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Roosevelt Tax & Accounting

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Roosevelt Tax & Accounting

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Roosevelt tax service is a community based Tax and Accounting firm. Our goal is to provide our community with exceptional
services & a valued experience.

We specialize in Individual and Business Tax Returns,Trust & Estate Tax Returns, QuickBooks,
Payroll.

10/21/2026

⭐ REAL CLIENT. REAL RESULTS. REAL $7,500.

Don't just take our word for it. Here's what one of our clients recently shared:

🗣️ "I was behind on rent and my car needed repairs. Roosevelt Tax got me approved for a $7,500 Refund Advance the SAME DAY. I paid my rent, fixed my car, and finally slept through the night. Life-changing." — Verified Client, Chicago

💡 THIS COULD BE YOU.

Our Refund Advance Program helps hardworking people get the money they need—without waiting weeks for the IRS.

✅ UP TO $7,500
✅ NO UPFRONT COST for qualifying applicants
✅ FAST APPROVAL – often same day
✅ NO JUDGMENT – just help

📞 READY TO WRITE YOUR OWN SUCCESS STORY?

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "STORY" and we'll help you get started!

10/20/2026

🤔 WHAT WOULD YOU DO WITH AN EXTRA $7,500 RIGHT NOW?

We're curious! If you could get your tax refund money upfront—up to $7,500 before your refund even arrives—what would be the FIRST thing you'd do?

👇 VOTE IN THE COMMENTS:

🚗 A) Fix or upgrade my car
🏠 B) Pay off bills / catch up
🌊 C) Take a family vacation
💼 D) Invest in my business

💡 THE BEST PART?
You don't have to wait for the IRS. Our Refund Advance Program lets you access up to $7,500 as soon as you're approved.

✅ No upfront cost for qualifying applicants
✅ Fast approval – often same day
✅ Repaid from your refund

📞 READY TO CLAIM YOURS? CALL US TODAY!

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment A, B, C, or D – then message us to check your eligibility!

10/17/2026

⏳ IRS STATUTE OF LIMITATIONS: HOW LONG CAN THEY AUDIT OR COLLECT?

Many taxpayers don't realize the IRS doesn't have unlimited time to pursue you. Here's how long they have – and what resets the clock.

📌 AUDIT STATUTE: 3 YEARS

The IRS generally has 3 years from the date you file (or the due date, whichever is later) to audit your return.

⚠️ EXCEPTIONS THAT EXTEND THE WINDOW:
• 6 years – If you underreported income by more than 25%
• Unlimited – If you filed a fraudulent return or didn't file at all

📌 COLLECTION STATUTE: 10 YEARS

The IRS has 10 years from the date of assessment to collect unpaid taxes. After that, the debt expires – unless:
• You file for bankruptcy (extends the period)
• You request a payment plan (extends while in effect)
• You leave the country for 6+ months
• You file an Offer in Compromise

📌 REFUND STATUTE: 3 YEARS

If you're owed a refund, you generally must claim it within 3 years of the filing deadline. After that, the money is gone.

📌 AMENDED RETURN STATUTE: 3 YEARS

You can amend a return within 3 years of the original filing date to claim missed deductions or credits.

💡 WHAT THIS MEANS FOR YOU:
• If you filed accurately and on time, your 3-year window may already be closing.
• If you owe back taxes, the IRS has 10 years – but you have options.
• If you missed a refund, you have 3 years to claim it.

📞 NEED HELP WITH AN OLD TAX ISSUE? LET'S TALK.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "STATUTE" and we'll review your situation confidentially!

10/16/2026

🎖️ MILITARY TAX BENEFITS: WHAT VETERANS & ACTIVE DUTY NEED TO KNOW

If you serve or have served, you may qualify for special tax benefits. Here's what to look for:

📌 COMBAT PAY EXCLUSION
• Enlisted members, warrant officers, and commissioned officers can exclude combat pay from gross income.
• Officers: exclusion limited to the highest enlisted rate.

📌 MOVING EXPENSES
• Active duty moving due to permanent change of station? Moving expenses may be deductible.
• Military spouses: moving due to service member's orders may also qualify.

📌 RESIDENCY RULES
• Military members can keep their home state residency for tax purposes, even if stationed elsewhere.
• This can save thousands in state income taxes.

📌 VA BENEFITS
• VA disability benefits are tax-free.
• VA pensions may be partially taxable.
• VA home loan funding fees are deductible in some cases.

📌 EDUCATION BENEFITS
• G.I. Bill benefits are generally tax-free.
• Tuition assistance and ROTC scholarships may also be tax-free.

📌 RETIREMENT & SAVINGS
• Thrift Savings Plan (TSP) contributions reduce taxable income.
• Combat zone service may allow extra contributions to IRAs.

📌 HOMEOWNER BENEFITS
• VA home loans often have no down payment – and interest is deductible.
• Property tax exemptions may be available for disabled veterans.

