Tax, Audit, Firm and Regulatory News
In this webinar recorded on July 17, 2024, Senior Tax Manager Will Hendrick provides an overview of the Corporate Transparency Act (CTA), including what the CTA is for, Beneficial Ownership Information Report filing requirements, and an overview of penalties for non-compliance.
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Topel Forman is pleased to announce that the firm has once again been recognized by Accounting Today as Regional Leader and a Firm to Watch. Topel Forman was also named a 2026 USA Today Top Workplace winner, a national honor based entirely on employee feedback.
Illinois Gives offers an opportunity to support long-term charitable endowments benefiting Illinois communities while receiving a state income tax credit. Illinois Gives contributions should be evaluated in the context of broader federal charitable planning, given that the Illinois credit both reduces Illinois income tax liability and, under federal quid pro quo rules, reduces the amount of the federal charitable deduction.
When we talk about gifting as part of a tax strategy, many people assume it’s something only the ultra-wealthy need to worry about. But gifting is actually one of the simplest and most powerful financial planning tools available – and a thoughtful gifting strategy can make a meaningful difference for your family, both now and in the long run.