IRS and Illinois Department of Revenue audits are becoming increasingly common for both businesses and individuals. The tax authorities are expanding efforts to audit taxpayers using a targeted method of return selection. Computers “score” tax returns and crosscheck information from various sources such as 1099’s and K-1’s; this allows the government to identify missing, inconsistent…Read more
Naperville CARES helps local families in financial crisis meet their essential needs by providing emergency financial support and resources.
Happy New Year! As we get into tax season, Klein Hall CPAs would like to remind you of several Affordable Care Act-related tax issues (ACA, also known as Obamacare). With this new Act your 2014 health coverage may affect your income taxes. Here are some useful tax reminders based on your health coverage in 2014.…Read more
One of the best features of QuickBooks is that it keeps track of the money coming in and out of your business in one place, no matter how many bank accounts or credit cards you have. It can connect to over 2,000 financial institutions to download and categorize your transactions for you. QuickBooks is easily adaptable…Read more
Everybody wants to save time and money. Here are some helpful year-end accounting tips that small businesses often forget: Keep business and personal activity separate. It’s always recommended to have bank accounts and credit cards strictly for business purposes only. Co-mingling business and personal funds will only delay the filing your tax return. Remember…Read more
Why do I have to issue a 1099-MISC? And to whom? Are you aware of form 1099-MISC? No? It’s not unusual for business owners to be surprised that they need to issue form 1099-MISC. Why, to whom, and when? Any penalties? We can help you with all your questions. Here is some basic information to…Read more
Undoubtedly, one of the trickier parts of choosing a CPA firm is whether to go with a larger or smaller firm. The benefits of smaller firms are many, here are a few that we feel are key: – Smaller firms will value you and your billings more than a larger firm. The sheer size of a…Read more
The end of the year will be upon us soon and now is the time to take advantage of some tax savings strategies before 2014 comes to a close. If you are looking to lower the amount of tax you owe this year, let me share a few tips about the most common ways individual…Read more
Klein Hall CPAs’ own Jessica Hall and Marty Morris are featured in the new “Inside the Chamber” interview currently airing on Naperville’s NCTV 17, Channel 17. The Naperville Chamber of Commerce, in partnership with Naperville Community Television, Channel 17, showcases area businesses in this informative series. Klein Hall from NCTV17 on Vimeo.