Chicago Accounting Articles

Small Business Unfiled Unpaid Payroll Tax Chicago Illinois

Updated July 28, 2015   Small Business Unfiled Unpaid Payroll Tax Chicago Illinois   One of the major reasons that small businesses close in the United States is the failure to file and pay payroll taxes.   This mistake is … Continue reading

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Small Business Sales Tax Audit Chicago Illinois

Updated July 28, 2015   Small Business Sales Tax Audit Chicago Illinois   Because of the cash that can be involved in your business, small businesses have always been a target for sales tax auditing.   As a top rated … Continue reading

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Small Business Offer And Compromise System Chicago Illinois

Updated July 28, 2015   Small Business Offer And Compromise System Chicago Illinois   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 Small Business … Continue reading

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Handling Small Business Penalties And Interest Chicago Illinois

Updated July 28, 2015   Handling Small Business Penalties And Interest Chicago Illinois   If you own a small business, penalties and interest can become expensive.   One of the most common problems presented to Public Accounting Firms in Chicago … Continue reading

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Small Business Sector Unfiled Income Tax and Compliance Issues Chicago Illinois

Updated July 28, 2015   Small Business Sector Unfiled Income Tax and Compliance Issues Chicago Illinois   Compliance in small business is essential.   Generally, one of the reasons why new clients would come to a recommended small business accounting … Continue reading

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Small Business Unfiled Unpaid Sales Tax Chicago Illinois

Updated July 28, 2015   Small Business Unfiled Unpaid Sales Tax Chicago Illinois   Sales tax problems in the small business sector seem to be increasing.   The economy is lousy, collections are worse than you have ever seen them, … Continue reading

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Small Business Income Tax Audit Chicago Illinois

Updated July 28, 2015   Small Business Income Tax Audit Chicago Illinois   It seems as if Federal and State Income Tax Audits of professionals involved in Small Business are on the rise.   Numbers published by the Internal Revenue … Continue reading

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Financial statements for a durable goods company Chicago Illinois

Updated July 24, 2015   Durable Goods Company Financial Statements Chicago Illinois   The main difference in these types of financial statements is inventory. The problem is generally a valuation issue.   If your in the business of selling used … Continue reading

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Tax In Chicago Illinois

Updated July 24, 2015   Tax In Chicago Illinois The City of Chicago imposes various taxes on business entities. A short list of the most relevant follows: Airport departure (8500) Amusement (7510) Cigarette (7506) Employer’s expense (7540) Foreign fire insurance … Continue reading

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