ECS ARTICLES & NEWS

The One Big Beautiful Bill Act (OBBBA) reshapes many traditional tax strategies and introduces new opportunities for businesses to reduce 2025 federal taxes. Here are the most impactful areas to review before year-end. 1. Capital Asset Investments Year-end asset purchases remain one of the strongest tax-reduction tools—and the OBBBA makes them even better for 2025. 100% Bonus Depreciation Restored: Assets acquired and placed in service after January 19, 2025 qualify for perma

With major changes from the One Big Beautiful Bill Act (OBBBA) taking effect, now is the time to review strategies that may reduce your 2025 tax liability. 1. Reevaluate the Standard Deduction For 2025, the standard deduction increases to: $15,750 (Single/MFS) $23,625 (Head of Household) $31,500 (Married Filing Jointly) Add-ons apply for taxpayers 65+ or blind. However, expanded deductions—especially the SALT deduction—may make itemizing more beneficial again. You may want

On June 16, 2025, Illinois enacted H.B. 2755, a sweeping tax bill that introduces significant changes impacting corporate taxpayers, pass-through entities, and manufacturers operating in the state. Below is a summary of the most notable provisions you should be aware of: Beginning with tax years ending on or after Dec. 31, 2025, Illinois will allow a 50% deduction for GILTI (Global Intangible Low-Taxed Income).This replaces the prior 100% dividend-received deduction (DRD) for

Struggling with unpaid taxes, IRS notices, or penalties? Discover how tax resolution services can help you resolve tax issues, avoid costly mistakes, and regain peace of mind.

ECS Financial Services is proud to announce that Jodi L. Hoskins, Partner at ECS Financial Services, has been named one of the Top 50 Women Leaders in Equipment Finance 2025.

A tax file is a document that holds information about your income, expenses, and taxes. It can be something you download from a government website, get from your accountant, or create using tax software.