Financial Resources & News
Transition Planning – Option 2 Family Succession
Transition Planning – Option 2 Family Succession Owners need to understand that conducting a family succession requires a very different path than an owner who is looking to sell to an outside party. Most family successions involve some form of gifting in order to...
Transition Planning – Option 1 Selling Your Business
Transition Planning – Option 1 Selling Your Business When it comes to selling your business, there are more issues to address than most people think. Here are a few key items that impact an exit strategy: Understanding the value. Value is unique to each company,...
Supplies and Consumables Used in Manufacturing are Exempt from Illinois Sales and Use Tax Beginning July 1, 2019
Supplies and Consumables Used in Manufacturing are Exempt from Illinois Sales and Use Tax Beginning July 1, 2019 Recent tax legislation has expanded the manufacturing exemption to once again include production related tangible personal property. Illinois gives...
Be Aware of Electronic Fund Transfers
Fake Direct Deposit and Wire Transfers The IRS issued a fraud alert about a scam involving company expenses. An email requesting changes to payment instruction is sent from a company or name you will recognize. These changes often contain new bank account information...
Chicago CPA and Business Advisory Firm Enters New Era as Bronswick Benjamin P.C.
FOR IMMEDIATE RELEASE Buffalo Grove, IL (February 1, 2017) - Bronswick Reicin Pollack, Ltd., one of the top accounting firms in the Chicago area serving privately held businesses, is proud to announce the firm is changing its name to Bronswick Benjamin...
Partnership Form 1065, K-1 Filings Move Up 30 Days
As we prepare for the 2017 tax season, Bronswick Benjamin would like to make sure you’re aware of important changes in due dates, including one that is moving up on the calendar to impact the vast majority of partnerships. Form 1065 (Return of Partnership...
What Trump’s First 100 Days May Mean For Your Taxes
What will President-elect’s tax plan mean for your business and on an individual household level? BB takes a closer look at what the first 100 days of the Trump Presidency (and beyond) may imply for your plans ahead. On The Business Front: A 20% reduction of the...
Recent Extension to the Application of the Work Opportunity Tax Credit
WOTC Additional Extension 2016 by www.bdo.com Congress recently extended the application of the work opportunity tax credit (the “WOTC”) to an employee who began working after December 31, 2014, and before January 1, 2020. Because the extension was not enacted until...
The Affordable Care Act Six Years Later
Success or Failure? by John Green and Steven Shill, www.bdo.com The Affordable Care Act (ACA or, colloquially, Obamacare) was passed into law on March 23, 2010. To say that the ACA has generated a considerable amount of controversy over the past six years would be an...