Taking care of your taxes is more than filling out a form at the end of the year. You need a partner to play how best to approach your tax strategies.
If your business in the Chicago, IL area needs professional assistance when it comes to your taxes, bookkeeping or payroll, call our accountants at STE. Give us a call at (815) 836-0100 to schedule a consultation to talk to a certified public accountant that specializes in your industry.
OUR SERVICES
Accounting Services
We are a full-service accounting firm that provides business accounting services that cover bookkeeping, payroll, and more.
Tax Services
We stay up to date on legislation concerning payroll, income, sales, and other taxes to provide invaluable advice. We have expertise in traditional tax compliance, multi-state issues, and tax planning.
Bookkeeping Services
We work with clients to tailor a customized accounting service solution based upon their needs, staff, and complexity of the business. We can provide support to management or provide a full-service back office that completely eliminates the need for you or your staff to do bookkeeping.
Payroll Services
Payroll is a necessity for any business. We provide payroll services from startups to small and mid-sized businesses in many industries. Our accountants will ensure that your payroll is managed effectively.
Estate Planning
Building an estate plan ensures that your wishes are carried out when the time comes. Our accountants can help with your estate planning as we have an extensive knowledge of estate taxes and can help you make moves that minimize your taxes and maximize your estate’s worth.
Sales Tax | Nexus
STE’s accountants can help your business remain compliant with state and local tax laws and regulations. Our experts can perform nexus reviews and highlight areas of income, sales & use, and property tax exposure. Our accountants can work with you to ensure multi-state and local tax compliance.
ADVISORY SERVICES
Our accountants and consultants can provide advisory services such as business consulting. Over the time we work with your business, we will develop a personal relationship with you and get to understand your business on a level that allows us to provide effective business advisory services. We tailor these services to cover the unique needs of your business.
- Accounting Advisory
- Business Valuation
- Cash Flow Projection
- Financial Statement Preparation
- Transaction Advisory Services
- Business Consulting
- Business Planning
- Corporation & LLC Incorporation
- Strategic Financial Planning
- Transaction Due Diligence
HOW WE WORK
Personal Taxes
We spend time developing personal relationships so that we can provide a service that is tailored to you and your business.
Business Taxes
At STE, we are always up-to-date with new accouting, payroll, tax and IRS legislation to give you invaluable advice and spot opportunities to save you money.
Bookeeping
We’ll ensure you get all your paperwork filed on time and your financial records are in order
Talk to one of our Accountants Today
KNOWLEDGE CENTER
What to Know About Small Business Taxes in Chicago
Taking care of your taxes is more than filling out a form at the end of the year. You need a partner to play how best to approach your tax strategies.
Learn About How to Apply For PPP Loan
Taking care of your taxes is more than filling out a form at the end of the year. You need a partner to play how best to approach your tax strategies.
Tax Checkup: Best Tax Deductions for Doctors
Taking care of your taxes is more than filling out a form at the end of the year. You need a partner to play how best to approach your tax strategies.
FREQUENTLY ASKED QUESTIONS
For tax years 2018 through 2025 interest on home equity loans is only deductible when the loan is used to buy, build or substantially improve the taxpayer’s home that secures the loan. Prior to 2018, many homeowners took out home equity loans. Unlike other consumer-related interest expenses (e.g., car loans and credit cards) interest on a home equity loan was deductible on your tax return.
You may be able to take an immediate Section 179 expense deduction of up to $1,040,000 for 2020 ($1,020,000 in 2019), for equipment purchased for use in your business, instead of writing it off over many years. There is a phaseout limit of $2,590,000 in 2020 ($2,550,000 in 2019). Additionally, self-employed individuals can deduct 100 percent of their health insurance premiums. You may also be able to establish a Keogh, SEP or SIMPLE IRA plan and deduct your contributions (investments).
In 2020 (as in 2019), medical and dental expenses are deductible to the extent they exceed 10 percent of your adjusted gross income or AGI. If your employer offers a Flexible Spending Account (FSA), Health Savings Account or cafeteria plan, these plans permit you to redirect a portion of your salary to pay these types of expenses with pre-tax dollars.
If you’re planning to make a charitable gift, it generally makes more sense to give appreciated long-term capital assets to the charity, instead of selling the assets and giving the charity the after-tax proceeds. Donating the assets instead of the cash avoids capital gains tax on the sale, and you can obtain a tax deduction for the full fair-market value of the property.
WHAT OUR CLIENTS SAY ABOUT US
“Everyone at STE has been amazing. As a small business owner it is essential to have people on your team that are experts in all areas. When it comes to finance and taxes Jim and the team at STE fill that need. Thanks for being great at what you do and always be there!”
“STE has been handling our personal, business accounting, and payroll for years. They are knowledgeable, easy to reach, and very welcoming. Would definitely recommend them.”
“I have had nothing but pleasant experiences at STE. They are knowledgeable and provide great service.”
“We have used STE Corporation for our payroll and tax service needs over the past 3+ years and extremely pleased with the partnership we have created.”
“My husband has operated his painting business since 2004, first as a sole proprietorship and later as an S corporation. STE has been instrumental in helping him grow his business and remain in compliance. I cannot thank Mike, Marybeth, Jim, and Lisa enough for helping him get organized and stay that way. They have truly been the business office he needed in order to focus on the part of his business he enjoys – painting and customer service Their professional staff literally have never let him down – payroll, state taxes, federal taxes, consultation, ledger reconciliation, profit and loss sheets, and probably lots of things I do not even know about! Hiring this firm was the best decision he could have made. He looks forward to visiting the office, everyone makes him feel like family. I appreciate their professionalism and efficiency. Thank you STE!”