Category: Individual Tax

Illinois Invest in Kids Act

Recently, Illinois enacted the “Invest in Kids Act,” which provides for a tax credit equal to 75% of qualifying contributions made to a Scholarship Granting Organization (“SGO”), up to a maximum $1 million per taxpayer. The credit is not available to taxpayers who claim a federal income tax deduction for
Read More

You may need to add RMDs to your year-end to-do list

As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New
Read More