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3 Year-End Planning Steps to Trim Your 2025 Taxes
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
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Illinois Enacts Major Corporate Tax Changes in H.B. 2755 — Here’s What You Need to Know
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
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What is Tax Resolution Services?
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.
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Jodi Hoskins Honored as a Top Woman Leader in Equipment Finance
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.
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How Do I Open a Tax File?
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.
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Shari Lipski Named to Monitor’s 2025 Most Influential People
ECS Financial Services is proud to announce that Shari Lipski, Principal at ECS Financial Services, has been named one of Monitor’s 2025 Most Influential People in Equipment Finance. In the magazine’s annual recognition issue, Lipski was honored in the “Mentor Extraordinaire” category, celebrating her career-long commitment to developing new talent, championing women in the industry, and advancing professional standards in equipment finance.
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