On August 27, Illinois Governor J.B. Pritzker signed into law a bill that will provide owners of partnerships or S corporations with a workaround to the federal $10,000 state and local tax (SALT) deduction cap applicable to individual taxpayers. This new law will provide a major break to Illinois taxpayers who were otherwise unable to…
I joined Weiss when the firm where I worked, KRB, arrived in a merger in 2018. KRB was relatively small, and I was nervous about moving to a medium-sized firm like Weiss. The first six months were an adjustment – we were already in the busy tax season, and there was a learning curve. But…
I spent a lot of my career in administrative roles within Finance and Accounting at a large multi-national company, but I wanted a new challenge, so I started looking for a bookkeeping and accounting position. I was soon hired at a small accounting firm, and a few months later the firm merged with Weiss and…
My family immigrated here 10 years ago from India. Originally, I did not plan to become an accountant; I was thinking of medicine or engineering. But when my father retired, I needed to be the sole bread winner for my family. So I went to Northeastern Illinois University and majored in management, and worked full-time…
Last week, the SBA announced plans to open a “PPP direct forgiveness” portal which will allow borrowers to apply for PPP loan forgiveness directly, eliminating the need to go through their lenders. The new portal, which opens this Wednesday, August 4, is limited to loans up to $150,000, only from participating lenders. The SBA will…
