Eder, Casella & Co.

We heard the call from our friends at the Crystal Lake Food Pantry, so in typical Eder, Casella & Co. fashion, we made a competition out of it! During November, our staff was divided into teams to see who could collect the most items. The items that the food pantry urgently needed, like diapers & wipes, toiletries, and specialty diet foods, gained the team more points. By the month's end, we donated over 1,500 items to the pantry to support our neighbors in need! Thank you to our staff for rising to the occasion.

Illinois Minimum Wage 2023 Increase

We are in the final stretch of 2022. As we look towards the new year, we wanted to remind you of the next installment in the Illinois scheduled minimum wage increases to get the minimum wage to $15 by 2025. Complete requirements of the 2023 minimum wage, tipped wages, and youth workers here 👇
https://bit.ly/3OqOYBR

Illinois Minimum Wage 2023 Increase As we look towards 2023, we wanted to take a moment to remind you of the next installment in the Illinois scheduled minimum wage increases. It is important to know what these changes look like whether you are a business owner or an individual receiving minimum wage. January 1, 2023, triggers the nex...

Today and every day, we are thankful for our wonderful clients and exceptional staff. We are closed today and tomorrow to spend time with our friends and families. Happy Thanksgiving!

Is a Section 1031 Exchange Right For You?

In this economy, everyone is looking for ways to save money. Saving on taxes is no exception to this. One way to save today is to defer taxes to a future year. A method of this tax strategy is to defer taxes on capital gains through a like-kind exchange, also known as a 1031 exchange. Find out if this strategy will work for you. https://bit.ly/3XhENDN

Is a Section 1031 Exchange Right For You? In this economy, everyone is looking for ways to save money. Saving on taxes is no exception to this. One way to save today is to defer taxes to a future year. A method of this tax strategy is to defer taxes on capital gains through a like-kind exchange, also known as a 1031 exchange.

Today we are celebrating one of our partners. We have been honored to have Cheryden as part of our team for 20 years. Over the years, Cheryden has proven to be an irreplaceable member of our team. She is dedicated to growing those around her, helping our audit clients to be successful year after year, and an all-around great listener to our clients and staff. We are grateful you chose to be a part of Eder, Casella & Co. Thank you, Cheryden! Here's to many, many more.

To those who have served and continue to serve, thank you for your courage and dedication to our country. Happy Veterans Day!

Tax Gems Everyone Should Know

The tax code can be complicated, and we don't expect our clients to be experts. But here are a few tax gems everyone should know, including what isn't taxed, credits vs. deductions, potential marriage penalty, and more. https://bit.ly/3zDa35W

Tax Gems Everyone Should Know The tax code can be complicated and we don’t expect our clients to be experts. But here are a few tax gems that everyone should know. Not everything is taxed For instance, you can rent out your home for two weeks and pocket that income tax-free. Same with $250,000 (or

It's Election Day! Make sure to get out and make your vote count.

It takes the entire firm for a successful audit season. This week we took the day to celebrate everyone's hard work from a suite at the Chicago Wolves game. What a great way to reconnect as a team. And our team is growing! Check out our open positions so you can be with us next time. https://bit.ly/3leXcR0

Don't forget to stop by McHenry East High School this Sunday from noon - 3 pm for an early Halloween Trunk or Treat with our partners at Eder Casella Technology and 25 other local businesses!

McHenry County College Job and Internship Fair scheduled for next week

Calling at McHenry County College students! Will you be at the Job and Internship Fair this Thursday? Be sure to stop by our booth (#2!) to apply for the current full-time and internship openings at Eder, Casella & Co. Plus, we'll have some fun giveaways, too!

Not registered yet? You can sign up for your spot here: https://www.mchenry.edu/jobfair/index.html

McHenry County College Job and Internship Fair scheduled for next week More than 85 area companies will be on-site for McHenry County College’s Job and Internship Fair next week.

Identifying Tax Scams

Our partners over at Eder Casella Technology are celebrating Cybersecurity Awareness Month all through October. And that got us thinking about tax scams and how thieves can target you with their schemes. Unfortunately, new tax scams crop up every day! So we're looking at how to identify the cons before they get to you, your identity, or your money. https://bit.ly/3E5VXNk

Identifying Tax Scams New tax scams crop up every day. So why not take a different approach by educating yourself on how to identify them before they get to you, your identity, or your money? Here are tips everyone should know. While anyone can be a target of scammers, thieves usually target

It's no secret that our team loves a good competition. And we look forward to this event every year. An afternoon off with our staff and their families for a friendly round of golf. Complete with fun games, including bubble tape, a kid's putter, and throwing a ball (or two!).

Want in on the game next year? Join our team! We have current openings for full-time accountants. https://bit.ly/3leXcR0

Electric Vehicle Rebates & Credits

Considering purchasing an electric vehicle? In addition to the federal tax credit for buying an electric car, you can now get a rebate from Illinois, too. But, of course, there are specific requirements for both. And it's important to note that while the federal tax credit was recently extended with the Inflation Reduction Act, it also included updates to the eligibility for both the purchaser and the manufacturer. So when is the right time to buy, and how do you know if you qualify? We have you covered with all of the details. https://bit.ly/3BuL6cK

Electric Vehicle Rebates & Credits Are you considering an electric vehicle? There are a lot of factors to weigh when making a large purchase, like a vehicle. For example, you may consider the overall purchase price, safety ratings, features, and even possible rebates. It is nothing new that the federal government has been offering re...

