Welcome to Weltman Bernfield, a certified public accounting and business consulting firm located in the Chicago suburb of Buffalo Grove. We serve clients across the country, offering the expertise of a large CPA firm with the benefits of personalized service. Our accountants‘ combination of education, experience and ongoing training means clients consistently receive efficient service and value. We provide a full range of services, including audit and attest, tax, valuations and more.
We are thrilled to be named a Daily Herald 2015 Readers’ Choice “TOP PICK” in the “Best Tax Preparation Service” category. This is the second time we have received a Readers’ Choice award.
Thousands of readers participated in this year’s three-week Readers’ Choice campaign, which is intended to identify top businesses in the Chicago area in a wide range of categories . Over 22,000 votes were received. The businesses receiving the most votes in each category are judged to be the “top picks” and are featured in a special insert in the March 27 issue. The Daily Herald is the third largest daily newspaper in Illinois and serves over 100 communities from Antioch to Naperville, from Des Plaines to western Kane County.
Thank you to everyone who voted. We look forward to continuing to provide the expertise of a large CPA firm with the benefits of personalized service — for all of your accounting needs!
Josh works in the audit department at Weltman Bernfield. He received his bachelor’s degree from University of Illinois at Urbana-Champaign in 2008, successfully completed the University of Illinois School of Business Certified Public Accountant Certificate Program in 2009 and started his career at Weltman Bernfield in January 2010.
March 2015 General Client Newsletter
Tax Season Reminders
Tax season is a hectic time. Here are a few tips:
- Let us know as soon as possible if you need to file an extension. If you don’t think you can meet the deadline for filing, an extension gives you six more months to file without incurring late-filing penalties. March 16 is the deadline for filing corporate tax returns or extensions; April 15 is the deadline for individual tax returns or extensions. When filing an extension, you must make a reasonable estimate and pay any outstanding amount when you submit the extension form; otherwise, you could end up owing late-payment penalty charges.
- Contribute to your retirement accounts. You have until April 15, 2015, to contribute to your traditional or Roth IRA for 2014. The maximum IRA contribution for 2014 is $5,500 ($6,500 if you were age 50 or older by the end of 2014). Your traditional IRA contributions may be tax-deductible; however, the deduction may be limited if you or your spouse participate in a retirement plan at work and your income exceeds certain levels. Contact your tax advisor if you have questions about eligibility, or visit www.irs.gov.
- Evaluate your situation for 2015. This is a good time to evaluate your financial situation and investment options. Set up an appointment with your tax advisor to discuss how you can minimize your exposure in 2015.
Be sure to contact your advisor if you have any questions. We are here for you.
Also in this month’s issue:
John is a tax accountant at Weltman Bernfield and received his bachelor’s degree in accountancy from Northern Illinois University – College of Business. He started his career at Weltman Bernfield in September 2012.
This year, Weltman Bernfield is pleased to share tax tips on Chicago’s News Radio AM 560 The Answer.
Can’t tune in to hear them? Our tax tips are also available on www.560taxtips.com.
February 2015 General Client Newsletter
If you are receiving a tax return, you will probably have to wait a little bit longer this year for the money. The IRS is expecting delays due to budget cuts; however, they do offer a tool to check the status of your federal return at www.irs.gov/Refunds. The State of Illinois is also expecting processing delays due to new security measures to avoid identity theft.
Be sure to contact your advisor if you have any questions concerning your tax return. We are here for you.
Also in this month’s issue:
- How Does the 3.8% NII Surtax Work?
- Big Benefits Through 401(k) Accounts
- Seven Top Employment Issues in 2015
- Searching for Miscellaneous Expense Deductions
- February 2015 QuickBooks Newsletter – Make Your Preferences Known in QuickBooks
- February 2015 QuickBooks Tip
- Accounting Intern Scholarship Program