Chicago Accounting Articles

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 Service, showing the...

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 more common than most would...

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...

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...