August 14, 2026A new federal savings account for children launched in the middle of 2026, and we've already fielded a handful of…
June 9, 2026Three Key Takeaways Getting a notice from the Illinois Department of Revenue is unsettling even when the underlying situation is…- June 9, 2026Three Key Takeaways The rules around deducting meals and entertainment have tightened considerably over the past several years, and 2026…
- June 9, 2026Three Key Takeaways One of the reasons business owners elect S corporation status is tax efficiency. Profits distributed to shareholders…
- May 5, 2026Three Key Takeaways Chicago does not have a local income tax. Illinois law does not grant municipalities the authority to…
March 9, 2026Three Key Takeaways In most states, S corporations avoid entity-level state income tax. Illinois takes a different approach. The state…- February 10, 2026Three Key Takeaways Chicago's Personal Property Lease Transaction Tax (PPLTT) increased from 11% to 15% effective January 1, 2026. This…
October 20, 2025Three Key Insights At Ahlbeck & Cook, we remind clients that effective year-end tax planning starts long before December 31,…- October 14, 2025Running a business in Chicago comes with unique challenges—not least of which are the city's specialized local taxes. From equipment…
- September 3, 2025Quick Reference: 2025 Tax Year Filing Deadlines Entity TypeFormDue DateExtension DeadlineS-CorporationIL-1120-STMarch 15, 2026October 15, 2026Partnership/LLCIL-1065April 15, 2026October 15, 2026C-CorporationIL-1120April 15,…
