The IRS has announced that the deadline to register for an Economic Impact Payment (EIP) is now November 21, 2020. Further, the IRS has urged taxpayers, to register using the Non-Filers: Enter Info H...
The Treasury Department and the Small Business Administration issued updated Frequently Asked Questions (FAQs) on October 13, 2020, regarding the Paycheck Protection Program (PPP). This was a follow u...
The IRS has notified lenders to not file information returns or furnish payee statements under Code Sec. 6050P to report the amount of qualifying forgiveness for covered loans made under the Paychec...
The IRS has added an FAQ on the timing for ending the temporary procedures that allow Form 1139, Corporation Application for Tentative Refund, and Form 1045, Application for Tentative Refund, to be ...
Health insurance providers (including employers and health insurance companies) now have until March 2, 2021, to provide individuals with Forms 1095-B, Health Coverage, or Forms 1095-C, Employer-Provi...
The IRS has reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid surprises while filing next year. An adjustment or two made now may boost take home pa...
The IRS has launched a redesigned page on its website to help business owners navigate the federal tax steps when closing a business. The IRS has streamlined the "Closing a Business" page into sim...
he IRS has removed Form 1040-NR, U.S. Nonresident Alien Income Tax Return, from the list of returns that are administratively exempt from the electronic filing requirement imposed on specified tax re...
Illinois adopted a permanent regulation on the withholding tax credit for small employers who pay minimum wage to their employees. Eligible employers can claim the credit against Illinois corporation ...
Indiana issued an updated sales and use tax guidance on seller registration, methods of remittance, certified service providers, and the taxability matrix to clarify the department’s online portal f...
The City of Grand Rapids, Michigan charged the correct amount of payments in lieu of ad valorem taxes (PILOT) for two affordable low-income housing projects owned by the taxpayer.Payments in Lieu of T...
For 2020, Wisconsin has reduced the personal income tax rates for the first and second brackets to 3.54% and 4.65%. However, there are currently no plans to change the withholding tax rates.COVID-19 T...
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