Business Tax Services
Simplify your business taxes with professional support from a Chicago CPA
Business tax returns can be hundreds of pages long. We simplify the process and ensure every detail is accurate. Our tax accountants provide accurate returns for LLCs, S-Corps, C-Corps, and multi-state businesses. We’ll capture every deduction while keeping you compliant with federal, state, and local tax requirements.
A Chicago-based CPA firm, we serve small businesses, startups, and corporations across Illinois and nationwide. From business tax preparation to year-round planning, we help position your business for efficient, sustainable growth.
Business tax services & support
As your business grows, compliance becomes more complex. We manage filings, registrations, and payments across every agency and jurisdiction so you stay current all year.
Illinois and Chicago compliance
We handle Illinois K-1 adjustments, Chicago Personal Property Lease Transaction Tax filings, and other regional obligations that national firms often miss.
Sales and payroll tax compliance
We register, file, and manage nexus across jurisdictions. Integrated bookkeeping and payroll service ensures accurate collection, reporting, and remittance.
IRS audit support
If you receive an IRS or state notice, we will review and help you to respond. Our CPAs communicate directly with the IRS or state authorities, providing documentation and context on your behalf.
Estimated tax payments
We calculate quarterly estimates based on projected income, preventing underpayment penalties while helping you manage business cash flow.
As an entrepreneur, I want to build the best possible foundation for success. Pasquesi Partners has been a crucial, trusted adviser as I incorporated my start-up, submitted numerous state and federal forms, and filed of our first corporate tax return. Rob Pasquesi helped to guide me through the complicated processes and ensured accurate and timely results.
– S.K.
Tax solutions tailored to your business needs
Getting your taxes done right means understanding your entity structure, tracking basis accurately, and filing on time across every jurisdiction.
LLCs and partnerships
As small business tax accountants, we track partner basis, handle distributions, and prepare K-1s that clearly show each partner’s income, deductions, and credits.
S corporations
Working with corporations, we track shareholder basis, analyze reasonable compensation (the IRS watches this closely), and calculate qualified business income deductions.
C corporations
Different tax rates mean different strategies. We help with timing decisions, evaluate dividend distributions, and coordinate corporate and shareholder taxes to lower your overall bill.
Multi-state businesses
Operating in multiple states adds complexity. Our tax accountants will ensure you’re filing correctly in each jurisdiction while minimizing your total state tax liability.
Rob is excellent. He is professional and creative. As a business owner himself, he is always looking out for you. I find that having a trustworthy tax professional is important. Rob is, but he is also creative. You want someone who will think about your business like their own. That is Rob. My co-founder and I both highly recommend him.
– Lekan B.
Tax credits & deductions for businesses
Many businesses miss out because they don’t know what’s available or can’t prove they qualify. We identify tax credits and deductions specific to your business, from R&D credits to industry-specific write-offs.
R&D tax credits: Software development, process improvements, and product innovation activities may qualify. See our complete 2025 guide to R&D tax credits.
Energy and Sustainability Incentives: Federal, Illinois, and Chicago programs reward efficiency upgrades and renewable investments.
Industry-Specific Deductions: Our CPAs know the tax rules, credits, and deductions that apply to law firms, creative agencies, and professional services.
More than tax preparation, we’re thinking ahead for your business.
Reach out – we’ll review your current tax situation and answer your questions about year-round tax planning.
What our clients say
Business tax accountants who are proactive, responsive, and clear
Most CPAs file returns and check boxes. We learn your business model and anticipate challenges before they become problems. We tailor our advice to your industry and goals, acting as strategic partner.
Law firms
Accounting and tax strategies for law firms that manage trust accounts, partner distributions, and multi-state filings. Stay compliant and improve profitability with CPA support tailored to your practice.
Professional services
We help architects, consultants, and creative agencies align billing, utilization, and cash flow. Our CPA-led accounting keeps your financial data organized so you can focus on client work and growth.
Startups
Chicago startups need tax help from day one. The way you structure your entity, equity, and early investments shapes your tax position for years. We help founders build smart financial systems from the start.
Our Approach
Personal attention and responsiveness are the cornerstones of our client relationships
We’re a Chicago-based CPA firm that works directly with you on individual and business tax returns. Learn about working with us.
