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Our Business Matters newsletter is comprised of important and informative articles related to businesses, entrepreneurs and individuals. The articles cover a broad range of topics from retirement to new accounting laws and regulations. Each newsletter is sent by email every eight weeks.
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Highlights of the new tax reform law

The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers. Below are highlights of some of the most significant changes affecting individual and business taxpayers. Except where noted, these changes are effective for tax years beginning after December 31, 2017.
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Stealing in plain sight

July 17, 2014 by Joseph M. Palmar, CPA/CFF
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Rice, Sullivan & Co. Accountant Obtains CPA Designation

The local accounting and consulting firm of Rice, Sullivan & Co. is pleased to announce Eric Macke has obtained his Illinois Certified Public Accountant (CPA) license.
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2011-2012 Tax Planning Guide

If you think tax planning has become more complicated than ever, you’re absolutely right. Not only have there been frequent and significant changes in tax law over the past year, but there’s also the likelihood that there will be more soon. However, just what those changes will be and when they’ll take effect is almost impossible to predict.
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Local Accountant Receives Promotion

The local CPA firm of Rice, Sullivan & Co. is pleased to announce Kristen B. Schuler, CPA has been promoted to manager.
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Local Accountant Obtains CPA License

Rice, Sullivan & Co., Ltd. is pleased to announce Jason T. Miller has obtained his Illinois license as a Certified Public Accountant (CPA).
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Legislative Update – Economic Recovery and Budget Reform

As financial advisors, we like to keep our clients and friends informed of timely accounting and tax information that may affect their financial situation. To that end, we want to make you aware of the new State Senate Bill 2505 - Economic Recovery and Budget Reform. The Bill includes both temporary and permanent increases in Illinois' corporate and individual income taxes. Below are key points of the new legislation:
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Congress Passes Tax Relief Act of 2010

On December 6th, President Obama and GOP leaders agreed to the framework of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (Tax Relief Act of 2010) to extend Bush-era tax cuts which were originally due to expire on December 31, 2010. In an expected move on the evening of December 16th, the U.S. House of Representatives voted in favor of the bill after the Senate gave its approval earlier in the week. The bill will now be sent to the President to be signed into law.
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2010 Year-End Tax Planning Information

In these turbulent economic times, tax planning is more complicated than ever. This is especially true as the end of 2010 approaches.
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IRS Warns of E-mail Phishing Scam

As your trusted advisor, we at Rice, Sullivan + Co. strive to keep you informed of any news and alerts, positive or negative, which may affect your organization. It was recently brought to our attention that "Phishers" are up to their antics again, sending out e-mail notices that appear to be from the IRS. Since many of us find the federal tax filing process complicated, confusing and even intimidating, many of us would also tend to open e-mails and click on links if we receive emails that appear to be from the federal agency.
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