FinCEN Announces BOI Reporting Back in Effect
February 19, 2025Sorry business owners BOI reporting is back on with the deadline reset to one month. As of February 19, 2025, mandatory Beneficial Ownership Information reporting requirements are back in effect, with a new deadline of March 21, 2025, for most companies. U.S. Financial Crimes Enforcement Network (FinCEN) will assess its options for further modifying deadlines…. Read more »
Scam of the Week-It’s a Real Email but Fake Facebook
February 18, 2025Don’t Log In-Your Facebook is Just Fine A new twist in online scams is trying to steal your Facebook login information. Cybercriminals send an email claiming your Facebook page violates copyright laws. This scam is particularly convincing because the email you receive appears to be from a legitimate sender. The email even contains what… Read more »
Everything You Need to Know About Estate Taxes in Illinois
February 10, 2025Illinois has its own estate tax, separate from federal requirements, with an exemption threshold of $4 million. Estates exceeding this amount may be subject to taxation, even if no federal estate tax applies. Understanding these obligations is essential for individuals and business owners looking to protect their assets and transfer wealth efficiently. With the right… Read more »
Joey Fasuna Wins Contest with Guess of 1762!
February 07, 2025Young Fasuna Wins Contest Just 7 Candy Hearts Away from Actual Amount Congratulations are in order for Chicago native and nephew of our own Chris Bednarek, Joey “Little Joe” Fasuna has won the candy contest! He guessed 1762 and the exact amount of candy hearts was 1769-no one else was THAT close! Nice work Joey! (We… Read more »
Big Four Accounting Wants to Be Like AJM&A
February 05, 2025AJM&A, Ltd. Offers a Model That KPMG is Hoping to Recreate You know you are doing something right when the likes of KPMG and other Big 4 accounting firms are copying your model. For nearly 30 years, Anthony J. Madonia & Associates, Ltd. has been providing legal and tax services to businesses and individuals. Now… Read more »
Be Alert to Tax Season Scams
February 04, 2025Tax Scams: What to Watch for in 2025 Tax season is a time of year that many people approach with a mix of anticipation and trepidation. Some see it as a chance to claim refunds and get a financial boost. Yet others only feel the dread of navigating paperwork or meeting expensive tax obligations. But… Read more »
Madonia Named President of The Donald and Lorena Meier Foundation Board of Directors
January 31, 2025Anthony Madonia Accepts Position of Board President of the Donald and Lorena Meier Foundation Longtime board member of the Donald and Lorena Meier Foundation, Anthony Madonia will step up to provide new leadership as President of the Board of Directors. The Donald and Lorena Meier Foundation supports a variety of community initiatives including natural resources,… Read more »
Anthony J. Madonia Named to New Position on Safer Foundation Board of Directors
January 31, 2025From Treasurer to Co-Chair, Anthony J. Madonia Actively Serves on Safer Foundation Board of Directors Since 1972, Safer Foundation’s mission has focused on supporting, through a full spectrum of services, the efforts of people with criminal records to become employed, law-abiding members of the community and as a result, reduce recidivism. Safer serves over 5,300… Read more »
What is an Administrative Trust?
January 28, 2025An administrative trust is a temporary legal arrangement created after someone’s death to manage and distribute their assets as outlined in their estate plan. It is typically established to handle administrative tasks such as paying debts, resolving claims, and distributing assets before the trust’s termination. Understanding the purpose of an administrative trust can help ensure… Read more »
Keeping Track of BOI Reporting Deadlines
January 27, 2025Nothing Due at This Time Despite Supreme Court Ruling Running a small business comes with a seemingly endless list of tasks, and keeping up with new regulations can feel overwhelming. Beneficial Ownership Information (BOI) reporting, a requirement for most small businesses in the U.S. under the Corporate Transparency Act (CTA), might seem like just another… Read more »