Subscribe to our newsletter for monthly tax tips:

Tax Planning

Schedule a Free Consultation Learn About Our Services

Insightful Chicago Tax Planning

tax planning in Chicago helping client with taxesAlthough no two successful companies are exactly alike, they all have one thing in common: calculated and strategic tax planning. Unfortunately, too many small business owners approach tax season with a reactive mindset instead of a proactive one, missing out on potential savings. Whether you've put off tax planning because of your busy schedule or are exploring the tax implications of a major transaction, D'Andrea & Associates, Ltd offers practical tax planning services in Chicago to help companies of all shapes and sizes flourish financially.

At D'Andrea & Associates, Ltd, we value the close relationships we have with our clients. From sole proprietors to c corps, we rise to the occasion when you're facing financial adversity. We can help you get back on track to reaching your goals through careful and insightful tax strategies, no matter what life throws at you.

Since 1995, we've had the privilege of serving companies in Chicago and its surrounding areas. Our team looks forward to meeting you and providing tax planning services you can depend on for years to come. Call our office today for your free initial consultation to determine if we're the right fit for you!

Call Us: (312) 341-9999 Book a Consultation

Realistic & Personal Tax Planning Assistance

Operating your company on a day-to-day basis is challenging enough without the added stress of taxes. Although you may prepare and file your taxes, looking ahead can seem overwhelming. Our team of Chicago tax planners understands how to optimize your taxes for short and long-term financial gain while allowing you to focus on what matters most: your company.

If you've ever done business with a big box tax firm, you know that they move quickly, and it can be easy to feel like you're just a number. Our team adjusts our services to match your needs, communication style, and comfort level. In addition, we take the time to break down complex tax concepts so that you're informed and up-to-speed every step of the way.

Helping Achieve Your Financial Goals

Are you planning on opening another location? Do you want to expand to a new market? Are you interested in merging with another company? Effective tax planning begins with a thorough understanding of your financial goals. We'll review your previous tax returns and current accounting processes to get a sense of how close you are to reaching them and what strategies could help you get there.

Our Communicative Approach to Chicago Tax Planning

At D'Andrea & Associates, Ltd, we take great pride in our level of communication with clients. When you call our office, you can expect a quick response paired with a helpful attitude. We'll keep in contact with you throughout the year to ensure you're never caught off guard during tax season.

We offer our tax planning services in person and over the phone to provide you with uninterrupted assistance. Whether you're working from your home office or out of state on business, we're always available to answer your questions and discuss ideas.

Working with Financial Advisors

Although tax planning and financial advisory services may seem similar, there are distinct differences that separate the two. Financial advisors help construct individualized financial plans, helping you achieve targeted goals through tools like budgeting and investment. Tax planners help you minimize the amount of money you pay in taxes during the current year and long-term through tax strategies. 

At D'Andrea & Associates, Ltd, we are happy to work with your financial advisor. We'll extend the same level of service and communication to them as we do to you. Some ways that tax planning and financial advising intersect include:

  • Investments: While your financial planner tracks how much your investments have gained or lost, we'll work with them to limit your tax liability through strategies, including tax-loss harvesting.
  • Charitable Contributions: Your financial advisor may recommend making charitable gift donations. We'll coordinate with them to ensure that contributions are made before the deadline to maximize your deduction.

In addition, if you do not have a financial advisor and are interested in finding one, we know several trusted and local financial advisors we can refer you to.

Valuable Tax Planning Strategies

Chicago business tax planner helping business owner with taxesOne of the essential aspects of tax planning is understanding tax laws and regulations. Our Chicago tax planners stay informed of the latest regulatory developments to keep your company ahead of the curve. When we sit down to develop strategies with you, we'll consider everything from tax law to your company's entity type to craft a plan that can help achieve your short- and long-term financial goals.

Some valuable strategies include:

  • Deferring Taxable Income: One potential strategy is deferring taxable income. If you've received payments for services that have not yet been delivered, you don't have to record the payment immediately. In that case, it will push your revenue into next year and reduce the amount of taxes you're obligated to pay.
  • Tax-Favored Employer Retirement Plans: You can reduce taxable income by investing in a 401(k) or profit-sharing plan for your employees. Certain tax credits are available for companies that invest in employee retirement plans.
  • Offer Employee Benefits: Not only are employee benefits excellent for attracting and retaining talent, but they can also provide you with valuable tax deductions. Company-sponsored health insurance, long-term disability, and childcare assistance plans come with tax deductions.
  • Consider Relocation: Although this isn't the right option for every company, relocating to a different city or state can lower your tax burden and save you critical dollars in the long term. For instance, states like South Dakota, Wyoming, and Nevada do not have individual or corporate income tax.

Your Trusted Tax Planners in Chicago

At D'Andrea & Associates, Ltd, we have spent decades helping businesses like yours achieve financial success through intelligent tax planning. Our Chicago accounting firm wants to do the same for you, and we are committed to lowering your tax liability while keeping an eye out for growth opportunities. Contact us today to schedule your free initial consultation!

Call Us: (312) 341-9999 Book a Consultation