Tax and Accounting Services for Small Businesses in Chicago, IL

Chicago Small Business Accounting Firm

With decades of experience under our belt, we're some of the best accountants for small businesses in Chicago. Don't just turn to us for small business bookkeeping and tax services because we'll also deliver customized services that treat you and your business as the unique entities they are.

Whether you're looking to expand your business or seeking dependable financial guidance, Lewis.cpa is your trusted small business accountant. We offer personalized consultations to grasp your specific requirements and provide actionable strategies to help your business.

Key Differences Between Small Business and Big Business Accounting

Small business accounting differs significantly from its larger counterparts due to various factors, such as:

• Volume of Activity: Small business owners handle fewer transactions initially, requiring less expertise. As they grow, increased transaction volumes often necessitate professional accounting help.
• Cash vs. Accrual Accounting: Small businesses typically use cash accounting for simplicity, recording transactions when cash exchanges hands. Larger companies employ accrual accounting, recognizing transactions when they occur, and demanding adherence to complex rules.
• Financial Reporting Requirements: Small businesses face simpler reporting requirements compared to large corporations, impacting tax preparation and disclosures. Publicly traded companies must meet stringent standards for comprehensive financial reporting.
• Internal Controls and Risks: Small businesses may struggle with fewer resources for robust internal controls, increasing the risk of fraud or errors. Vigilance is crucial to maintain financial integrity and efficiency.

Our Small Business Tax Services

SME tax services can take a lot of responsibility off of your plate and put certain tasks in the hands of industry professionals who will do it right, from day one.

Income Tax Preparation

Tax preparation isn't fun for anyone, but small business taxes can get very complicated. Let professionals handle the details for you, so you have time to concentrate on other things.

IRS Representation

If the IRS looks into your filings, hearings might happen. We can represent you in front of the government so you have an expert standing up for you.

Mergers & Acquisitions

Mergers and acquisitions are opportunities for like-minded companies to come together and form a single unit where both businesses prosper as one, but the tax implications involved can be complicated to navigate.

Our Accounting and Bookkeeping Services for Small Businesses

Managing your books and keeping everything accurate can take a lot of work, but it's worth it in the end. It's faster and safer if you turn it over to experienced professionals who have the latest technology.

Bookkeeping

Our small business bookkeeping services in Chicago rely on the use of QuickBooks for its power, versatility, and accuracy. QuickBooks sets the industry standard, and we know it inside and out. You could learn to harness its power on your own, or you could just turn to a team of trusted experts who already have tons of experience.

Payroll Services

Employees and contractors have to get paid, be paid accurately, and get their pay on time if you want smooth operations. We can ensure that your workers always get paid justly.

Audit

We can audit your small business from top to bottom to find out everything going on with your financials, pointing out strong elements to build on while finding potential faults worthy of correction.

Why Choose Our Small Business Accounting Services

You have no shortage of options for small business accounting services, so why choose Lewis.cpa? Here are four reasons why.

Our SME Accounting Process

Our accounting process is here to serve you, your small business, and your needs and goals. Knowing the outline of that process helps you understand how we do things.

SMBs Accounting FAQs

Certain questions you might have about small business accounting might be among the queries we frequently answer anyway.