We cost more than the preparer who just fills out forms. But there’s a reason businesses make the switch:
- Local expertise matters. We stay current on Chicago tax rules and Illinois incentive programs that national firms miss.
- Year-round availability means real support. Tax questions come up when you’re making business decisions, not just during tax season. Ongoing support means you get answers when you need them.
- Proactive outreach saves you money. We reach out when tax laws change and when we spot opportunities for your business. Never miss another planning deadline, we track them for you.
Questions?
Schedule a complimentary 20-minute call.
Business tax preparation process
Clear communication is part of our process. No accounting jargon, just responsive tax accountants who provide straight answers.
1
Book a complimentary call
We discuss your tax situation and answer your questions to determine the right service level for your business needs.
2
Share your documents
We provide access to our bank-level encrypted client portal where you can securely upload all essential financial documents.
3
Tax consultation
We meet with you to review your documents and discuss your tax situation. We answer questions and identify strategies to reduce your tax liability.
4
Review and file
Our CPAs prepare and review your return for accuracy, ensuring every number is correct. You review your completed return before we file.
Track your refund, make tax payments
We’ve compiled free templates, guides and resources to help you manage your finances, check refund status and pay your taxes.
Ask a CPA
Business tax resources and FAQs
Cost depends on your entity type, business complexity, number of state filings, and whether you need year-round planning support. Simple single-state LLC returns cost less than multi-state C-Corp returns with complex operations. Review our pricing plans here. We’re happy to answer your questions – reach out to book a complimentary consultation to discuss the specific needs of your business.
You’ll need financial statements (profit and loss, balance sheet), prior year tax returns, payroll reports, 1099s issued and received, depreciation schedules, and bank statements. We provide a detailed checklist during consultation. If you work with a bookkeeper, we coordinate directly with them to gather what we need.
Entity structure determines how your business income is taxed, what deductions are available, and how you can distribute profits. Sole proprietorships and partnerships pass income through to owners’ personal returns. S corporations provide self-employment tax savings through reasonable compensation requirements.
C corporations face double taxation but offer advantages for retained earnings and certain fringe benefits. The right structure depends on your income level, growth plans, and ownership structure. We evaluate all factors to recommend the optimal entity for your situation. See how the QBI deduction affects pass-through entities
You might also need coordinated individual tax preparation to optimize your personal and business tax positions together.
Yes. Business income flows through to your personal return (for LLCs, S-Corps, and partnerships), so we prepare both to ensure everything coordinates correctly. This integrated approach identifies planning opportunities that affect both returns – like retirement contributions, estimated payments, and timing strategies.
Illinois businesses can access research and development credits, employee retention and hiring credits, investment tax credits for qualified property, and energy efficiency incentives through state programs. Chicago offers additional commercial property tax incentives and TIF district benefits. Many businesses qualify for R&D credits without realizing it: software development, product improvements, and process changes often qualify. See our complete guide to R&D tax deductions for 2025.
Available credits depend on your industry, business activities, and location. We review your specific situation to identify all applicable credits and ensure proper documentation for claiming them.
Illinois business tax compliance is more complex than in most states because it combines multiple tax layers, jurisdiction-specific sales taxes, separate state agencies for payroll reporting, and frequent rule changes. Unlike many states that rely on a single business income tax or franchise system, Illinois businesses face several layers of obligations that often overlap.
Working with a CPA who understands Illinois-specific requirements helps businesses stay compliant, minimize penalties, and identify state-level savings opportunities—especially through credits and PTE elections.
If you are an Illinois business and have registered in Illinois, you can obtain a CERTIFICATE OF RESALE by visiting the following website: http://tax.illinois.gov/TaxForms/Sales/CRT-61.pdf. MAKE SURE THAT YOU REGISTERED AS A RETAILER IN ILLINOIS.
Visit: https://mytax.illinois.gov to REGISTER AND COMPLETE THE REG-1 FORM.
This is very important – there is an 8 digit number that is used on the Certificate of Reseller form that you need to obtain from the My Tax Illinois website.