Calling all Accounting students studying at Illinois Wesleyan University, Augustana College - Illinois, North Central College, and Carthage College! Will you be at the Chicago Area Accounting & Finance Career Fair? We'll be there conducting interviews for our full-time and intern positions. Be sure to stop by our booth. Besides great job opportunities, we'll also have sweet treats and swag. See you there! https://bit.ly/3leXcR0

Illinois Tax Rebates

As part of the Illinois Family Relief Plan, some Illinois taxpayers may be eligible to receive two new tax rebates. These are two separate rebates with varying qualifications. And the Illinois Department of Revenue expects to begin sending these rebates to taxpayers as early as this week. Here, we've broken down the details, qualifications, and how you'll receive these rebates. https://bit.ly/3RZY6h5

Illinois Tax Rebates As part of the Illinois Family Relief Plan, some Illinois taxpayers may be eligible to receive one-time individual income tax and property tax rebates. These are two separate rebates with separate qualifications. Individual Income Tax Rebate This rebate is $50 for single ($100 for married) taxpayers...

We're here! Visit our booth at the Illinois State University Business ISU Accounting Career Fair. We have full-time & intern positions available. Plus, grab a sweet treat or a ring light. We'll be here until 1:00 pm! https://bit.ly/3leXcR0

Did you know it’s National Salami Day? Today we enjoyed these fun bouquets full of salami (and other treats!) from Fork it Grazing during our all firm meeting. Any reason to celebrate our staff.

In celebration of Labor Day and to thank our hard working employees, our offices will be closed today. In the words of our Managing Partner, we are "so grateful and humbled that you all choose to work with us." Happy Labor Day!

Calling all Illinois State University students! Stop by our booth next Friday at the Business ISU Accounting Career Fair. We'll be there talking about our current full-time and intern opportunities. As well as giving away some fun gifts and sweet treats. Will you be there, too? We'd love to talk to you about what makes Eder, Casella & Co. different from other firms. https://bit.ly/3leXcR0

Inflation Reduction Act

By now, you have probably heard about the Inflation Reduction Act signed into law by President Biden. This act brought many changes and updates to existing laws. But, we're looking specifically at the parts of the law that may impact your tax situation. https://bit.ly/3TvkOzy

Inflation Reduction Act The Inflation Reduction Act 2022 (H.R. 5376) was officially signed into law by President Biden. This new law brought many changes and updates to existing laws. We're taking a look at the parts of the law that may impact your tax situation, including: Updates to the federal credit for energy-efficien...

Are you an experienced IT professional looking to make a change to an established IT Services Firm that allows you to grow with your passions? Or someone looking to break into the IT field? Our partners at Eder Casella Technology are expanding their team! Check out their open position and learn more about how ECT supports your career ambitions. https://edercasellait.com/careers/

We aren't your typical IT company. While we specialize in a host of IT services and solutions, we also take pride in getting to know our client's business and needs. We believe that IT isn't a one size fits all product. That same belief goes for our team. We aim to tap into YOUR talents and passions to determine the best fit for you. Whether you're experienced or looking to break into the IT field, we'd love to learn about you and what you could bring to our team. https://bit.ly/3Kfj4oD

Thank you. That's what we have found ourselves saying a lot this summer. Thank you to our interns for joining us these past couple of months. Thank you to our staff for their continued dedication to our clients and the firm. And to show our thanks, we showered them with some summer-inspired gifts at our most recent all-firm meeting. Plus, treated everyone to fun & games to celebrate!

We value our relationships with every one of our staff members and want them to know how much we appreciate them. If this sounds like the type of firm you want to work for, we have immediate openings. We'd love to hear from you! https://bit.ly/3leXcR0

Illinois Tax Policy Changes

The sales tax holiday on school supplies and clothing starts tomorrow in Illinois. Full details on the reduced tax rate, what's included, and maximum value. What will you be shopping for during the tax holiday? https://bit.ly/3ub5mgI

Illinois Tax Policy Changes Illinois announced a couple of new state tax policies starting this summer to give temporary relief to consumers. For business owners, this means altering the tax charged for certain products. And for shoppers, this means paying less tax during certain periods on specific products. So let's dive int...

Today we are celebrating our hardworking summer interns. We have enjoyed watching you all learn and grow over these past couple of months. Thank you for immersing yourself into our team. Happy National Interns Day!

