Tax Planning and Consulting

Tax Planning and Consulting

 

We Go Beyond Simply Preparing Tax Returns

We monitor current tax laws and proposed changes and continually look for a new approach or strategy to provide you with significant advantages. Our unique tax planning and consulting services can help you and/or your business realize significant benefits.

The Best Planning Begins before Something Happens

Complying with the myriad of tax filing requirements is important for you and your business. The tax planning activities related to those filings are an integral part of any long-term business strategy and personal investment plan. MichaelSilver appreciates and understands the importance of the year-round tax planning process. Our tax experts focus on guiding and supporting our clients every step of way. We can assist you with:

  • Getting a Business Up and Running
  • Entity Type Considerations
  • Growing and/or Selling a Business
  • Planning for Retirement
  • Protecting Assets for the Next Generation
  • General Wealth Transfer

 

The bottom line…long-term high quality tax consulting
can make a difference to both your net worth
and your future success.

John Hsiao

CPA, Partner

John Hsiao

John Hsiao

CPA, Partner

Laurie Kaplan

Laurie Kaplan

CPA, Partner

Quinn Harris

Quinn Harris

CPA, Partner

Kristy McElroy

Kristy McElroy

CPA, Partner

Katy Giesecke

Katy Giesecke

CPA, Partner

Joseph P. Roznai

Joseph P. Roznai

CPA, CGMA, Partner

Larry Isaacson

Larry Isaacson

CPA, Partner

Resource Article

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

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 effective on January 1, 2025, impacts those who lease or rent tangible personal property to others in the ordinary course of business. Lessors are now considered to be retailers subject to Illinois’ Sales and Use Tax, and are required to register with the Illinois Department of Revenue (IDOR) and pay tax on lease or rental receipts.

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