S-Corp taxes recently changed in Illinois. The state legislature recently passed SB 2351, a corporate tax reform law, that has significant ramifications for S-Corporations (“S-Corps”). Before diving into the law and why it matters, we should cover some background information. What Is An S-Corp? An S-Corp is a sub-type of the classic corporate entity structure, often referred to as [...]
S Corps may seem complex, but they are actually a quite simple tax designation. Not all small businesses will benefit from an S-Corp designation, and the decision to file as one is very individualized. If filing as an S Corp is right for your company, it is not a complicated process; just follow the timeline! https://www.youtube.com/watch?v=JfQ9MHXHo-s [...]
Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more. If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G [...]
This article is intended to be accessible and comprehensible. It is not all-encompassing and does not contain all the terms nor all the context. We highly recommend reaching out to your attorney, CPA, or financial advisor to get advice on your unique situation before applying for any relief listed in this article. Additionally, remember that we are not experts [...]
Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more. If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G [...]
