Business Details
11 Years
experience
Your Trusted Partner for Tax & Accounting Solutions
Since 2015, Precision Tax & Accounting has provided comprehensive tax and accounting solutions tailored to both individual and corporate clients across Northern Illinois and Southern Wisconsin. Our team prioritizes personalized service, leveraging deep expertise to handle bookkeeping, payroll, tax planning, and audit representation while maximizing deductions and credits. We focus on minimizing tax liabilities through meticulous analysis of unique financial situations, offering cloud-based tools combined with one-on-one support. Our commitment to staying current with evolving tax laws ensures clients receive accurate, strategic advice. By maintaining transparency and prioritizing client needs, we aim to simplify complex financial processes and empower clients to focus on their core priorities.Our services span federal and state tax preparation, multi-jurisdictional filings, and specialized areas like healthcare marketplace benefits and stock option taxation. We serve as trusted advisors, guiding clients through tax planning for retirement, business entity selection, and payroll compliance. Our approach combines technical proficiency with accessible communication, ensuring clients understand their financial decisions. With a focus on accuracy and client satisfaction, we strive to build long-term relationships grounded in reliability and expertise.
Services
Tax Preparation
Payroll Services
Bookkeeping
Tax Consultation
Business Tax Services
Details
- Year established: 2015
Highlights and features
- We have specialized tax expertise since 2015.
- Our personalized service adapts to unique client needs.
- We maximize deductions through detailed tax law knowledge.
- We offer comprehensive cloud-based and in-person support.
- Our team serves Northern Illinois and Southern Wisconsin markets.
Services
Tax Preparation
We provide comprehensive tax preparation for individuals and businesses, ensuring compliance with federal and state regulations. Our experts handle multi-state returns, investment real estate, and stock sales while maximizing deductions. Clients benefit from cloud-based data exchange and personalized audit support.
Payroll Services
Our payroll solutions ensure compliance with tax laws and labor regulations. We manage employee classification, subcontractor reporting, and benefit administration. Businesses receive accurate payroll processing and strategic cash flow management to support growth and operational efficiency.
Bookkeeping
We maintain accurate financial records using best practices tailored to business needs. Services include QuickBooks setup, sales tax returns, and year-end reporting. Our systematic approach ensures financial clarity and supports informed decision-making for long-term business success.
Tax Consultation
Our consultation services focus on strategic tax planning for individuals and businesses. We analyze financial situations to identify deductions, credits, and compliance opportunities. Clients receive actionable recommendations to minimize liabilities and optimize financial outcomes.
Audit Representation
We provide expert representation during IRS or state audits, ensuring proper documentation and communication. Our team navigates complex audit processes to protect client interests while resolving tax disputes efficiently and maintaining compliance standards.
Questions
What's the difference between a CPA and an Enrolled Agent?
CPAs can specialize in multiple accounting areas, while Enrolled Agents focus specifically on taxation. Both maintain high ethical standards and represent taxpayers before the IRS.
How long should I keep tax records?
Keep records for 3 years from filing or 2 years from payment for standard returns. Retain records for 7 years for worthless securities or bad debt claims.
When did the IRS start accepting 2021 tax returns?
The IRS began processing 2021 returns on January 23, 2023, with a filing deadline of April 18, 2023, for most taxpayers.
How are service fees determined?
Fees depend on your tax situation complexity, including forms and schedules required. We ensure transparent pricing without overcharging.
