Frequently Asked Questions

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Tax preparation (individual & business), audit representation, tax planning, business formation, CPA services, insurance consulting, and more.

You need to bring in all W2s from every place you worked at during the year, statements from any source of income received, information for any dependents you are filing, statements from any mortgages, tuition statements, etc.

You will need to bring in records showing income received, receipts for your expenses as well as any of the above information that applies to you. Refer to the sheets below for assistance.

The IRS is currently experiencing significant processing delays, and refunds are taking longer than usual. While most electronically filed returns are still processed within 21 days, some may take several weeks due to backlogs, additional verification, or manual reviews. You can check your refund status anytime using the IRS “Where’s My Refund?” tool.

No. Per IRS regulations, you may not file your taxes with the last check stub. Because of pre-tax benefits and other deductions, wages on the last check stub can differ from wages reported on the W2.

You cannot bring extra people with you to your appointment. An appointment needs to be made for every person wanting their taxes prepared. People without an appointment will not be serviced. Please arrive to your appointments on time.

You sometimes may benefit from filing separately instead of jointly. Consider filing separately if one spouse has large medical expenses, miscellaneous itemized deductions, or casualty losses, and the spouses’ incomes are about equal.

Medical and dental expenses are deductible only to the extent they exceed a percentage of your Adjusted Gross Income. Many people cannot take advantage of them, but if your employer offers an FSA, HSA, or cafeteria plan, you can redirect part of your salary to pay these expenses with pre-tax dollars.

If you’re planning to make a charitable gift, it often makes more sense to give appreciated long-term capital assets rather than cash. This avoids capital gains tax and provides a deduction for the full fair market value of the property.

If you also have an investment with an accumulated loss, it may be advantageous to sell it before year-end. Capital losses are deductible up to your capital gains plus $3,000. Selling a gain investment after the year ends may defer taxes for another year.

For long-term growth stocks, you pay no tax on appreciation until sale, and none at death. Interest on municipal bonds is generally exempt from federal and state tax. For high-income taxpayers, Treasury investments may also save on state and local taxes.

Consider setting up and contributing as much as possible to a retirement plan such as a Keogh plan, SEP, or SIMPLE. These options allow self-employed individuals to save taxes while building retirement funds.

Through tax-deferred retirement accounts, you can invest money you would otherwise pay in taxes. Employer-sponsored 401(k) or 403(b) plans often include matching contributions, so structure your deferrals to receive the full match.

If you are due a year-end bonus, you may be able to defer it until January. Self-employed individuals can delay invoicing until the new year. Similarly, you can accelerate deductions, such as paying a state tax installment in December instead of January.

Most individuals are in a higher tax bracket during their working years than in retirement. Deferring income can lower your tax rate in the future and may also allow you to benefit from long-term capital gains treatment by holding assets longer.

Yes. We offer secure online tax preparation through our Client Portal. You can upload your documents and communicate with our preparers without visiting the office.

Absolutely. Our CPAs can review your previous tax filings and submit amendments if errors or missed deductions are found.

Contact us immediately. Our team provides professional IRS representation and can handle all communications on your behalf to resolve issues quickly.

Yes. We offer bookkeeping, payroll management, and financial reporting services for small and medium-sized businesses.

Yes. We can recommend and help implement software like QuickBooks, Xero, or Wave based on your business size and goals.

We provide guidance on health, life, property, casualty, and liability insurance to ensure your personal and business assets are fully protected.

Yes. We help clients plan for retirement, manage investments, and reduce tax exposure through diversified strategies.

You can schedule online via our website or by calling our office. Appointments are required for in-person consultations during tax season.

Please notify us at least 24 hours in advance if you need to reschedule or cancel. Missed appointments without notice may incur a service fee.

Our pricing varies based on the complexity of your tax situation and the services you need. We offer competitive rates and provide transparent pricing before beginning any work. Contact us for a free consultation and quote.

We accept cash, checks, credit cards, and bank transfers. Payment plans may be available for larger engagements. Please discuss payment options with us when scheduling your appointment.

Our office is open Monday through Friday from 8:00 AM to 5:00 PM. During tax season (January through April), we may have extended hours. We are closed on weekends and major holidays.

Yes. We assist with forming sole proprietorships, partnerships, LLCs, S-Corporations, and C-Corporations. We can help you choose the right entity type for your business and handle all necessary filings with the state.

Absolutely. We provide expert assistance with property tax assessment reviews, appeal filings, and representation throughout the appeals process in Chicago and surrounding areas.

Yes. We assist with 501(c)(3) applications, state registrations, incorporation, and ongoing compliance for non-profit organizations.

During your first appointment, we'll review your financial situation, discuss your goals, and determine the best services for your needs. Bring any relevant documents, and we'll explain our process and answer any questions you have.

We strive to respond to all inquiries within 24 hours during business days. During tax season, response times may vary, but we prioritize urgent matters and client communications.

Yes. We can prepare and file tax returns for multiple states if you have income or business activities in different states. This is common for remote workers, business owners, and those who have moved during the year.

Estimated tax payments are quarterly payments made throughout the year if you expect to owe more than $1,000 in taxes. Self-employed individuals, business owners, and those with significant investment income typically need to make estimated payments to avoid penalties.

Yes. If you need more time to file your tax return, we can help you file Form 4868 for an automatic 6-month extension. Note that an extension to file is not an extension to pay any taxes owed.

Common business deductions include office expenses, travel, meals (subject to limitations), vehicle expenses, equipment, professional services, insurance, and more. The specific deductions depend on your business type and structure. We can help identify all eligible deductions.

Yes, if you use part of your home exclusively and regularly for business purposes. The home office deduction can be calculated using the simplified method or actual expenses. We can help determine which method is most beneficial for your situation.

Business mileage can be deducted at the standard IRS rate (which changes annually) or using actual expenses. Keep detailed records of business trips, including date, destination, purpose, and miles driven.

The best entity type depends on your business goals, income level, number of owners, liability concerns, and tax situation. We can analyze your specific circumstances and recommend the most advantageous structure for your business.

Ideally, start tax planning in the fall (October-November) to take advantage of strategies before year-end. However, we can help with tax planning year-round to maximize your savings and minimize your tax liability.

We retain client records for up to 7 years to meet tax and compliance requirements. You should also keep copies of your tax returns and supporting documents for at least 3-7 years, depending on the type of document.

Yes. We electronically file (e-file) all tax returns when possible, which is faster and more secure than paper filing. E-filing typically results in faster refunds and immediate confirmation of receipt by the IRS.

We offer personalized service, decades of experience, and a comprehensive range of financial services all under one roof. Our team of CPAs and tax experts provides tailored solutions, and we're committed to building long-term relationships with our clients.

Absolutely. We use encryption, secure storage, access controls, and follow strict privacy protocols to protect your information. We never sell or share your data with third parties for marketing purposes. See our Privacy Policy for more details.

Yes. We specialize in serving small and medium-sized businesses with bookkeeping, payroll, tax preparation, business formation, financial planning, and ongoing consulting services tailored to your business needs.

Yes. We can help you get caught up on unfiled returns. It's important to address this as soon as possible to minimize penalties and interest. We'll work with you to file all necessary returns and resolve any outstanding issues with the IRS.

If you can't pay your full tax bill, contact us immediately. We can help you explore options such as payment plans, offers in compromise, or other IRS programs. It's important to file your return on time even if you can't pay, to avoid additional penalties.