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Accounting and Bookkeeping Services for Illinois
1-800Accountant, America’s leading virtual accounting firm for small businesses, manages all of your bookkeeping and accounting tasks with comprehensive end-to-end services designed to support and expand your small business in Illinois.
Our Accounting Services for Illinois Small Businesses
Business Tax Preparation: Get your taxes expertly prepared and filed by a CPA experienced in your industry so you always feel secure about your business tax situation. Our CPAs, with more than 17 years of experience on average, can save your business thousands annually when you entrust the complexities of Illinois tax preparation to them!
Bookkeeping: Strengthen your financial foundation and manage cash flow with meticulous, error-free bookkeeping done for you. This detailed approach saves time and provides critical data-driven business insights. It offers the best tools for interpreting data with easy-to-understand reporting, enabling your accountant to develop essential financial models.
Tax Advisory: Business tax considerations don't end in April. Through our affordable tax advisory service, you can receive the guidance you need when you need it year-round from a dedicated small business CPA. Strategic planning helps minimize your business tax liability in Illinois throughout the year while ensuring compliance.
Payroll: Save numerous hours each pay period with our comprehensive payroll service handled for you with regular tax submissions to the state of Illinois, ensuring accuracy and allowing you to focus on other vital areas of your business.
Business Formation: Experience the benefits of officially establishing your business in Illinois with our complimentary incorporation service. You only cover the state fees, and we manage the rest. This puts you on a path to hire employees, open a business bank account, and enjoy an optimized business tax structure and maximum tax savings.
Illinois Corporate Tax Rates and Brackets
| Corporate Tax Rate | Corporate Tax Bracket |
|---|---|
| 9.5% | $0 |
When Do You Have to File Business Tax Returns in Illinois?
| Partnerships Due Date - Annual Returns | C-Corp Tax Due Date - Annual Returns | S-Corp Tax Due Date - Annual Returns |
|---|---|---|
| March 15, or same as federal return | April 15, or same as federal return | March 15, or same as federal return |
LLC Renewal Dates and Fees in Illinois
| How Often Do You Have to Renew Your LLC? | LLC Formation Filing Fee | LLC Yearly/Biennial Filing Fee |
|---|---|---|
| Annually | $150 | $75 |
Single Filers - Illinois Tax Rates and Brackets
| Single Filer Rates | Single Filer Brackets |
|---|---|
| 4.95% | $0 |
Single Filers - Illinois Exemptions and Deductions
| Standard Deduction (Single) | Personal Exemption (Single) |
|---|---|
| n.a. | $2,775 |
Married Filing Jointly - Illinois Tax Rates and Brackets
| Married Filing Jointly Rates | Married Filing Jointly Brackets |
|---|---|
| 4.95% | $0 |
Married Filing Jointly - Illinois Exemptions and Deductions
| Standard Deduction (Couple) | Personal Exemption (Couple) |
|---|---|
| n.a. | $5,550 |
What to Look for in Illinois Accounting and Bookkeeping Services
When selecting an accountant or bookkeeper for your Illinois small business, you should consider these factors:
Expertise in Illinois Tax Laws: Look for a professional well-versed in Illinois-specific tax regulations, such as state income tax, sales tax, and property taxes, to ensure compliance and maximize tax savings.
Familiarity with Local Business Incentives: Choose an accountant who is knowledgeable about Illinois economic development programs, such as the EDGE (Economic Development for a Growing Economy) Tax Credit, which can offer significant benefits for your business.
Experience with Diverse Industries: Given Illinois' diverse economy, including manufacturing, agriculture, and financial services, consider an accountant with experience across these sectors who can provide tailored financial strategies.
Understanding of Chicago's Business Landscape: If your business operates in or near Chicago, opt for a professional who understands the unique economic and regulatory environment of the city, including local tax ordinances and business licenses.
Capability to Manage Multi-State Operations: If your business operates across state lines, particularly those in the Chicago area that might regularly conduct business in Indiana and Wisconsin, ensure your accountant can effectively handle multi-state taxation and regulatory compliance.
Serving Small Businesses Throughout the Entire State of Illinois
- Chicago
- Springfield
- Peoria
- Champaign
- Naperville
- Joliet
- Edwardsville
- Carbondale
“I’ve been fortunate to have great accountants who care, get back to me very timely, and believe they do a great job getting the most money back they are able to.”
Sal
Actual customer testimonial. Photo is illustrative only.
Additional Illinois Accounting Resources:
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions Owners Are Asking
Talk to a business tax expert today for all your tax needs in Illinois.
*Based on a $12.2k average 2022 tax refund per client, which is 4x the cost of a full-service package. Source: first-party data.
*Includes average business tax preparation, form completion and submission, record keeping, and other misc admin time. Source.
*Historical first-party data.