FBP - Certified Public Accountants
Guide to Schedule E

Guide to Schedule E

Guide to Schedule E The following is a guide to the IRS Schedule E. This is used to report supplemental or passive income* or loss from: Real Estate Rentals Royalties Partnerships and S Corporations Estates and Trusts REMIC Profit and Loss There are limits on losses...
Guide to Deductible Business Expenses, Schedule C

Guide to Deductible Business Expenses, Schedule C

The following is a guide to allowable business expenses that can be deducted from your income taxes using Schedule C. If you have any questions about whether you are taking full advantage of these deductions, or need more information, please contact us.  ...
Employer Retention Credit What You Need To Know

Employer Retention Credit What You Need To Know

Employee Retention Credit can save companies a very substantial amount of money on their 2021 taxes. However, it is a complicated program and navigating it can be difficult. This blog is quite technical. If you have questions about the information, please contact us:...
FBPCPA Illinois Secure Choice

FBPCPA Illinois Secure Choice

Illinois Secure Choice Program and Its Implications for Businesses and Individuals   As a valued business client of Fates, Bodily & Parker, we wanted to make sure you are aware of the Illinois Secure Choice program and its implications for your business....
Taxes and Your Business Stimulus Funds

Taxes and Your Business Stimulus Funds

Millions of businesses have received Paycheck Protection Program (PPP) loans and COVID-19 Economic Injury Disaster Loans (EIDL) grants. As tax time nears, many of these businesses are wondering what receiving a PPP loan or EIDL grant means for their taxes.   The...