Financial Resources & News
2023 Year-End Guide – Financial Transactions
The tax rules dealing with financial transactions and instruments can be complicated, but failure to understand these rules and their application to your business’s transactions could result in negative tax consequences or forgone opportunities.
2023 Year-End Guide – Partnerships
The IRS in the past year has been actively challenging partnerships’ tax positions in court – from the valuation of granted profits interests to limited partner self-employment exemption claims and the structuring of leveraged partnership transactions. At the same time, the agency is dedicating to new funding and resources to examining partnerships.
2023 Year-End Guide – International Tax
2023 has seen important activity with regulation of international tax. Following is a list of items to consider and be aware of for 2023 year-end planning and beyond.
2023 Year-End Guide – State and Local Tax
With thousands of taxing jurisdictions, from school boards to counties and states, and many different types of taxes, state and local taxation is complex. Each tax type comes with its own set of rules — by jurisdiction — all of which require a different level of attention.
Unemployment Fraud Continues to Thrive
Unemployment Fraud Continues to Thrive The Illinois Department of Employment Security (IDES) has reportedly stopped around 1,000,000 fraudulent unemployment claims since March of 2020. That number continues to grow at an alarming pace. There are many consequences when...
Employee Retention Credits (ERC)
Employee Retention Credits (ERC) Implemented as a refundable credit under the CARES Act, the employee retention credit is extended through June 30, 2021. The following also applies for calendar quarters beginning after December 31, 2020: The credit rate is increased...
New Year. New Promotions.
Chicago, IL, January 19, 2021 Bronswick Benjamin is pleased to announce three promotions of our professionals. Dylan Creger will be promoted from Senior Accountant to Supervisor. Daniel Fredrickson and David Thompson will transition from their current roles as...
PPP Application Dates Announced
PPP Application Dates Announced The application window for Paycheck Protection Program (PPP) forgivable loans will open Friday for lenders with $1 billion or less in assets, the US Small Business Administration and Treasury announced. The opening, which will take...
New COVID-19 Relief Bill
[vc_row][vc_column][vc_column_text] New COVID-19 Relief Bill Last night, the U.S. Senate and House of Representatives overwhelmingly passed a $900 billion COVID-19 relief bill that provides more than $300 billion in aid for small businesses, $600 stimulus payments to...