If you split your time between an Illinois residence and a Florida residence one common question is, “Can I change my residency to Florida to avoid Illinois state income tax?” The common answer is, it depends.Read More
Most people dread the annual ritual of gathering all their tax documents, preparing their return, and the April 15th tax due date. Some people even choose to avoid the deadline and file an extension, prolonging the process. No matter how you approach it, your taxes will have to be filed.
The IRS has its own agenda for auditing tax returns each year. In general, here are some known areas the IRS likes to target when looking for individuals or entities toRead More
You may recognize the phrase above, coined by the London Underground subway system. In London, “mind the gap” simply means to watch carefully as you exit the train to the platform, as there can be a gap between the surfaces. In an articleI read recently, this phrase was used in a different manner. It referred to the gap in age between millennials and baby boomers.
Did you know that by the end of 2015 millennials (peopleRead More
As the official first day of summer, June 21st, quickly approaches, many people have travel on their minds and schedules. Many of our clients hope to travel now and in retirement. Planning for a vacation is similar to planning for retirement; it is helpful to start early and be well organized from the beginning. If you are considering a vacation this summer, think about your budget, the timing of the trip, and items that could help make your vacation memorableRead More
Brainstorming topics to write about this month, I kept thinking about all the changes that happen during the transition from college into the real world for the first time. Being at this point in my life, I know firsthand about the learning curve that comes during this time. Questions that pop into my head often are: Am I spending too much on rent? Am I saving enough? Do I even know how much I am saving per month, ifRead More