Tax Tips, Insights & Resources

Stay informed with practical, easy-to-understand guidance from the RHL Accountants team. From tax laws and filing strategies to small business financial tips, this resource hub helps you make smarter decisions year-round. New articles are added regularly for individuals, families, and businesses across Chicago, the North Shore & Beyond.

As the year progresses, it becomes a valuable time for business owners to step back and re-evaluate their tax approach. A mid-year check-in allows you to make strategic adjustments long before...

Mid-Year Small Business Tax Strategies to Strengthen Your Finances

As the year progresses, it becomes a valuable time for business owners to step back and re-evaluate their tax approach. A mid-year check-in allows you to make strategic adjustments long before...
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Sending a child to college often brings a mix of excitement, planning, and financial questions—especially when it comes to taxes. From education credits to 529 plans, several rules can influence...

Tax Tips for Families With College Students in 2026

Sending a child to college often brings a mix of excitement, planning, and financial questions—especially when it comes to taxes. From education credits to 529 plans, several rules can influence...
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Preparing for tax season is much easier when you approach it gradually rather than rushing at the last minute. Building steady habits throughout the year helps reduce stress, keeps your financial...

Smart Steps You Can Take Now for a Smoother 2027 Tax Season

Preparing for tax season is much easier when you approach it gradually rather than rushing at the last minute. Building steady habits throughout the year helps reduce stress, keeps your financial...
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Business travel deductions can reduce tax liability when handled correctly, but the rules around what qualifies can be surprisingly detailed. Understanding how the IRS defines deductible travel...

Business Travel Tax Deductions: What Counts and What Doesn’t

Business travel deductions can reduce tax liability when handled correctly, but the rules around what qualifies can be surprisingly detailed. Understanding how the IRS defines deductible travel...
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A mid-year tax review is one of the simplest ways to stay ahead of changing income, new deductions, and shifting financial goals. Instead of waiting until filing season, checking in halfway through...

Why a Mid‑Year Tax Review Can Reshape Your Financial Year

A mid-year tax review is one of the simplest ways to stay ahead of changing income, new deductions, and shifting financial goals. Instead of waiting until filing season, checking in halfway through...
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Choosing the right business structure has lasting tax and financial implications, especially for owners who want to minimize taxes legally and plan for long-term growth. Your structure affects how...

Long-Term Tax Considerations When Choosing a Business Structure

Choosing the right business structure has lasting tax and financial implications, especially for owners who want to minimize taxes legally and plan for long-term growth. Your structure affects how...
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After filing your personal income tax returns, it’s natural to want a break from anything tax related. But the period immediately following tax season is one of the best times to get organized and...

Post‑Tax Season Steps to Stay Organized and Plan Ahead

After filing your personal income tax returns, it’s natural to want a break from anything tax related. But the period immediately following tax season is one of the best times to get organized and...
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The introduction of a federal tariff refund portal has created new opportunities for businesses seeking to recover previously paid import duties. While the program may appear straightforward at...

Understanding the Updated Tariff Refund Process for Businesses

The introduction of a federal tariff refund portal has created new opportunities for businesses seeking to recover previously paid import duties. While the program may appear straightforward at...
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Choosing how to classify the people who support your business is more important than many owners realize. Deciding whether someone should be treated as a W‑2 employee or a 1099 contractor affects...

W‑2 vs. 1099: Understanding Worker Classification and Why It Matters

Choosing how to classify the people who support your business is more important than many owners realize. Deciding whether someone should be treated as a W‑2 employee or a 1099 contractor affects...
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Running a business comes with enough challenges on its own, and paying more in taxes than necessary shouldn’t be one of them. While it’s easy to assume that valuable deductions are buried deep...

5 Everyday Documents That Could Reveal Hidden Tax Savings

Running a business comes with enough challenges on its own, and paying more in taxes than necessary shouldn’t be one of them. While it’s easy to assume that valuable deductions are buried deep...
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Feeling overwhelmed as tax season approaches is incredibly common. The forms, deadlines, and endless details can make the whole process feel intimidating. The good news is that you do not have to...

Your 30‑Day Guide to Stress‑Free Tax Preparation

Feeling overwhelmed as tax season approaches is incredibly common. The forms, deadlines, and endless details can make the whole process feel intimidating. The good news is that you do not have to...
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Quick Summary: If you receive an IRS letter, don’t panic. Read it carefully, gather your records, and connect with a qualified tax professional—ideally an Enrolled Agent and Certified Tax...

What To Do Within 72 Hours of Receiving an IRS Letter

Quick Summary: If you receive an IRS letter, don’t panic. Read it carefully, gather your records, and connect with a qualified tax professional—ideally an Enrolled Agent and Certified Tax...
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Quick Summary: Cash flow struggles, inaccurate books, pricing problems, and unexpected IRS notices are often early warning signs that a business needs better financial oversight. RHL Accountants in...

Early Signs Your Business Needs Stronger Accounting Oversight

Quick Summary: Cash flow struggles, inaccurate books, pricing problems, and unexpected IRS notices are often early warning signs that a business needs better financial oversight. RHL Accountants in...
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Quick Summary: Major life transitions—such as divorce, the death of a spouse, inheritance, relocation, or family changes—create immediate tax responsibilities. Update your filing status, adjust...

Immediate Tax Steps After Major Life Changes

Quick Summary: Major life transitions—such as divorce, the death of a spouse, inheritance, relocation, or family changes—create immediate tax responsibilities. Update your filing status, adjust...
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