So you are a retail business, whether operating online or have a brick and mortar store, and sell products to customers. If you are operating your store from the State of Illinois, for example, and sell to customers in Illinois, you charge those customers a sales tax (which was covered in our NEXUS 101 video). Now, what if you buy products from another company and resell those products to your customers? Should that other company charge you sales tax? The answer is NO, since you are considered a reseller. To be exempt from sales tax, the company that you are buying products from will ask you for your CERTIFICATE OF RESALE. They need to retain this copy for their records. Similarly, if a company was buying products from you, then reselling them to their customers, you need to request a CERTIFICATE OF RESALE from that company and retain it for your records. If you do not have a CERTIFICATE OF RESALE, you need to pay sales tax on all purchases. If you are an Illinois business and have registered in Illinois, you can obtain a CERTIFICATE OF RESALE by visiting the following website: http://tax.illinois.gov/TaxForms/Sales/CRT-61.pdf
MAKE SURE THAT YOU REGISTERED AS A RETAILER IN ILLINOIS – visit: https://mytax.illinois.gov to REGISTER AND COMPLETE THE REG-1 FORM.
Every state is different – so make sure you revisit the state sales tax rules.
Yes, if for example, your company year-end is December 31, 2025 and your tax return reflects cash basis numbers – even if you make a 401K company contribution in 2026, prior to filing of your company’s 2025 tax return, those 2026 contributions would be considered a deduction on your 2025 business tax return. More information on the IRS.gov website on this question. Or, reach out to schedule a call with us.
You can reach the Department of Sales and Use Taxes here:
Call us at: 1 800 732-8866 or 1 217 782-3336
Call TDD: 1 800 544-5304
Mail your ST-1 forms to: ILLINOIS DEPARTMENT OF REVENUE
RETAILERS OCCUPATION TAX
SPRINGFIELD IL 62796-0001
Mail your ST-1-X forms to: ILLINOIS DEPARTMENT OF REVENUE
PO BOX 19034
SPRINGFIELD IL 62794-9034
Website: https://mytax.illinois.gov/_/
C Corporations with average annual gross receipts of $25 million or less over the previous three years can use the cash method of accounting. Corporations exceeding this threshold must use the accrual method. This $25 million threshold also applies to partnerships and LLCs with C Corporation owners. The cash method is simpler than accrual accounting because you report income when you receive it and deduct expenses when you pay them, rather than tracking when transactions are earned or incurred.
Following the 2018 Supreme Court decision in South Dakota v. Wayfair, Wisconsin requires remote sellers to collect and remit sales tax on sales into the state, even without physical presence.
Who Must Collect Wisconsin Sales Tax
Remote sellers must collect Wisconsin sales tax if they exceed either threshold:
– $100,000 in annual sales into Wisconsin, OR
– 200 or more separate transactions into Wisconsin
– Note: These thresholds don’t apply to sellers with physical presence in Wisconsin—they must collect sales tax regardless of sales volume.
What This Means
Any retailer selling tangible personal property or taxable services for use in Wisconsin must collect and remit sales tax, unless exempted by federal law or the small seller exception above.
If your company is a Limited Liability Company for legal purposes, and you want to be taxed as a Corporation, they you need to complete FORM 8832. FORM 8832 is the Entity Classification FORM. It is filed to elect a tax status other than the default status for your entity. This is an optional form. If you do not complete this FORM, then you will retain your default status. If you are a foreign entity, you might also be able to complete this form.
Under the new tax law – things have gotten easier for small businesses. Fewer companies will have to capitalize inventory production costs, now that the new tax law upped the gross receipts level to apply the UNICAP rules from $10 million to $25 million. (Kiplinger Tax Letter)
If you sold products to a non-profit or other exempt organization, you do not need to charge them sales tax.
However, you do need to obtain a SALES TAX EXEMPTION CERTIFICATE from that non-profit organization. An example of this certificate in Illinois is: http://tax.illinois.gov/taxforms/sales/Schedule-RE.pdf You will retain this certificate for your records. Make sure you obtain this certificate before you make the sale!
How tax preparation connects to tax planning
If you only think about taxes during tax season, you might miss opportunities that can save you money.
Learn more about business tax on our blog
7 Essential Elements of Smarter Tax Planning
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