Cities in Illinois Concerned Over Governor’s Plan to Repeal Grocery Tax Governor Pritzker’s Plan to Scrap Grocery Tax Raises Concerns Among Illinois Cities Governor Pritzker of Illinois made a big announcement recently. He said he wants to get rid of the one percent grocery tax in the state. He thinks this will help people save … Read more
Navigating Tax Brackets and Strategies for Lowering Your Tax Bill Strategic Financial Planning for Tax Savings Understanding how your income taxes are calculated can be tricky but it is important for making smart financial decisions. In 2024 the tax brackets determine how much of your income is taxed at each rate. For example the first … Read more
IRS Introduces Free E-File Tax Return System, Posing a Threat to Major Tax-Preparation Firms IRS’s Direct File System Poses Challenge to Tax Preparation Giants The IRS the government agency that deals with taxes is trying something new. They have made a system called Direct File that lets people file their taxes for free online. Right … Read more
How to Save on Capital Gains Tax When Selling Your Home: The Section 121 Exclusion Qualifying for the Section 121 Exclusion When you sell your home you might worry about paying a big tax called a capital gains tax. But there is a way to save some money on this tax. Its called the Section … Read more
Social Security Struggles with an Aging Population and Declining Birth Rates Factors Contributing to the Depletion of Social Security Funds According to BMSS, Social Security has been important for many people since 1937. It helps with retirement disability and other big life changes. But now there’s a problem. A report in 2023 said that by … Read more