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Tax School Blog

Welcome to the U of I Tax School blog – where you’ll find current, relevant, and actionable information for your practice (and have some fun doing it).

The U of I Tax School blog is written by tax professionals for tax professionals.

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Demolishing Farm Buildings and Structures – Any Tax Benefit?

Demolishing Farm Buildings and Structures – Any Tax Benefit?

Demolishing Farm Buildings and Structures – Any Tax Benefit? The acquisition of a farm or changes in the farming business may lead to the need demolish existing buildings and structures. …
Charitable Deductions for Trusts

Charitable Deductions for Trusts

Charitable Deductions for Trusts “I don’t always ask questions about trusts, but when I do, I ask the Tax School…” As promised when we presented our trust in-depth webinars in…
80 Years of Tax Continuing Education

80 Years of Tax Continuing Education

Cheers to 80 Years The year 2020 marked Tax School’s 80th anniversary. While it’s not entirely true to say that we’ve been providing tax continuing education all those years (we’ll…
Allowable Deductions for Trusts

Allowable Deductions for Trusts

Allowable Deductions for Trusts “I don’t always ask questions about trusts or estates, but when I do, I ask the Tax School…” We’re coming to you today as a follow…
New Form 941 Worksheet 1: A Step-by-Step Guide

New Form 941 Worksheet 1: A Step-by-Step Guide

New Form 941 Worksheet 1: A Step-by-Step Guide In last week’s blog post, Larry Gray discussed the newly released Form 941 Payroll Tax Form for 2020. In the below video,…
New Form 941 Requirements

New Form 941 Requirements

New Form 941 Requirements The IRS has released the new Form 941 Payroll Tax Form for 2020, which must be used beginning the second quarter of 2020. There are 18…