Friedman + Huey is committed to keeping our clients up-to-date on the issues that impact them the most. From general accounting news, to regulatory updates that affect high net worth individuals and estates, we’ve got you covered.
Many businesses thought they didn’t qualify for the Employee Retention Credit but later found out they did. The good news is businesses can still file for and claim the ERC on amended tax returns through 2024.
Buying property and selling after it’s appreciated is a wealth-building strategy that has been around for centuries. It’s even better if that property can make you money through rental income.
Taxes are a constant for any business. Planning for your taxes is an important business function that allows you to make decisions to maximize your tax deductions and save your business on taxes.
Have you heard about The Great Reconsideration? If not, it’s a real thing, and it’s something you need to evaluate if you’re closing in on retirement or thinking about doing so early.
The U.S. House of Representatives recently passed Securing a Strong Retirement Act, H.R. 2954, also called the SECURE (Setting Every Community Up for Retirement...
If you are a partner in a partnership or a shareholder in an S Corporation, did your entity consider a pass-through entity tax (PTET) election as part of its 2021...
Many people mistakenly believe tax withholding will be adequate and possibly guess at a “cushion” for estimated quarterly tax payments. A second mistake is thinking the IRS means what they say in using the term “quarterly.” If only it were that straightforward.
Many people are fortunate enough to have their valuable collections (whether it be art, coins, baseball cards, etc.) covered by insurance; however, they need to consider the unintended tax consequences of how they spend their insurance proceeds.
Pass-Through Entity Tax A bill proposing significant changes to the Illinois tax code, including the creation of a pass-through entity tax, has been passed by Illinois...