Newsletter

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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LLG Mourns One of Our Own

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SEYMOUR LEVIN FEBRUARY 18, 1930 – MAY 18, 2018 On Friday May 18, 2018 Seymour (“Sy”) Levin passed away at the age of 88. Lipschultz Levin & Gray, LLC proudly bears Seymour’s name as one of its founding partners. We extend our deepest condolences to his two children: Gene (who is himself a member of the LLG team) and Julie, and to their spouses Amy and Robert, to all Seymour’s grandchildren and the entire Levin family. Seymour was a wonderful and devoted family man, an accomplished athlete, an attorney, and a veteran of the Korean War,...

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LLG Wins State-Wide Award

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We are proud and pleased to announce that Lipschultz Levin & Gray, LLC (“LLG”) has been named as one of the 2018 Best Places to Work in Illinois. This award reflects and acknowledges our continued commitment to foster an environment that encourages mutual respect and teamwork in the workplace. The awards program began in 2006 and is promoted by The Daily Herald Business Ledger in partnership with the Human Resources Management Association of Chicago (HRMAC), the Illinois Chamber of Commerce, MRA-The Management Association, the Small...

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May, 2018 Client Bulletin

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Please click on the following for the latest information on the: May 2018 Client...

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