their business in the United States. Typically, these companies are successful in their home country. The owners know the United States is the land of opportunity as well as the land of tax traps and legal problems. We share the common goal of wanting these businesses to succeed in their endeavors in the United States and we help them navigate the complexities of the United States’ business world.

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Midyear Planning

As we continue to strive toward a post COVID-19 world, we hope that you and your loved ones find yourselves safe and well. We once again navigated a postponed tax filing season, albeit a shorter one, which brought with it its unique challenges as well as some tax saving opportunities provided by continued relief legislation.

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Do You Know the Value of Your Manufacturing Business?

Owners of manufacturing businesses often wonder, “What’s my business worth?” This question is especially pressing if the business is the target of an acquisition, or if the owner is considering selling or transferring the business to heirs. Valuing your manufacturing business is a critical measure for you and your stakeholders who may include family members, shareholders, your management team, employees, and lenders.

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Six Elements of a Successful Exit Plan

Developing an exit plan is the most important thing a business owner can do to protect the value of their business and avoid a “worst case” scenario. An exit plan is a comprehensive roadmap that addresses all the business, personal, financial, legal, and tax issues involved in selling a privately owned business.

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Tax Deadline for Individual (1040) Tax Returns Pushed to May 17, 2021

On Wednesday, March 17, 2021, the Treasury Department and IRS announced that the federal income tax filing due date for individuals (1040) for the 2020 tax year will be postponed from April 15, 2021 to May 17, 2021. Illinois and various other states have already followed the lead of IRS and are extending their due dates for 1040s to May 17th as well.

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