Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. Yet we often see this benefit overlooked on tax returns, especially when S-Corp shareholders pay for their insurance through work.

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CPA Practice

JULY 12, 2023

If the estate is the beneficiary, the value of the HSA is included in the final tax return and the taxable amount may be reduced by any qualified medical expenses incurred by the decedent and paid within a year after the date of death. Rahill, CPA/PFS, JD, LL.M., CGMA, is a managing director at Wintrust Wealth Management.

Tax 98

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CPA Practice

FEBRUARY 1, 2023

The penalty will be further reduced to 10% for IRA owners if the account owner withdraws the RMD amount previously not taken and submits a corrected tax return in a timely manner. Illinois CPA Society member Daniel F. Rahill, CPA/PFS, JD, LL.M., CGMA, is a Managing Director at Wintrust Wealth Management.

Illinois 96

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CPA Practice

FEBRUARY 3, 2023

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits. Find an Illinois CPA at www.icpas.org/findacpa.

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CPA Practice

JANUARY 31, 2023

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits. Find an Illinois CPA at www.icpas.org/findacpa.

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CPA Practice

MARCH 14, 2023

This article was provided by the Illinois CPA Society. Tax season may be in full swing, but there’s still time to make a smart money move that often goes overlooked by taxpayers eager to file their tax returns and pocket their refunds: saving for retirement.

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Going Concern

FEBRUARY 16, 2024

This is according to the Illinois CPA Society (ICPAS), which surveyed 449 employers and 433 accounting and finance employees last summer and released its results last month. Bousselot said letting state agencies hire private CPA firms for audits might address the shortage of CPAs in Iowa and encourage more to enter the profession.

Real Estate 104

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Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. Illinois, where four of the last ten governors have gone to prison.

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Going Concern

AUGUST 25, 2023

Firm Watch Baker Tilly Names Adam Grinde Illinois Managing Partner [ Business Wire ] Grinde succeeds Thomas Walker who transitioned to a regional leadership role as managing partner – Central U.S. ” Grinde will provide leadership, management and strategic direction to grow the firm’s Illinois market. effective June 1.

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Going Concern

JANUARY 5, 2024

CPA Tom Janney Announces Retirement [ WJLE ] Local stories like these are so cute. Longtime local CPA Tom Janney has announced his retirement from the tax and accounting side of Janney & Associates, CPAs, PC, a business he started in 1992 but sold to another firm fourteen months ago. Happy trails, Tom!

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