Chicago Accounting News

It seems as if Federal and State Income Tax Audits of professionals involved in the Import / Export 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 can be involved in distribution, the Import / Export 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 … 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 Import / Export Industry of Chicagoland, then you probably make more money than the average … Continue reading →

If you own an import / export business, penalties and interest can become 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 →

Compliance in the Import / Export 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 … Continue reading →

Sales tax problems in the import / export 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 … Continue reading →

One of the issues that we deal with in Import / Export Accounting is when does a shipment of inventory actually become our property? Is it ours when they put the container on the ship in China, or is it … Continue reading →

One of the major reasons that Import / Export Businesses 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 … Continue reading →