Your Diligent Chicago Tax Preparers
When you partner with D'Andrea & Associates, Ltd, our skilled team of Chicago tax preparers is in your corner year-round to help you optimize your company's operations and save money. From the moment you choose our team, we dedicate our full attention, experience, and resources to your case. We're intimately familiar with the needs of our community's small-to-midsize companies and are happy to handle the personal tax returns of business owners as well.
Since 1995, our team has proudly supported the entrepreneurs and industries of downtown Chicago, The Loop, and the surrounding communities. To provide an optimal experience, we offer our selection of tax and accounting services in English, Polish, and Spanish. We're happy to meet at our office, at your place of employment, or over coffee at the local café. You'll find our team to be strategic, hardworking, and proactive in our approach. We look forward to exploring your financial goals and needs in further detail, so give our firm a call today to schedule your free initial consultation!
Why Should Your Business Prioritize Tax Preparation?
Efficient tax preparation can save you and your company a considerable amount of money. As the owner of a small-to-midsize business, it may quickly become difficult to decipher your exact tax obligations.
Our primary objective is to simplify the tax preparation process, so you feel confident submitting your return. We constantly act in your best interests by uncovering all eligible tax breaks and deductibles so your hard-earned revenue is protected. Given the frequent changes to IRS tax regulations, it's easy to miss a limited-time tax deduction. Our team stays aware of evolving tax codes, so we can help you enjoy a substantive business experience.
You can count on our meticulous Chicago tax preparers to provide year-round oversight to keep you on track for financial success. We work diligently to exceed your expectations and make the upcoming tax season as stress-free and simple as possible.
Our Detailed Tax Preparation Process
Your tax situation is unique, and we're committed to achieving accurate filing for your business. Our Chicago tax preparers provide the tools and materials you need to confidently submit your return. In the early stages of the process, we provide an organizer that details all of the documentation and data we require. As soon as we have your information, we review your financial figures and previous tax returns. Doing so allows us to develop a complete understanding of your situation. Sometimes, we may discover unclaimed tax deductions in your previous tax returns and can help you file an amended document.
Next, we'll carefully check your books to verify that your figures are correct. By confirming that the data is accurate, we help you meet your tax obligations without over- or underpaying. We note and correct any errors we detect to avoid fines or future back taxes. Our team carries out reporting efficiently using the most advanced accounting technologies and tools, and we keep you aware of our progress. If you have any questions during the process, we're just a phone call away and are happy to promptly address your concerns!
Is My Company Structured Correctly?
Your company's entity selection helps determine your tax liabilities, so it's crucial to select a structure that aligns with your operating methods and financial goals. You can choose to set up either a pass-through tax entity or C-corporation. Pass-through tax entities include sole proprietorships, partnerships, S-corporations, and limited liability companies (LLCs).
A pass-through tax entity avoids double taxation, passes all financial obligations onto individual owners, and allows you to deduct operating losses from your personal taxes. It's important to remember that your personal and business taxes will be combined if you decide to structure your business in such a format.
Should you prefer to launch a C-corporation, you'll enjoy more flexibility in shifting income by determining your fiscal year. You can decide when to take losses or pay taxes on bonuses to reduce your tax liabilities. The business may also qualify for many deductions, from medical premiums to charitable contributions. C-corporations have fewer operating restrictions than S-corporations, and you may find it easier to source funding and take your business public in the long run.
If you're uncertain which entity best represents your objectives, our Chicago tax preparers can help you make an informed decision that prioritizes your financial health.
Reliable Chicago Tax Preparation Services
We understand that the tax season can be a stressful and challenging time for you. Our team works diligently to get your return completed properly and protect your money. We look forward to partnering with you, so call D'Andrea & Associates, Ltd today to schedule your free initial consultation!