Question: I have a lake house which I occasionally rent to my corporation for business use. Am I still allowed to both exclude from tax the rental income I receive and have the corporation deduct the rent paid?
In 2024, the employment landscape in Illinois, particularly in Chicago, will undergo a significant transformation with the implementation of two pivotal laws governing paid leave for workers. The Illinois Paid Leave for All...
November 14, 2023
Putting the “Success” into Succession Planning/The Corporate Transparency Act: What Business Owners Need to Know (Fall 2023)
Contributors: Len Gambino, Marc Pawlus
The Corporate Transparency Act (“CTA”) was enacted in 2021 to improve transparency in order to prevent bad actors from engaging in money laundering, tax fraud, and other illicit activities from exploiting US companies....
Finding, grooming, and ultimately selling your business to one or more key employees is a process that typically takes several years. Once you have found the right successors, proper succession planning often involves two...
