Tax Reduction Strategist Near Chicago Illinois

We Help Business Reduce Their Taxes

We provide year-long, aggressive, pro-active tax reduction planning as a tax strategist near Chicago, Illinois.

Tax Reduction Strategist Near Chicago Illinois

Never Overpay Tax & Build Tax Efficient Wealth

Chicago Based Tax Strategist

We'll provide highly engaged leadership throughout the year to help you mitigate your income tax, social security tax and medicare taxes.

We Do Bookkeeping

Run a lean business and outsource your bookkeeping to TJD Accounting. Always up to date & done to perfection.

We do Tax Reduction Planning

We know the tax code, and we'll help your business identify meaningful ways to reduce taxes and then put them into place.

We'll Be Your Outsourced Accountants

We'll be your outsourced accounting & bookkeeping team so you can focus staff on production & sales.

We Do Year End Tax Returns

We'll do your personal and business tax returns on-time, on-point and with an eye on tax reduction and scaling your business.

Tax Reduction Strategist Near Chicago Illinois

S-Corp Optimization or Entity Selection

We setup & maximize S-Corporations & Business Entities

One of the foundations of tax reduction planning, is helping businesses choose the right business entity, and then help them maximize it's overall tax efficiency.

Tax Reduction Strategist Near Chicago Illinois

Get a Tax Reduction Plan With Implementation

We do all the legwork to ensure our tax strategies get implemented

There's hundreds of tax strategists near Chicago, but many of them charge huge fees to run a tax planning software, and then they never help setup what's needed or provide the year-long bookkeeping & engagement required to maximize it.

Tax Accountant Near Chicago

Industries We Serve:

We're an accountant near Chicago Illinois that serves small businesses across the United States, and while we serve any types of small business, here are just a few of the industries we specialize in.

Contractors & Construction

We are an accountant for contractors & Construction companies.  We love helping with taxes, accounting & bookkeeping for general contractors & builders.

Realtors & Real Estate Agents

We do taxes, bookkeeping & accounting for realtors, real estate brokerages and agents.  We have a nice setup for Realtor S-Corps

Medical Offices & Contractors

We specialize in physician owned family offices, independent contractors and physicians taxes, bookkeeping & planning.

Professionals & Coaches

We can help any small business owner, coach, online professional or speaker lower their taxes and keep perfect books.

Trucking & Logistics

We help owner-operators, Third Party Logistics providers and trucking companies with their bookkeeping, accounting & tax.

Retail & 

Looking for a restaurant focused accounting and tax firm? We can help you out with your bookkeeping, tax planning & payroll.

Tax Reduction Strategist Near Chicago Illinois

We're Engaged All Year

Effective Tax Reduction Strategies Guide Throughout the Year

Real tax strategies are engaged with your business goals, investments and helping you make choices around equipment, people and growth.

Tax Reduction Strategist Near Chicago Illinois

Tax Strategist & Reduction

We provide year-long, aggressive, pro-active tax reduction planning as a tax strategist near Chicago, Illinois.

Payroll Company Near Chicago Illinois


We're a highly engaged, small business payroll company near Chicago, Illinois.

Bookkeeping Services Near Chicago

Bookkeeping Service

Focus your team and resources on what matters most, while we keep prompt & perfect books.

Business Tax Return Preparation Near Chicago

Tax Returns

We're a Chicago based tax and accounting firm, and we'll help you prepare and file your business tax returns quickly & easily.


Learn more about our pricing, process and solutions here.

What kind of tax savings might a business owner experience when converting from a schedule C Sole Proprietorship, to an S-Corporation?

Converting from a Schedule C Sole Proprietorship to an S-Corporation can result in several tax savings for business owners in Illinois. Here are some potential tax savings that may be realized:

  1. Self-employment tax savings: As a sole proprietor, the business owner is responsible for paying self-employment taxes on their net income. As an S-Corporation, the business owner can take a portion of their income as a salary and the remainder as distributions, which are not subject to self-employment tax. This can result in significant tax savings for business owners.
  2. Deduction of fringe benefits: As an S-Corporation, the business owner may be able to deduct the cost of certain fringe benefits, such as health insurance, retirement contributions, and other employee benefits. These deductions can result in tax savings for the business.
  3. Reduced state income tax: Illinois has a flat rate for state income tax, which means that all income is taxed at the same rate. However, S-Corporation income is not subject to state income tax in Illinois, which can result in significant tax savings for business owners.
  4. Ability to use a fiscal year: S-Corporations have more flexibility in choosing their fiscal year than sole proprietors. This can help business owners to better manage their income and expenses and potentially reduce their tax liability.
  5. Lower audit risk: S-Corporations generally have a lower audit risk than sole proprietorships, as they are subject to different tax rules and regulations. This can help business owners to avoid costly audits and penalties.

It's important for business owners to consult with a qualified tax professional to determine if converting to an S-Corporation is the right choice for their business. While S-Corporations offer several potential tax benefits, they also require additional administrative and accounting work, and may not be the best fit for all businesses.

What are some common strategies business owners use to reduce taxes in the state of Illinois?

Business owners in the state of Illinois may use a variety of strategies to reduce their tax burden. Here are some common strategies that can help reduce taxes for Illinois-based businesses:

  1. Take advantage of tax deductions: Business owners can reduce their taxable income by taking advantage of tax deductions for business expenses, such as rent, utilities, and supplies.
  2. Consider bonus depreciation: Business owners can take advantage of bonus depreciation, which allows them to deduct a significant portion of the cost of certain business assets in the year they are acquired.
  3. Utilize tax credits: Illinois offers a variety of tax credits for businesses, such as the Economic Development for a Growing Economy (EDGE) Tax Credit and the Research and Development (R&D) Tax Credit. Business owners can take advantage of these credits to reduce their tax liability.
  4. Plan for retirement: Business owners can contribute to tax-advantaged retirement plans, such as a 401(k) or a Simplified Employee Pension (SEP) plan, to reduce their taxable income and save for retirement.
  5. Consider restructuring the business: Business owners can consider restructuring their business to take advantage of different tax rates or tax exemptions. For example, incorporating the business as an S corporation or forming a limited liability company (LLC) can provide certain tax benefits.
  6. Plan for state and local taxes: Illinois has a variety of state and local taxes that can impact businesses, such as sales tax, property tax, and city-specific taxes. Business owners should be aware of these taxes and plan accordingly to reduce their tax liability.

It's important for business owners to consult with a qualified tax professional to ensure that they are taking advantage of all available tax strategies and incentives, while also complying with all applicable tax laws and regulations.

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