Frequently Asked questions

 

Tax Preparation
The Accounting Network offers professional preparation of all federal, state, multi-state, and local tax returns at competitive, affordable rates. Individual fees begin at $175 while business returns start at $395.  Electronic filing is available at no extra charge. We continuously monitor federal & state tax law changes to allow our clients to minimize current & future tax liabilities. Personal and corporate tax returns are billed based on the number of schedules that the CPA has to file.

 

Financial Statements
The Accounting Network can prepare professional, GAAP-compliant financial statements as well as tailor-made financial analyses that can help business owners and managers eliminate inefficiency and realize a business's full profit potential.

 

IRS and State/Local Representation
Our firm knows the tax laws, and we know how your tax return was prepared. We can provide complete representation services before the IRS as well as state and local taxing authorities. We are also experienced in negotiating Offers in Compromise with the IRS to help reduce your tax liabilities.

 

Quickbooks / Peachtree Assistance 
Our bookkeepers and CPA's are experienced in QuickBooks and Peachtree software. They are available to assist your business on site or in our offices. As Quickbooks Professional Advisors they are able to help train your staff.  Monthly checkups of your Quickbooks and Peachtree data can be easily performed over the Internet.

 

Bookkeeping/Write-Up
Our firm provides full-charge bookkeeping services, including general journal and subsidiary ledger maintenance, bank statement reconciliation, and receivables and payables tracking and analysis. These services can be performed on site at your office or at our location easily from your check register or source documents.  Fees are dependent on the complexity and volume and start at $50 per hour. Onsite services start at $125 per hour.

 

Payroll Services
Our firm offers complete payroll preparation and payroll tax reporting services. We prepare all federal and state quarterly and annual returns. Weekly payroll with direct deposit begins at $39 for up to 4 employees. Typical quarterly tax returns are charged at a rate of  $175 per quarter for Illinois taxpayers plus W-2's and 1099's processing at the end of the year.

Sales Tax Services
Our firm prepares all sales tax registrations and filings in most states. The Accounting Network also offers full sales tax audit representation.

Buying & Selling a Business
Our firm advises prospective business purchasers about local market conditions, industry trends, and the financial condition of an acquisition candidate. If you are selling a business, we can offer advice for obtaining the best possible sales price and contract payout terms.

 

Accounting Services 
Our Firm offers a complete range of accounting services, including receivables, payables, and payroll management. We prepare financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for use by banks, investors, and other third parties. Our firm will also prepare custom financial reports for internal, managerial use.