The IRS will begin accepting and processing 2020 tax year returns for individual filers on Friday, February 12, 2021. This start date will allow the IRS time to do additional programming and testing o...
The IRS has expanded the Identity Protection PIN Opt-In Program to all taxpayers who can verify their identities. The Identity Protection PIN (IP PIN) is a six-digit code known only to the taxpayer an...
The IRS released the optional standard mileage rates for 2021. Most taxpayers may use these rates to compute deductible costs of operating vehicles for:business,medical, andcharitable purposes.Some me...
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced that the Paycheck Protection Program (PPP) would re-open during the week of January 11 for new bor...
The IRS has released final regulations with the procedures under Code Sec. 6402(n) for identification and recovery of a misdirected direct deposit refund. This guidance reflects modifications to the l...
The IRS has announced that it is extending its temporary acceptance of certain images of signatures (scanned or photographed) and digital signatures on documents related to the determination or collec...
Illinois Gov. J.B. Pritzker issued a press release calling for:decoupling Illinois income tax law from changes to the federal treatment of net operating losses (NOLs); anda freeze on corporate and per...
A Limited Liability Corporation (LLC) that operated a shipyard along the banks of the Ohio rivers in Tell City was not entitled to receive a research expense credit on its Indiana corporate income tax...
Michigan’s prepaid sales tax rate on fuel remains have been announced. From February 1, 2021 through February 28, 2021, the prepaid rate for gasoline increases to 10.5 cents per gallon. The prepaid ...
For corporate and personal income tax purposes, a new Wisconsin law created a capital gain exclusion for certain taxpayers that invest in a Wisconsin qualified opportunity fund. "Wisconsin qualified ...
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