If your business is an LLC or corporation, including a single member LLC, you must fill out this form by the end of 2024, and if you start a new business in 2024 or later, you must report within 90 days of formation. Reporting is done with a special electronic filing with the Treasury Department’s...Read More

As we approach the end of the year, Williams & Schiller shifts focus to tax planning. The year 2024 presents unique financial challenges, with concerns such as inflation, market volatility, and geopolitical risks at the forefront. Rest assured, our dedicated and client-focused team is ready to assist you in navigating these challenges and securing your...Read More

Many of our clients are knowingly, or unknowingly, participating in the “gig economy”. Whether you’re driving for platforms like Uber or Doordash, renting your property through AirBnB or Vrbo, or receiving payments through apps like Venmo, Paypal, Etsy, Stripe, Upwork, or CashApp, it’s essential to be aware of recent developments in this space. These types...Read More

The Tax Cuts and Jobs Act (TCJA), enacted in 2017, brought significant changes to the realm of taxation, particularly concerning gift, estate, and generation-skipping taxes (GST). One of the most substantial modifications was the increase in the exemption amounts for these taxes, providing substantial break to many wealthy Americans. However, these changes were not permanent. Without further...Read More

We hope this email finds you in good health and high spirits, enjoying the summer season. August is National Make-a-Will Month, and we wanted to take a moment to emphasize the importance of this often overlooked aspect of financial planning. Creating a comprehensive will is a powerful step towards securing your legacy and ensuring that...Read More

With the failure of a few banks over the past few weeks, there is concern about contagion in the banking sector, and questions being asked regarding whether we will see other bank failures.  We can’t predict the future, but we can provide some information on what we see as best practices for clients to protect...Read More

For those of you who have already filed, please delete this message and enjoy your afternoon. If you have not yet filed your 2022 Corporate or Partnership taxes, here are some things you need to know about corporate tax deadlines: 2022 Federal Corporate (Form 1120) and Partnership (Form 1065) tax returns are due on Wednesday, March 15th this year....Read More

The Importance of Discipline When Investing The most important decision many investors face is the choice of long-term stock and bond allocation. There is no proven way to time the stock or bond market, and the cost of missing only a few days of the best market returns can be devastating to long-term returns. The...Read More

In early fall 2022, President Biden signed the Inflation Reduction Act of 2022, a sweeping piece of legislation that is designed to address some of the significant issues that the U.S. is facing. Some of those issues include the cost of prescription drugs, healthcare availability, climate change, and inflation. Proponents of the new law say...Read More

President Joe Biden originally announced a plan to forgive up to $20,000 in student loans, and an estimated 45% of borrowers would have had their federal student debt wiped out completely. As many as 40 million Americans could benefit from the forgiveness initiative, which would forgive On Thursday 11/10/22, a federal judge in Texas struck...Read More