📞 WE HONOR YOUR SERVICE. LET US HELP WITH YOUR TAXES.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "VETERAN" and we'll review your military tax benefits!

10/15/2026

🚗 BUSINESS VEHICLE DEDUCTIONS: STANDARD MILEAGE VS. ACTUAL EXPENSES

If you use your car for business, you have two ways to deduct it. Choosing the right one can save you thousands.

📌 STANDARD MILEAGE METHOD

✅ 2025 rate: 70¢ per mile
✅ Simple to track – just log your miles
✅ No need to save every gas receipt
✅ Can switch to actual expenses later (with restrictions)

📌 Best for: Most small business owners, especially those with newer, fuel-efficient vehicles.

📌 ACTUAL EXPENSE METHOD

✅ Deduct actual costs: gas, oil, repairs, insurance, tires, depreciation
✅ Can be more valuable for expensive or older vehicles
✅ Requires detailed records of every expense

📌 Best for: Business owners with high vehicle costs, older vehicles, or heavy vehicles (over 6,000 lbs).

📊 EXAMPLE: 15,000 BUSINESS MILES

• Standard Mileage: 15,000 × 70¢ = **$10,500 deduction**
• Actual Expenses (if you spent $12,000 total): Business-use percentage (say 75%) = $9,000 deduction

📌 In this case, standard mileage wins.

📌 RECORDKEEPING IS KEY

Whichever method you choose, you must track:
• Date and destination of each trip
• Business purpose
• Total miles for the year
• Business vs. personal use percentage

📞 NEED HELP DECIDING? WE'LL RUN THE NUMBERS.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "MILEAGE" and we'll help you choose the best method!

10/14/2026

⏰ WHAT HAPPENS IF YOU DON'T FILE YOUR TAXES? THE TIMELINE NO ONE WANTS TO EXPERIENCE.

Missing the tax deadline can feel scary. But avoiding it doesn't make it go away – it makes it worse. Here's what happens month by month:

📅 APRIL 15 – THE DEADLINE PASSES
• Failure-to-file penalty: 5% of unpaid tax per month (up to 25%)
• Failure-to-pay penalty: 0.5% per month
• Interest starts accruing daily

📅 JUNE 1 – 2 MONTHS LATE
• Penalty now at 10% and growing
• IRS may send first notice

📅 SEPTEMBER 1 – 5 MONTHS LATE
• Penalty caps at 25%
• IRS sends urgent notices
• Collection actions may begin

📅 DECEMBER 1 – 8 MONTHS LATE
• IRS may file a Notice of Federal Tax Lien (hurts credit)
• Levy warnings issued
• Passport may be at risk if you owe $59,000+

📅 NEXT YEAR – ONGOING
• Wage garnishment
• Bank account levies
• Asset seizure
• Passport revocation
• Criminal charges (in extreme cases)

✅ THE GOOD NEWS:
We can help you file late returns, reduce penalties, and get back into compliance – no judgment, just solutions.

📞 CALL US TODAY – THE SOONER YOU ACT, THE BETTER.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "LATE" and we'll help you get back on track!

10/13/2026

👨‍👩‍👧 PUT YOUR FAMILY ON PAYROLL – LEGAL, SMART, AND TAX-EFFICIENT!

If you own a business, hiring your children or spouse can be one of the most powerful tax strategies available. Here's how it works:

📌 HIRING YOUR CHILDREN (UNDER 18)

✅ No Social Security or Medicare tax – If your child is under 18 and you're a sole proprietor or LLC taxed as a sole prop, you don't pay F**A on their wages.
✅ No federal unemployment tax – Until they turn 21.
✅ Wages are tax-deductible – Reduce your business income.
✅ Child pays no tax – Up to $15,000 in 2025 (standard deduction) is tax-free for them.
✅ Roth IRA contributions – They can contribute to a Roth IRA, building tax-free wealth.

📌 Example: Pay your child $14,000/year to do legitimate work (social media, filing, cleaning). You deduct $14,000. They owe $0 tax. You save thousands.

📌 HIRING YOUR SPOUSE

✅ Income shifting – Move income from your higher bracket to their lower bracket.
✅ Fringe benefits – Health insurance, retirement plans, and more.
✅ Two retirement accounts – Double the contribution limits.
✅ Social Security credits – Builds their future benefits.

⚠️ IMPORTANT RULES:
• Work must be real and necessary
• Pay must be reasonable for the work
• Keep timesheets and records
• Issue a W-2 (not 1099) for employees

📞 WANT TO EXPLORE THIS STRATEGY? LET'S TALK.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "FAMILY" and we'll schedule a consultation!

10/09/2026

💰 TAX CREDITS YOU MIGHT BE MISSING – DON'T LEAVE MONEY ON THE TABLE!

