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Illinois does not have an inheritance tax that heirs must pay. The state does have an estate tax on estates valued at $4 million and over, and this is paid by the estate. Illinois’ maximum margi...

This tool is freely available and is designed to help you accurately estimate your 2025 tax return. The 2025 tax rates and thresholds for both the Illinois State Tax Tables and Federal Tax Tables are ...

Qualifying deductions might include an itemized deduction, the Illinois standard deduction, exemptions for dependants, business expenses, etc. The difference between the exemption allowance and the st...

Illinois uses a flat tax system for income, meaning all taxpayers are taxed at the same 4.95% rate, regardless of income level. Once you’ve filed your tax return, all you have to do is wait for ...

Illinois provides a standard Personal Exemption tax deduction of $ 2,625.00 in 2025 per qualifying filer and qualifying dependent(s), this is used to reduce the amount of income that is subject to tax...

It helps you keep track of your expenses, ensures you’re not overspending, and, most importantly, allows you to focus on enjoying your journey. Technology costs are an increasingly important par...

When filing an income tax return in Illinois, taxpayers begin with their federal adjusted gross income (AGI, or taxable income, is income minus certain deductions). From there, certain items may be ad...

It spells out the nature of the services to be provided, the cost of such services, and how and when the lawyer will be paid. The payment part often involves a retainer fee, which is an upfront cost p...

Plus, investors can get more tax-free growth when the market bounces back. Unfortunately, Illinois has been sending out all the wrong signals. An advisory ballot proposition this Nov. 5 asked voters i...