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Accounting and Bookkeeping Services in Joliet, Illinois
Joliet small business owners trust 1-800Accountant to simplify their bookkeeping, maximize tax savings, and gain the financial clarity their Illinois business needs to thrive.
Our Accounting Services for Joliet Small Businesses
Business Tax Preparation: Have your taxes prepared and filed by a CPA with expertise in your industry so you're always confident in your business tax situation. Our CPAs, with more than 17 years of experience on average, can save you thousands annually when you delegate complex Joliet tax preparation to them!
Bookkeeping: Solidify your financial base and manage cash flow with precise, error-free bookkeeping done for you that saves time and provides crucial insights that empower you to make important data-backed business decisions. This meticulous process delivers essential tools for interpreting data with easy-to-understand reporting, enabling your accountant to develop vital financial modeling.
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 tax advisor. Strategic planning helps minimize your business tax liability in Illinois throughout the year while ensuring compliance.
Payroll: Save hours each pay period with comprehensive payroll services handled for you, with regular tax submissions to the city of Joliet, ensuring accuracy and freeing you to focus on other vital aspects of your business.
Business Formation: Enjoy the advantages of officially establishing your business in Illinois with our complimentary incorporation services. Simply cover any Joliet fees, and we will manage the rest. This puts you on a path to hiring employees and creating a business bank account as you experience the benefits of an optimized business structure and maximum tax savings.
Discussing your business taxes with 1-800Accountant is quick and easy:
- Set up a time for us to give you a call.
- Tell us what’s going on with your business.
- Get matched with an accountant who knows your industry & local regulations.
| Level | Rate |
|---|---|
| State Tax Rate | 6.25% |
| County Tax Rate | None |
| Municipal Tax Rate | 1.75% |
| Regional Transport. Authority | 0.75% |
| Combined Sales Tax Rate | 8.75% |
| City-Specific Taxes |
|---|
| Illinois has a Corporate Income Tax that businesses classified as corporations must pay. The rate is 9.5%, and returns are due by the 15th day of the fourth month after the close of the taxable year (March 15 for calendar-year filers). |
| Licenses and Permits |
|---|
| Most businesses operating in Joliet require a general business license before opening. Each location needs its own non-transferable license that must be visibly displayed. |
| The following businesses require specialty licenses in Joliet: alarm contractors (contact Joliet Police Department), HVAC and electrical contractors (through Community Development Department), retail businesses (may need city sales tax collection registration) |
| Before leasing or purchasing property, confirm with the Community Development Department that your business meets zoning requirements for your intended location. |
| All Illinois businesses must register with the state through the MyTax Illinois online portal for tax purposes. |
| Grants and Funding in Joliet | Grants and Funding Information |
|---|---|
| Downtown Business Grants | Provides up to 50% of revenue loss attributable to construction, with a cap of $100,000 per business. Designed to offset revenue losses due to major construction projects in downtown Joliet. Five businesses have recently received grants ranging from $5,790 to $25,000. Program ongoing until construction ends (late 2025). |
| Small Business Assistance Grant | Microgrants for new businesses renting or leasing space within Joliet's Downtown Core area. Aimed at supporting new entrepreneurs and startups in the city center. Contact City of Joliet Economic Development for current funding availability and application details. |
| Will County Small Business Grant Program | Assists small businesses in Will County with financial support. For details on current funding availability and application process, email caresbiz@willcountyillinois.com. Available to various business types including for-profit, not-for-profit, and sole proprietors. |
What to Look for in Joliet, Illinois Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Joliet small business, you should consider the following factors:
Certifications and State Compliance: Verify the accountant or bookkeeper holds appropriate credentials, such as CPA licensure. They should demonstrate thorough knowledge of Illinois tax codes, particularly those affecting Will County businesses. Local professionals should understand Joliet's business licensing requirements and municipal tax obligations that differ from neighboring communities.
Experience and Specialization: Find professionals with experience in your specific industry. A bookkeeper familiar with Joliet's diverse economic landscape, from manufacturing to entertainment and hospitality, will provide more valuable insights than a generalist. For businesses connected to Joliet's prominent casino industry or motorsports venues like the Chicagoland Speedway, specialized financial knowledge becomes even more critical.
Understanding of Local Economic Conditions: Choose a professional who understands Joliet's unique economic environment. The city's position along major transportation corridors (I-80, I-55) creates distinct business opportunities and challenges. A local accountant will recognize how Joliet's proximity to Chicago impacts business operations while understanding the different cost structures of operating in Will County versus Cook County.
Knowledge of State Tax Incentives: Illinois offers various tax incentives that Joliet businesses can leverage, including the Economic Development for a Growing Economy (EDGE) tax credit program and incentives for businesses in designated enterprise zones. A knowledgeable Joliet accountant can help navigate these opportunities, particularly for businesses considering expansion near the intermodal facilities or the historic downtown district where specific development incentives may apply.
Talk to a business tax expert today for all your tax needs in Joliet.
Additional Illinois Accounting Resources:
Illinois Small Business Tax Guide for 2025
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions Owners Are Asking
*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.