Most taxpayers know about the Child Tax Credit. But there are dozens of other credits that could put money back in your pocket. Here are some of the most overlooked:

📌 SAVER'S CREDIT
• Up to $1,000 ($2,000 married) for retirement contributions
• For low-to-moderate income taxpayers
• Available even if you don't itemize

📌 EARNED INCOME TAX CREDIT (EITC)
• Up to $7,830 for families with 3+ children
• Fully refundable – you get it even if you owe no tax
• 1 in 5 eligible taxpayers miss it

📌 AMERICAN OPPORTUNITY TAX CREDIT (AOTC)
• Up to $2,500 per student for college
• 40% refundable
• For the first 4 years of higher education

📌 ADOPTION CREDIT
• Up to $15,950 per child in 2025
• For qualified adoption expenses
• Non-refundable but carries forward

📌 ENERGY EFFICIENCY CREDITS
• 30% for solar panels (no dollar limit)
• Up to $2,000 for heat pumps
• Up to $1,200 for windows, doors, insulation

📌 PREMIUM TAX CREDIT
• For health insurance through the Marketplace
• Reduces monthly premiums
• Based on income and family size

📌 CHILDCARE CREDIT (CDCC)
• Up to $3,000 for one child, $6,000 for two+
• Credit is 20-35% of qualifying expenses
• For childcare so you can work

💡 MANY CREDITS ARE REFUNDABLE – MEANING YOU GET MONEY BACK EVEN IF YOU OWE NOTHING.

📞 LET'S MAKE SURE YOU'RE CLAIMING EVERYTHING YOU DESERVE.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "CREDITS" and we'll review your eligibility!

10/08/2026

🤝 RUNNING A NON-PROFIT? STAY COMPLIANT, STAY FOCUSED ON YOUR MISSION.

Non-profits have unique tax obligations. Missing a filing can jeopardize your 501(c)(3) status – and the donations you rely on.

📌 KEY FILING REQUIREMENTS:

📄 FORM 990 – Annual information return (due 15th day of 5th month after fiscal year-end)
📄 FORM 990-EZ – For smaller organizations (gross receipts under $200,000)
📄 **FORM 990-N (e-Postcard)** – For very small organizations (under $50,000)
📄 FORM 1023 – Application for 501(c)(3) status
📄 STATE CHARITABLE REGISTRATION – Required in Illinois for soliciting donations

⚠️ WHAT HAPPENS IF YOU DON'T FILE?
• $20/day penalty (up to $10,000 or 5% of gross receipts)
• Automatic revocation of tax-exempt status after 3 consecutive years
• Loss of donor confidence

✅ HOW WE HELP:
• Prepare and file Form 990, 990-EZ, or 990-N
• Maintain your tax-exempt status
• Track state and federal deadlines
• Advise on unrelated business income (UBIT)
• Ensure board governance compliance

📞 LET'S TALK ABOUT YOUR NON-PROFIT'S NEEDS.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "NONPROFIT" and we'll reach out to discuss your organization!

10/07/2026

📋 TAX FORMS CHEAT SHEET – SAVE THIS POST FOR REFERENCE!

Tax season brings a flood of paper (and PDFs). Here's your quick guide to what each form is – and what to do with it.

📌 INCOME FORMS:
• W-2 – Wages from an employer. Report all of them.
• 1099-NEC – Freelance/contractor income over $600.
• 1099-K – Payment app income (PayPal, Venmo, Uber).
• 1099-INT – Interest from banks.
• 1099-DIV – Dividends from investments.
• 1099-R – Retirement/pension distributions.
• 1099-G – Unemployment or state refunds.
• K-1 – Income from partnerships, S-corps, or trusts.

📌 DEDUCTION FORMS:
• 1098 – Mortgage interest paid.
• 1098-T – Tuition/education expenses.
• 1098-E – Student loan interest.
• 1095-A – Health insurance marketplace coverage.

📌 CONTRIBUTION FORMS:
• 5498 – IRA contributions.
• 5498-SA – HSA contributions.

📌 FILING FORMS:
• 1040 – Individual tax return.
• Schedule C – Business profit/loss.
• Schedule E – Rental income.
• Schedule A – Itemized deductions.

💡 PRO TIP:
Don't ignore any form that arrives in the mail or your inbox – the IRS gets a copy too. Report everything to avoid notices.

📞 HAVE QUESTIONS? WE'RE HERE TO HELP.

📍 ROOSEVELT TAX & ACCOUNTING
3851 W Roosevelt Rd, Chicago
📞 (773) 801-0023
🌐 roosevelttax.com

👇 Comment "FORMS" and we'll answer your tax form questions!

Address

3851 W Roosevelt Road
Chicago, IL
60624

Opening Hours

Monday	9am - 7pm
Tuesday	9am - 7pm
Wednesday	9am - 7pm
Thursday	9am - 7pm
Friday	9am - 7pm
Saturday	9am - 7pm
Sunday	10am - 5pm

Website

http://www.roosevelttax.com/

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