December 2021
Increase Coming for Illinois Minimum Wage
The minimum wage in Illinois is set to increase another dollar on Saturday, January 1, 2022. The new wage will be $12 an hour.

Governor JB Pritzker signed legislation in 2019 putting the state on the path to a $15 an hour minimum wage by 2025. There have been three increase since then.

In Chicago, the minimum wage is already $15 an hour for employers that have 21 or more employees. It’s $14 an hour for smaller businesses.

The new law maintains provisions for employers who count gratuities to offset wages for workers, such as food servers. Tipped employees may be paid 60 percent of the hourly minimum wage. However, these workers must still earn the minimum wage after receiving tips or the employer will be required to make up the difference.
Standard business mileage rate to go up in 2022
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will be 58.5 cents (up from 56 cents for 2021).

The increased tax deduction partly reflects the price of gasoline. On December 21, 2021, the national average price of a gallon of regular gas was $3.29, compared with $2.22 a year earlier, according to AAA Gas Prices.
Celebrating Our Staff
On Thursday, December 16, Helen Demsher was presented with the G.R.I.T. President's Award by Wheaton Chamber of Commerce President Vickie Austin.

This award is presented to an individual who helped support and shape the presidency of the Wheaton Chamber President.

"As treasurer and head of the finance committee for our board of directors, Helen is my trusted advisor. She helped us obtain our Paycheck Protection Program (PPP) funds and guides us through budget season and monthly meetings. She helps us stay on top of our debits and our credits as well as our organization’s P&L. Helen is the bee’s knees."
- Vickie Austin
Ron Austin, CPA
Brian Eisenmenger, CPA
Brian Hagene, CPA
Brett Mathieson, CPA
John Straus, CPA