The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2020, and the lease inclusion amounts for business vehicles first leased in 2020. The limits and amount...
The IRS has addressed various myths regarding tax refunds, and reminded taxpayers that there is no secret way to find out when a refund will be issued. The IRS also commented on processing delays for ...
Treasury and the Small Business Administration (SBA) announced on July 6 the public release of data regarding specific loans issued under the Paycheck Protection Program (PPP)."The PPP is providing mu...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) ( P.L. 116-136) waives required minimum distributions (RMDs) during 2020 for IRAs and retirement plans, including beneficiaries ...
The IRS has started sending letters to taxpayers who have experienced delays in the processing of their Form 7200, Advance Payment of Employer Credits Due To COVID-19.If the IRS rejected Form 720...
The IRS has further postponed, until December 31, 2020, the deadline for performing any community health needs assessment (CHNA) requirements due to be completed on or after April 1, 2020, and before ...
The IRS announced that additional retail partners are accepting cash payments for federal taxes. This option may be used by individuals and business taxpayers. The IRS’s continuing partnership w...
According to a report released by the Government Accountability Office (GAO), various tax compliance challenges confront "platform workers" who often lack access to information about their e...
National Taxpayer Advocate (NTA) Erin M. Collins released an objectives report to Congress on June 29. The report identifies taxpayer challenges arising from the COVID-19 pandemic, the Coron...
The Illinois Department of Revenue (department) reminds taxpayers that personal income tax filing and payment is due July 15, 2020.For assistance, taxpayers may:contact the department's telephone assi...
Indiana Department of Revenue (department) advises personal income taxpayers to make sure that they have all the information they need to file their returns due July 15, 2020, to avoid late fees or pe...
Beginning August 1, 2020, Michigan’s prepaid sales tax rate on fuel will change. From August 1, 2020 through August 31, 2020, the prepaid rate for gasoline increases from 8.8 cents per gallon to...
The Wisconsin Supreme Court has dismissed a complaint challenging whether two partial vetoes in the 2017-19 biennial budget exceeded Gov. Walker’s constitutional authority. The court agreed that...
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 and Not-for-Profit Organizations.
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 meet high education and experience standards for the accounting profession, pass a rigid nationally-uniform examination, and 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