Avoid Becoming a Small Business Failure Statistic, Find a Mentor

Entrepreneurs start new companies with a vision, a dream, a business plan, and some capital. They take risks. They reap rewards, and too often they fail. The statistics for startups are grim—50 percent will fail after four years and 66 percent fail within 10 years. So how do small businesses increase their survival rates? Is…Read more

Adding Employees to Your Business

You’ve finally made the decision to hire an employee. Maybe it’s your first, or your 100th. Regardless, adding employees to your business can be both good and not-quite-bad, it just depends on your perspective. If the new employee is coming into your department and now you might—finally!—meet your goals, then that’s great. If you’re looking…Read more

Tax Credit Changes Affect Building Renovations

If you are planning a building renovation, or if you are starting a business and thinking of settling in a building that will need renovations, you might want to do some additional math and consider your move carefully. Why? The new Tax Cuts and Jobs Act (TCJA) has eliminated one tax credit and changed the…Read more

How a Business Can Benefit from Advisory Services

Chicago is known for its pizza, but the restaurants that serve it often have many other items to choose from and they can be even tastier than the headliner. Accounting firms may not come to mind for more than tax season, but they, too, are much more than they seem at first. Many think of…Read more

Klein Hall CPA Ranked No. 3,409 on Inc. 5000 List for 2018

Inc. Magazine Unveils Its 37th Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000 For the 2nd Time, Klein Hall CPAs Appears on the Inc. 5000, Ranking No. 3409 NEW YORK, August 15, 2018 – Inc. magazine today revealed that Klein Hall CPAs is No. 3409 on its 37th annual Inc. 5000, the most prestigious…Read more

Audit Season: What You Can Do to Stay Safe

Few things strike fear in the hearts of taxpayers like the risk of an audit. The threat of the IRS combing through assets and expenses to verify correctness can be anxiety-inducing, especially for those who aren’t fully confident in the accuracy of their tax prep skills. While some audits are random, most come from very specific errors…Read more

Small Business Tax Tips

When starting up a small business—whether it is ecommerce, service-based, freelancing, etc—what owners worry about more than almost anything is taxes. No one is an expert in all areas of a business, from accounting to sales, or HR to finance. It’s no secret that many small business owners are reluctant, even resistant, to hiring outside…Read more

My Spouse Didn’t Sign Our Tax Return—Now What?

You’ve just received a letter from the Internal Revenue Service (IRS) saying your joint tax return has been determined incomplete. Your spouse, it turns out, didn’t sign the form. What happens now? If you have a tax preparer who is also a CPA and an IRS enrolled agent, you may have some help clearing the…Read more

Preparing Your Business for Generation X

Some people truly hate change. Others embrace it. As the Baby Boomer generation gives way to the next group of leaders, business owners need to remember Generation X is next up to bat, not the Millennials. Embracing the swing in company leadership as the Boomers retire, means you need to take a close look at…Read more

CPA Services in Naperville

Whether you know it or not, there are plenty of business and accounting functions that go into your day to day life, both at work and at home. From balancing your checkbook and filing your taxes to working on the budget for your department, access to solid financial resources can make a world of difference.…Read more