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Facing a Tax Levy on a Single Member LLC 31 May 2011 | 06:00 pm
If you own a single member LLC and owe personal back taxes, there are certain ways the IRS can and cannot leverage your business assets to secure the money. First, the IRS cannot put a tax levy on a ...
Inherited IRAs Demystified 16 May 2011 | 06:00 pm
Since IRAs have become a popular retirement tool, it was only a matter of time before inherited IRAs become a common place. When the owner of an IRA passes away, the named beneficiary inherits the acc...
Using Roth IRA Income to Fund Retirement 2 May 2011 | 06:00 pm
If you're in or near retirement, chances are you've already heard that you can use Roth IRA income as a key tool in funding your retirement. That’s because, while money going into a Roth IRA i...
Tax Day Countdown: Smart Facts & Chuckles 2 Apr 2011 | 02:03 am
Death and taxes. As both an estate planning and tax law firm, we deal with the two inevitabilities every single day. While neither can be avoided, the burdens they place on you and your family can be ...
IRS Tax Audit: Can You Avoid It? 23 Mar 2011 | 06:00 pm
The more money you have, the better chance you have at being audited. Only about 1 percent of all tax-paying individuals are scrutinized with an IRS tax audit in any given year. However, if your incom...
Owe Back Taxes? IRS Is Offering Relief 9 Mar 2011 | 08:00 pm
Do you owe back taxes? Take advantage of a little extra mercy that the IRS is extending in the coming months. According to Kiplinger's, the IRS has announced that it will be raising its federal ta...
Critical Tax Dates For 2010 Tax Savings 23 Feb 2011 | 09:00 pm
For business owners and self-employed individuals, you still may have opportunities to save on your 2010 tax bill. If you run a calendar-year business, March 15 is among your most important remaining ...
Estate Tax Strategies for Married Couples 23 Feb 2011 | 08:00 pm
With the estate tax once again resurrected on both federal and Illinois levels, completely new estate tax strategies are taking shape. Married couples with a taxable estate have a distinct advantage w...
Illinois Income Tax: How it Breaks Down 8 Feb 2011 | 08:00 pm
Many Illinois residents have been left scratching their heads after the legislature last month raised the income tax to a historically high level, in order to offset the state's reportedly $15 bil...
Do You Have a Taxable Estate? 25 Jan 2011 | 09:00 pm
With so many changes in the estate tax laws lately, it's difficult to determine whether you have a taxable estate or not. Even tax advisors and estate planning attorneys have been scrambling to ma...
