Dear Clients & Friends, Important news for our Illinois business owners: Gov. J.B. Pritzker recently signed into law State Bill 2531, joining more than a dozen states with an effective workaround to the federal $10,000 state and local tax deduction (SALT) cap. The bill is intended to provide tax relief for small business owners, who are […]
Dear Clients & Friends, There’s no doubt that cannabis is a big business, and the industry continues to grow by leaps and bounds. A recent study forecasts that legal cannabis sales in the U.S. will reach $43 billion by 2025. Also by 2025, 42% of the total annual U.S. demand is projected to be met […]
Legal marijuana has gone mainstream, and the cannabis industry is experiencing a boom that shows no signs of slowing down anytime soon. In 2020, global cannabis sales reached $19.7 billion. In the U.S. alone, sales hit a record $17.5 billion last year, according to cannabis market research leader BDSA. Despite those huge numbers — and the […]
Happily, most restaurants that were closed or takeout-only earlier in the pandemic are now offering dine-in service. That’s great news for our business clients, especially those in the restaurant industry, as well as eager diners. (We know we’re ready to enjoy eating out again!) According to revised IRS guidelines released April 8, business meals are […]
As things slowly get back to normal in the wake of the pandemic, many of us are looking forward to getting back to our favorite restaurants. After a year of unprecedented economic hardship, the government is offering funding through the Restaurant Revitalization Fund (RRF) to help ensure restaurant doors remain open.
Spring is in the air, the days are getting longer, and more of us are getting vaccinated against Covid-19, so there’s plenty to be grateful for. There is good news on the tax front as well to help the economy recover from the pandemic.