Chicago Accounting News

One of the major reasons that Auto Repair Shops fail in the United States is the failure to file and pay payroll taxes. This mistake is more common than most would suspect. You have a weekly payroll, and weekly payroll … Continue reading →

One of the major reasons that Body Shops close in the United States is the failure to file and pay payroll taxes. This mistake is more common than most would suspect. You have a weekly payroll, and weekly payroll tax … Continue reading →

So what does one do if we owe a lot of tax, and simply can’t pay it? If you are a professional involved in the Auto Body Shop Industry of Chicagoland, then you probably make more money than the average … Continue reading →

If you have an Auto Repair business, then penalties and interest can be a difficulty. One of the most common problems presented to Public Accounting Firms in Chicago by newer customers is the issue of penalties and interest. the assessment … Continue reading →

If you own a body shop, penalties and interest can be a real difficulty. One of the most common problems presented to Public Accounting Firms in Chicago by newer customers is the issue of penalties and interest. the assessment of … Continue reading →

Compliance in the Auto Repair Industry is essential. Generally, one of the reasons why new clients would come to a recommended small business accounting firm like ours in Chicago, would be un-filed income tax returns and compliance issues. the problem … Continue reading →

Compliance in the Body Shop Business is essential. Generally, one of the reasons why new clients would come to a recommended small business accounting firm like ours in Chicago, would be un-filed income tax returns and compliance issues. the problem … Continue reading →

Sales tax problems in the auto repair industry seem to be increasing. The economy is lousy, collections are worse than you have ever seen them, and you have a sales tax problem. Your sales taxes were due by the twentieth … Continue reading →

Sales tax problems in the auto repair industry seem to be increasing. The economy is lousy, collections are worse than you have ever seen them, and you have a sales tax problem. Your sales taxes were due by the twentieth … Continue reading →

One of the most difficult parts of doing accounting for anyone in the auto repair industry of Chicago is determining an auditable number for inventory. A perfect example would be a carburetor for a 1971 Cadillac Deville. This part came … Continue reading →

Generally inventory is not a huge problem in the Auto Body Shop Industry of Chicago. Most people don’t maintain large inventories because they don’t actually know what to carry in the first place. If you are a general auto body … Continue reading →

Its is harder and harder to maintain profits in the Body Shop Business. Its very difficult to find parts. Even more difficult to find trained technicians who will actually fix cars rather than just run up you return percentages. When … Continue reading →

One of the most difficult items in handling accounting work for property landlords and developers is the consistent problem of what is a repair, and what is a capital improvement. From the standpoint of the landlord or developer, the problem … Continue reading →

It seems as if Federal and State Income Tax Audits of professionals involved in the Auto Body Shop Industry are on the rise. Numbers published by the Internal Revenue Service, showing the results of their enforcement activities, prove that not … Continue reading →

It seems as if Federal and State Income Tax Audits of professionals involved in the Auto Repair Industry are on the rise. Numbers published by the Internal Revenue Service, showing the results of their enforcement activities, prove that not only … Continue reading →

It seems as if Federal and State Income Tax Audits of professionals involved in the Auto Body Shop Industry are on the rise. Numbers published by the Internal Revenue Service, showing the results of their enforcement activities, prove that not … Continue reading →

Because of the cash that is involved in your business, the Auto Repair Industry of Chicago has always been a target for sales tax auditing. As a top rated accountant in Chicago, we are constantly being referred into Sales Tax … Continue reading →

Because of the cash that is involved in your business, the Body Shop Business of Chicago has always been a target for sales tax auditing. As a top rated accountant in Chicago, we are constantly being referred into Sales Tax … Continue reading →