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.
How to Maximize Your Most Important Asset
Most companies know that their most important asset is their people, but many companies and organizations pay only “lip service” to proper selection, training, motivation, and management of their people. In this article we are going to focus on...
Mid-Year Planning
It is hard to believe that about 18 months have passed since President Trump signed into law the Tax Cuts and Jobs Act (TCJA)—the largest major tax reform in over three decades. As the IRS continues to release guidance on the new law, the following...
Illinois Tax – What is New for Dealers?
Illinois Announces a Tax Amnesty Program - Illinois enacted two tax amnesty programs that will be available from October 1, 2019 through November 15, 2019. This is the first tax amnesty Illinois has offered since 2010. Under both programs, the...
New Illinois Tax Developments
Included in a flurry of late legislative session activity, Illinois just enacted a new sales tax law to expand the manufacturing machinery and equipment exemption to include production-related, tangible personal property purchased on or after July...
The New Revenue Recognition Standard
What we keep referring to as the new revenue recognition standard isn’t so “new” anymore, as the guidance was issued in 2014. However, considering the many amendments issued in the years following and the delay of the effective date, it is still...
Leadership and International Business Culture and Etiquette: We speak the same language, right?
The world has gotten a lot smaller than it used to be, figuratively speaking of course, because travel and communication have gotten so much better and affordable during the last decade. More people than ever travel to other countries for both...
Illinois Businesses Need to Act Now – The Illinois Secure Choice Program Has Arrived
The Illinois Secure Choice program is a mandatory state run retirement plan. It will apply to your company if you meet the state mandated criteria (defined below) and if you do not currently offer a retirement plan to your employees. However, even...
Interstate Sellers: Are You Ready for Sales Tax after Wayfair?
In July, we wrote to tell you about the results of a June 2018 Supreme Court decision that will impact interstate sales for years to come. In the Wayfair case, the Supreme Court ruled that a state can require any seller to charge sales tax...
2018 Year-End Tax Planning Checklist For Dealers
As another tax year comes to a close, it is time to consider your tax planning opportunities. The tax law passed last December (TCJA) could have a major impact on your business and personal income tax returns.Year-End Planning:The C Corporation tax...
2018 Year-End Tax Planning Checklist
As we approach the final weeks of 2018, there is still time to minimize your 2018 tax liability and get a jump start on your 2019 tax planning. As you may already know, 2018 saw one of the biggest overhauls to the tax code in decades, making tax...