CpaTax Services Inc

CpaTax Services Inc Individual and Business Taxes, Tax Planning, IRS Representation CPATAX SERVICES, INC. assists in all phases of its client’s business – from start-up to wind-up.

is professional consulting firm dedicated towards serving the business needs of its clientele. At CPATAX SERVICES, INC., we believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that

the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. ...
09/02/2026

Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. For example, owning an asset together as “joint tenants with right of survivorship” can open up transfer tax exposure. If you add your child to the title of property you already own, it may be considered a taxable gift of half the property’s value. And when you die, half of the property’s value will be included in your taxable estate. A properly designed trust can be a more tax-efficient option. Call us at (847) 439-0250 for details.

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce v...
09/01/2026

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce very different tax results depending on the charity’s use of the item. If the use directly supports the organization’s mission — such as an antique donated to a museum for its collection — you may be able to deduct fair market value. But if the item will be used for another purpose, such as being sold at a fundraising auction, your deduction may be limited to what you originally paid for it. Contact us at (847) 439-0250 before making a donation to discuss your potential deduction and the applicable substantiation requirements.

Are your bills piling up? Managing accounts payable can be challenging for small businesses — especially when payment ob...
08/31/2026

Are your bills piling up? Managing accounts payable can be challenging for small businesses — especially when payment obligations aren’t clearly tracked. QuickBooks Online tools can help by organizing upcoming bills, automating bill entry, and simplifying electronic or check payments. Stronger payables management may reduce missed deadlines and late fees and improve cash flow visibility. We can help your business use QuickBooks Online more efficiently and streamline your payables process. Contact us at (847) 439-0250 to learn more.

Happy Birthday to our beautiful and generous Boss Lady! 💐 Wishing you a wonderful day filled with happiness and joy. Enj...
08/29/2026

Happy Birthday to our beautiful and generous Boss Lady! 💐 Wishing you a wonderful day filled with happiness and joy. Enjoy your special day! 🎂🥳

Meet the Team! Get to know the team behind CPATAX Services. We’re here to serve and support you every step of the way! ☺...
08/28/2026

Meet the Team! Get to know the team behind CPATAX Services. We’re here to serve and support you every step of the way! ☺️

Our new office is now open! We’re pleased to welcome you to our new location and look forward to serving you from our ne...
08/28/2026

Our new office is now open! We’re pleased to welcome you to our new location and look forward to serving you from our new space. Come and visit us!

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of...
08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at (847) 439-0250 for more information.

Whether your business sponsors a 401(k) plan or is considering it, automatic enrollment deserves a fresh look. This feat...
08/26/2026

Whether your business sponsors a 401(k) plan or is considering it, automatic enrollment deserves a fresh look. This feature automatically enrolls eligible employees in the plan unless they opt out or choose a different contribution rate. Under the SECURE 2.0 Act, many 401(k) plans established on or after December 29, 2022, must include an auto-enroll feature for plan years beginning after December 31, 2024. (Some exceptions may apply.) Older plans generally aren’t required to add this feature, but doing so can benefit both employers and employees. Call us at (847) 439-0250 for more information.

Whether you’re a first-time homebuyer or a long-time homeowner, mortgage interest may save you taxes. If you itemize ded...
08/25/2026

Whether you’re a first-time homebuyer or a long-time homeowner, mortgage interest may save you taxes. If you itemize deductions rather than claim the standard deduction, interest you pay on mortgage debt to buy, build or substantially improve a primary or second home generally is deductible. Points paid related to your primary residence may also be deductible. Beginning in 2026, mortgage insurance premiums potentially can be deducted as mortgage interest. The $750,000 debt limit for most mortgage debt incurred after Dec. 15, 2017, is now permanent. Contact us at (847) 439-0250 to discuss your tax situation.

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about fut...
08/24/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at (847) 439-0250 to discuss whether a SLAT makes sense for you.

Address

500 Park Boulevard
Itasca, IL
60143

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 12pm

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