Blog
When Disaster Strikes Western Illinois Taxpayers: Casualty Loss Deduction
Well, if you had an account with FTX, you very well might be in some financial difficulty. To a certain segment of our Western Illinois clients, this is a BIG deal. As such, I'll have more thoughts in the following weeks as things become more clear.But the "good"...
A Tax Documentation Backup How-to for Western Illinois Filers
First, let’s discuss the elephant in the room: the mid-term elections.Depending on when you’re reading this, they might be underway in your Western Illinois precinct, they might be already in the rearview, they might not even have raised themselves to the level of...
Western Illinois Borrowers Be Wary of These Student Loan Forgiveness Scams
Before I dive into those scammers (one of my favorite topics – simply because I love SAVING Western Illinois people from these criminals), some good news on the “The IRS Might Not Be a Total Dumpster Fire in 2023” front.Maybe.Because a few days ago, the IRS achieved...
A Tricky Tax Credit for Western Illinois Electric Vehicle Owners
I think you probably realize that last Monday was the final deadline for 2021 taxes, and we can now (finally) put those returns to bed.Or can we?Frankly, with a number of our new Western Illinois clients this past year, we reviewed returns prepared via software and/or...
Child Tax Credit
Dear ClientsI normally don't send these special bulletins, but I wanted to get this to you ASAP.You probably heard on the news that the IRS is sending out "advance payments" of $250 - $300 per month for children.The first payments went out THIS WEEK (July 15th).The...
Multi-Generational Caretaking Tax Planning for Western Illinois Families
One of the trends of recent years has been a rise in multi-generational living. Whether it's for economic or health reasons, when Mom and Dad or other, older members of the family move in, there are important things to keep in mind as it relates to maintaining your...
Tax-Wise Charitable Giving Strategies From CL Anderson & Associates, PC
It's a good idea to take your internal temperature and do whatever you need to do to get to a place of focus, amidst all of the national and global distractions that continue ad infinitum. Many of our Western Illinois clients are under enormous pressure for one reason...
CL Anderson & Associates, PC’s Top 5 List of Potentially Fatal Business Mistakes
There is a difference between income and wealth. Tax returns aren't about wealth -- they're about "income", and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not ... and wage-earners probably...
Financial Documentation Strategies for Western Illinois Taxpayers
Ah, the wonders of financial documentation... Today’s topic has the benefit of ensuring your Western Illinois "financial fortress" is as airtight as it can possibly be, which has its own advantages. Financial Documentation Strategies For Western Illinois Taxpayers...
