The IRS has provided an official list of population census tracts designated as Qualified Opportunity Zones (QOZs), that now includes two additional census tracts in Puerto Rico. The chief executive o...
The IRS has published inflation adjustment factor and reference prices for determining the availability of the credit for renewable electricity production and refined coal production for calendar year...
The IRS has urged veterans who received disability severance payments after January 17, 1991, and reported it as taxable income, to file Form 1040X, Amended U.S. Individual Income Tax Return, to ...
The IRS has removed existing regulations regarding advance payments for goods and long-term contracts. These final regulations affect accrual method taxpayers who receive advance payments for goods, i...
The IRS provided additional information for taxpayers seeking guidance on the Code Sec. 965transition tax on untaxed foreign earnings. The Tax Cuts and Jobs Act ( P.L. 115-97) (TCJA) require...
National Taxpayer Advocate Nina E. Olson has released a special report on the earned income tax credit (EITC), with recommendations designed to increase the participation rate of eligible taxpayers an...
The Illinois DOR has responded to a taxpayer’s question asking whether local government-run parking will be exempt from the upcoming parking tax. The state parking excise tax takes effect Januar...
Indiana has issued guidance regarding recently enacted legislation that requires the collection of Indiana sales tax by marketplace facilitators on behalf of sellers, including those that facilitate t...
A denial of the principal residence property tax exemption for the 2013, 2014 and 2015 tax years was affirmed by the Michigan Court of Appeals because the taxpayer did not occupy the properties and co...
The Wisconsin Department of Revenue has certified that Wisconsin is in substantial compliance with the terms of the Streamlined Sales and Use Tax Agreement as of August 1, 2019. Further, Wisconsin has...
Craig & Associates, LLC was incorporated August 1, 1980. We have been serving individuals and businesses for over 30 years and offer a variety of services: income tax preparation, strategic tax planning, financial planning, estate planning, retirement planning, insurance planning, investment review, auditing & accounting services, recordkeeping & reports, payroll & sales tax services, pension & profit sharing plan services and incorporations & partnerships. We work with several types of businesses including Corporations, S-Corporations, Partnerships, Condominium Associations, Municipalities, Not-for-Profit Organizations and HUD properties.
Employed with our firm are ten to twelve staff members, depending on the season, including six Certified Public Accountants and two Degreed Accountants. We are a proud member of the American Institute of Certified Public Accountants and the Illinois Certified Public Accountants Society and have successfully participated in quality peer reviews of accounting and auditing practices since 1997.
We'd like the opportunity to meet you and discuss your accounting needs.
TAX PLANNING AND PREPARATION
Craig & Associates, LLC prepares all required tax returns to assure you are paying the lowest tax possible. We monitor tax law changes that will affect you as well as recommend tax savings strategies.
We advise you on how to maximize your after-tax return and act as a sounding board for your investment ideas.
FINANCIAL AND ESTATE PLANNING
As your financial consultant, Craig & Associates, LLC works with you to increase your net worth and we plan with you to minimize your estate taxes. We can give an analysis of net worth, investment review, family gifting, trusts and retirement plans to assist you in maximizing benefits for you and your heirs.
RECORDKEEPING AND REPORTS
Craig & Associates, LLC designs accounting to fit your business and personal financial affairs. We prepare payroll reports, journals, general ledgers, reports to state and federal agencies, as well as other financial records and reports.
FINANCIAL STATEMENTS & AUDITS
Craig & Associates, LLC can meet your needs in preparing financial statements by providing compilation, reviewed or audited statements on a yearly, quarterly or monthly basis. Helping you to use the statements in managing your business and increasing your profitability is an important aspect of our service to you.
CPAs at Craig & Associates, LLC must meet high education and experience standards for the accounting profession, must pass a rigid nationally-uniform examination, and must meet state licensing and continuing education requirements.
We are proud to be a member of the Illinois Certified Public Accountants Society and to have successfully completed a quality review of its accounting and auditing practices.
The staff at Craig & Associates, LLC is committed to excellence and dedicated to giving you the personal attention you deserve!
- Income Tax Preparation
- Strategic Tax Planning
- Financial Planning
- Estate Planning
- Retirement Planning
- Insurance Planning
- Income Tax Preparation
- Auditing Services
- Accounting Services
- Payroll Tax & Sales Tax
- Pension & Profit Sharing Plans
- Incorporations & Partnership Agreements