LLG Memories – Day of Service

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LLG Memories – Day of Service Each year, LLG participates in the Illinois CPA Society’s Day of Service. There are great opportunities out there to volunteer within our community, having fun while helping to enriching the lives of others. Past organizations we have been fortunate to visit include: North Lawndale College Prep, Anti-Cruelty Society, Journeys – The Path Home, Feed My Starving Children, and Watts of Love. This year will be no different as the 2019 Day of Service has been announced for September. We are currently...

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LLG Crosses Tax Season Finish Line

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LLG Crosses Tax Season Finish Line It was a feverishly paced March and April of 2019 racing through this year’s tax season, but the LLG staff handled whatever curves came our way to greet the checkered flag like Champs! Afterwards, it was time to celebrate and unwind. We were able to enjoy some time at K1 Racing Complex as a group for a little healthy competition and a lot of speed. Qualifying race set the tone and the Championship race brought out the winners. First Place:  Mike Rice Second Place:  Neshant Dedakia Third Place:  Aaron...

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Client Bulletin February, 2019

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    Click here to view the Client Bulletin for February, 2019:  Client Bulletin Feb 2019 

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2018 Tax Planning Guide

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Click on the following link to view the :  2018 Tax Planning...

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August, 2018 Client Bulletin

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Please click here to view: Client Bulletin Aug...

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New Tax Reform Law Regarding Deductions

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THE NEW TAX REFORM LAW TAKES A BITE OUT OF MEALS, ENTERTAINMENT, AND TRANSPORTATION DEDUCTIONS By Jay M. Rubinstein The Tax Cuts and Jobs Act, (TCJA), although being pro-business in many respects, limits the deductibility of meals, entertainment, and transportation expenses. In the past, taxpayers could deduct 50% of expenses for business related meals and entertainment. But under the new law, many clients are asking questions regarding these new limitations. We have simplified the changes so you and your business can have a quick guide to...

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South Dakota vs. Wayfair – State Sales Tax and State Income Tax

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SOUTH DAKOTA V WAYFAIR INC. A VERY IMPORTANT DECISION FOR YOUR BUSINESS AFFECTING STATE SALES TAX AND STATE INCOME TAX On June 21, 2018 the Supreme Court rendered a decision with far reaching and substantial implications for many businesses. The purpose of this communication is to inform you of the importance of this decision and to encourage you to contact us to discuss how this decision could affect your business and operations. The History In Quill Corp. v. North Dakota (“Quill”), the U.S. Supreme Court held that a state could not require...

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Key Individual Tax Provisions of Tax Cuts and Jobs Acts of 2017 (TCJA)

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Click on the link below to see a chart of the key individual tax provisions of the Tax Cuts and Jobs Act of 2017, which include the item, effective date, new law and before the law change: TCJA Key Individual Tax...

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Key Tax Cuts and Jobs Act (TCJA) Changes to Fringe Benefits

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Click on the link below in order to see what’s involved in the various changes to fringe benefits, including:  the item, effective date, prior law, and new law:...

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Letter regarding Tax Cuts and Jobs Act – June, 2018

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To Our Clients and Friends Over the past several months, we’ve digested the many tax law changes brought by the Tax Cuts and Jobs Act (TCJA). These changes bring a host of uncertainties as well as planning opportunities. From lower tax rates to a new deduction for pass-through income, the new tax law may mean more cash in your pocket. This letter presents some tax planning ideas under the TCJA for you to think about this summer while there’s sufficient time left in 2018 to take tax-saving actions. Some of the ideas may apply to you, some to...

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