Last week we cut out a little early to spend time at the The Quarry Cable Park with our summer interns and new hires. It was a beautiful afternoon to wakeboard, play sand volleyball, and enjoy time together outside of work. Want to join in on the fun? We're hiring! https://bit.ly/3leXcR0

City of Chicago Minimum Wage Increase

Effective last week, the City of Chicago officially raised its minimum wage. The wages depend on the size of the business and whether the position is a tipped employee. So if you own a business or work in Chicago, we've got you covered. Here is a breakdown of the new wages by the number of employees and job type. https://bit.ly/3yKTO6B

City of Chicago Minimum Wage Increase Effective July 1, 2022, the City of Chicago raised the minimum wage for all employers within the city limits. These new rates depend on the size of the business and whether the position is a tipped employee. The new wages are as follows: Employers with 21 or more workers: Minimum Wage: $15.40 per

In celebration of Independence Day, our offices will be closed today. Wishing you and your family a very Happy 4th of July! 🎆

Illinois Tax Policy Changes

Temporary tax relief is coming to Illinois shoppers. The Illinois Department of Revenue announced a Grocery Tax Suspension that will run for a year, giving shoppers savings at the checkout. Additionally, a Sales Tax Holiday in August reduces the state tax on qualifying clothing and school supplies. We have all of the details on what is included and when to shop to see these savings. https://bit.ly/3ub5mgI

Illinois Tax Policy Changes Illinois announced a couple of new state tax policies starting this summer to give temporary relief to consumers. For business owners, this means altering the tax charged for certain products. And for shoppers, this means paying less tax during certain periods on specific products. So let's dive int...

Capital Gains Tax on Home Sale

Over the past couple of years, home prices in the US have continued to climb. This has meant that some sellers have experienced a larger than expected profit when selling their homes, which is great news! But what does that mean for your taxes? Here's what you need to know to be prepared. https://bit.ly/3bl05wL

Capital Gains Tax on Home Sale Over the past couple of years, home prices in the US have continued to climb. This has meant that some sellers have experienced a larger than expected profit when selling their homes, which is great news! But what does that mean for your taxes? Your home is considered a capital asset. Therefore, as....

2022 Business Tax Highlights

Will they or won’t they? That’s the key question on every business’s mind. Recent history suggests Congress will pass sweeping legislation late in the tax year and have the IRS plus every small business scrambling to make sense of it. But for right now, we are recapping the current changes that businesses need to consider. https://bit.ly/3apQ1lp

2022 Business Tax Highlights Will they or won't they? That's the key question on every business's mind. Recent history suggests Congress will pass sweeping legislation late in the tax year and have the IRS plus every small business scrambling to make sense of it. But for right now, it looks like your business can focus on the f...

Last week we were excited to welcome both our summer interns and new hires! They have all hit the ground running, soaking up the Eder, Casella & Co. culture and working hard for our clients. Welcome to the team!

Want to join our team, too? We have immediate openings for an Administrative Assistant and additional Staff Accountants. Apply today! https://bit.ly/3leXcR0

43,000 pints. The amount of donated blood used each day to save lives in the US! Don't forget to stop by the Eder, Casella & Co. McHenry office tomorrow from 11:30 am - 3:30 pm for our Blood Drive! All donors will receive a free bluetooth speaker from Versiti Blood Center of Illinois. Plus, if you're an O negative blood donor, you'll also receive a $20 e-gift card! There are still appointment spots available. See you tomorrow! https://bit.ly/3wMH3aV

Today, we all remember those who made the ultimate sacrifice to protect our freedoms. Happy Memorial Day!

Ransomware Awareness for Holidays & Weekends

Our friends over at Eder Casella Technology share a few quick steps we should all take before heading out of the office for the long weekend. Worth the quick read to protect yourself against cybercriminals!

Ransomware Awareness for Holidays & Weekends Did you know that more ransomware attacks occur over holiday weekends? Generally, cybercriminals tend to target attacks over weekends, but they especially like holiday weekends. Most cyber security companies believe that attacks occur over holiday weekends because employees are away from the office....

Every two seconds, someone in the US needs blood. That's over 43,000 people in need each day! Eder, Casella & Co. is proud to be hosting another blood drive with Versiti Blood Center of Illinois next Wednesday, June 1st, at our McHenry office. Grab an appointment time that works best for you between 11:30 am - 3:30 pm. Walk-ins are welcome, too! All donors will receive a free Bluetooth speaker as a thank you. See you there! https://bit.ly/3wMH3aV

Gifts in Kind Standard

For most not-for-profits to be successful, they must rely heavily on donations. Typically these donations are in the form of both financial and nonfinancial assets. If you work for an NFP, this is not new news. However, what is new is how these nonfinancial assets, or gifts-in-kind, are presented. Our resident NFP expert, Michelle Vicencio, CPA, shares the new standards and how to implement them. https://bit.ly/37EaaTM

Gifts in Kind Standard For most not-for-profits (NFP) to be successful, they must rely heavily on donations. Typically these donations are in the form of both financial and nonfinancial assets. If you work for an NFP, this is not new news. However, what is new is how these nonfinancial assets, or gifts-in-kind, are presen...

We kicked off the weekend a little early on Friday and celebrated the end of another tax season! We had a beautiful day unwinding at Topgolf with the entire firm. A fun way to thank our hardworking staff!

Want to join in the fun? We have openings for an Administrative Assistant and Staff Accountant. Apply today! https://bit.ly/3leXcR0