Business Details
46 Years
experience
Your Trusted Partner for Accounting Solutions in Chicago
Since 1980, Jeffrey W. Krol & Associates has provided personalized financial guidance to individuals and businesses in Chicago and nationwide. Our expertise spans tax management, accounting services, audits, financial statements, and strategic planning. By combining deep technical knowledge with a client-focused approach, we deliver tailored solutions that address both immediate needs and long-term goals. Our team of seasoned professionals prioritizes open communication, ensuring clients receive the attention and analysis required to make informed financial decisions.With decades of experience navigating complex tax laws and financial regulations, we maintain high standards of excellence while adapting to evolving industry technologies. Our commitment to professionalism, responsiveness, and quality has earned us enduring trust within the business community, making us a reliable partner for clients seeking competent and timely advice.
Services
Personal Financial Planning
Retirement Planning
Small Business Accounting
Part-Time CFO Services
Forensic Accounting
Tax Preparation
QuickBooks Services
Business Valuation
IRS Representation
Internal Controls
Details
- Year established: 1980
Highlights and features
- We offer over 40 years of experience in accounting and tax services.
- Our team provides personalized financial strategies tailored to client needs.
- We deliver comprehensive services including forensic accounting and IRS representation.
- Our local expertise serves Chicago businesses and nationwide clients.
- We maintain high standards through continuous professional education and technology adoption.
Services
Personal Financial Planning
Our personal financial planning service helps individuals achieve long-term financial goals through customized strategies. We analyze assets, liabilities, and investment portfolios to create actionable plans for retirement, education savings, and wealth preservation. By integrating tax-efficient strategies, we help clients minimize liabilities while maximizing growth potential.
Small Business Accounting
We provide comprehensive accounting solutions for small businesses, including bookkeeping, financial reporting, and cash flow management. Our team helps establish robust accounting systems, prepare tax filings, and implement internal controls to prevent fraud. These services enable business owners to focus on operations while maintaining financial clarity.
Forensic Accounting
Our forensic accounting service investigates financial discrepancies and potential fraud through detailed record analysis. We identify irregularities in bookkeeping, quantify losses from embezzlement, and uncover hidden assets during divorce proceedings. This service includes developing preventive controls to protect businesses from future financial misconduct.
Tax Preparation
We offer complete tax preparation services for individuals and businesses, ensuring compliance with federal and state regulations. Our experts identify eligible deductions and credits to minimize tax liabilities. From standard filings to complex returns involving international assets, we provide accurate and timely submissions with year-round support.
IRS Representation
Our IRS representation service assists clients facing tax disputes, audits, or collection actions. We negotiate payment plans, resolve back taxes, and defend clients during audits. By leveraging our deep understanding of tax code, we develop strategies to reduce penalties and achieve favorable outcomes for individuals and businesses in crisis situations.
Questions
What accounting services do you offer for small businesses?
We provide bookkeeping, financial reporting, cash flow management, and internal control implementation for small businesses.
Do you handle both individual and business tax preparation?
Yes, we prepare tax returns for individuals, corporations, partnerships, and nonprofit organizations.
Can you help with IRS audit representation?
Yes, we provide full audit defense services and negotiate resolutions for tax disputes.
Do you offer financial planning for retirement?
Yes, we create customized retirement plans considering Social Security, investment strategies, and tax implications.
What is forensic accounting and when is it needed?
Forensic accounting investigates financial fraud, embezzlement, or discrepancies during divorce proceedings or business disputes.
Are your services available outside Chicago?
Yes, we serve clients nationwide while maintaining our Chicago-based office.
