Mowery & Schoenfeld, LLC

02/21/2024

As tax return filing season approaches, it's crucial to make sure you're leveraging every available opportunity to optimize your tax position. One often-overlooked avenue for potential savings is the Foreign-Derived Intangible Income (FDII) deduction.

If your business involves export sales or services to related or unrelated parties, the FDII provides a significant tax incentive for income derived from such activities, allowing for substantial deductions and ultimately reducing your tax liability.

Don't miss out on this opportunity to optimize your tax position and enhance your competitiveness in the global market. Reach out to Mowery & Schoenfeld today to discuss how FDII could benefit your business.

02/08/2024

"We are thrilled to welcome the talented team at Hochfelder & Weber into the Mowery & Schoenfeld family,” said Jeffery Mowery, Managing Partner at Mowery & Schoenfeld. “This acquisition marks a significant milestone in our growth strategy and underscores our commitment to delivering unparalleled service to our clients."

Read more here: https://hubs.ly/Q02kpCK60

01/29/2024

Mowery & Schoenfeld will be attending the Gies Employer Showcase and the Gies Business Fair this week at UIUC! 🎓✨ We're looking forward to engaging with students and showcasing why Mowery & Schoenfeld was named the 2023 Best Firm for Young Accountants by Accounting Today.

📅 Gies Employer Showcase: 1/31/24 (In-person event)
📅 Gies Business Fair: 2/1/24 (Virtual event)

01/25/2024

Getting ready for tax season? Our latest article breaks down essential steps to ensure a smooth tax preparation process at Mowery & Schoenfeld. From organizing documents to knowing which life changes are worth noting, we've got you covered. Read more:

As you begin to compile your information for the 2023 tax filing season, consider some of the following steps you can take to ensure your tax return and refund don’t face delays.

12/19/2023

In the latest update to the FinCEN reporting requirements, the Treasury Department extended the deadline for companies created or registered in 2024 to file their initial beneficial ownership information reports. With the most recent amendment, the reporting deadline for companies created or registered in 2024 is extended to 90 days from the receipt of public notice of their registration instead of the 30 days initially proposed.

This new ruling will go into effect on January 1, 2024. If you would like to understand more about this new reporting or its qualifications, or if you’d like to inquire about possible exemptions, contact us today. As with any new ruling, we encourage you to reach out to your tax advisor with any questions or concerns you may have.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) finalized a rule last month to extend the deadline for companies created or registered in 2024 to file their initial beneficial…

11/09/2023

The Titan 100 is a national program that recognizes the top 100 CEO's and C-level executives. This year, we are proud to announce Managing Partner Jeff Mowery's inclusion on the Chicago list! Mowery & Schoenfeld is so proud to see Jeff recognized among an incredible group of industry leaders and visionaries.

05/09/2023

Mowery & Schoenfeld has been named to Inc.’s 2023 Best Workplaces list (Midwest Region). Featured in the May/June 2023 issue, the list is the result of a comprehensive measurement of American companies that have excelled in creating exceptional workplaces and company culture.

https://www.inc.com/best-workplaces/2023

05/06/2023

Our GGI pre-conference group has landed in Cologne.

05/03/2023

We're so proud to announce the following employees have been recognized in The 21st Annual American Business Awards:

Jeffery L. Mowery, Managing Partner and Founder
Lifetime Achievement Award - Business Services Industries
Silver Stevie Winner

Michelle Haines, Assurance Partner
Woman of the Year - Business Services Industries
Bronze Stevie Winner

Additionally, our charity initiative M&S Cares was recognized as a Silver Stevie Winner for the Corporate Social Responsibility Program of the Year.

04/18/2023

Happy Tax Day!

First, we would like to thank our clients. Whether you've been with us for years or are brand new to our Firm, we appreciate your support!

To our incredible team throughout the Firm, we want to express our sincere appreciation for your hard work and commitment to excellence. Your dedication to providing exceptional service to our clients is what sets us apart and makes us proud to be a part of Mowery & Schoenfeld.

And a special thank you to the families of our staff, for all of their patience and kindness during a stressful few months.

03/21/2023

In 2022, we conducted the inaugural Lower Middle-Marketing Working Capital Survey Report. Our goal was to understand how sell-side advisors approach working capital in their transactions to gain insight into diversity in viewpoints and offer suggestions on the treatment of net working capital.

Read more about our findings here:

w.msllc.com/insights/blog/understanding-net-working-capital-vital-smooth-transition/

02/23/2023

The SECURE Act 2.0 contains over 90 provisions, some broad and sweeping, while others only affect a small group of plans and their participants. On our blog, Assurance Partner Tim Long dives into how these provisions will affect your employee benefit plan.

https://www.msllc.com/insights/blog/how-secure-act-20-affects-your-employee-benefit-plan/