by Mary Doherty | Aug 31, 2021 | News, Tax Planning
On August 27, 2021, Governor Pritzker signed into law the Optional Pass-Through Entity Tax, a state and local tax cap (“SALT Cap”) workaround for partnerships and S corporations for tax years 2021 – 2025. (Please see our prior release.) The SALT Cap workaround allows...
by Mary Doherty | Aug 31, 2021 | Business Planning
Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after several deferrals by the Financial Accounting Standards Board (FASB), private companies and nonprofit entities must follow suit, starting in fiscal year 2022. The...
by Mary Doherty | Aug 26, 2021 | Nonprofit
Economic instability caused by the pandemic may have your nonprofit scrambling to find funding. But just as important is making internal adjustments that build your nonprofit’s capacity to fulfill its long-term mission. However, you may want to tweak the standard...
