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Monday 9:30am - 7pm Tuesday 9:30am - 7pm Wednesday 9:30am - 7pm Thursday 9:30am - 7pm Friday 9:30am - 7pm Saturday 10am - 3pm

Ruman & Associates, Ltd.

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United States
Lombard, IL
Ruman & Associates, Ltd.

Ruman & Associates, Ltd. is a tax and accounting firm providing each client with the close attention

07/20/2026

Many business owners assume a profitable year automatically means a large tax bill. In reality, taxes are based on much more than profit alone.

Business structure, deductions, depreciation, tax credits, prior payments, and other factors can all affect what you ultimately owe. That is why tax planning requires a complete view of your financial picture, not just a glance at the bottom line.

Our team helps business owners look beyond profit and understand the factors driving their overall tax position. Let's talk!

07/16/2026

For high-income professionals, tax planning is rarely about finding a single deduction. It is usually the result of multiple strategies working together over time.

Retirement planning, business structure, deduction management, and income timing can all influence your overall tax picture. The earlier these conversations happen, the more opportunities there may be to improve outcomes.

A personalized tax strategy can help ensure your financial decisions are working together efficiently. Schedule a consultation to explore planning opportunities that align with your goals.

07/15/2026

Increased Standard Mileage Rates Starting July 1, 2026

Due to higher fuel prices, the IRS has increased the standard mileage rate for business driving to 76 cents per mile for mileage incurred on or after July 1, 2026. The rates for medical travel and eligible moving expenses have also increased to 23.5 cents per mile.

The charitable mileage rate remains unchanged at 14 cents per mile, while the previously announced 2026 rates continue to apply to mileage incurred before July 1.

07/14/2026

Keeping track of deductible expenses throughout the year does more than simplify tax season. It helps ensure important deductions are documented, supported, and less likely to be overlooked.

Organized records create a stronger foundation for accurate reporting and better financial visibility throughout the year.

Let us help you build a recordkeeping process that keeps your financial information organized and accessible when you need it most.

07/09/2026

Purchasing an electric vehicle for business use can come with valuable tax opportunities, but the rules are not always straightforward.

Eligibility may depend on factors such as the vehicle itself, how it is used, when it is placed into service, and the documentation you maintain. Planning before the purchase can help you make a more informed decision.

Thinking about adding a vehicle to your business? Send us a message and let’s review the potential tax implications before you buy.

07/08/2026

Paper documents can be misplaced. Digital records are easier to search, organize, and retrieve when you need them most.

Keeping electronic copies of receipts, invoices, tax documents, and other financial records can save time, support accurate reporting, and provide an extra layer of protection if physical copies are lost or damaged.

Need help creating a recordkeeping system that works for your business? Send us a message and let’s talk.

07/06/2026

Estimated tax payments are easy to overlook until a large balance shows up at filing time.

Tracking income, expenses, and payment deadlines throughout the year helps you stay ahead of your obligations and maintain healthier cash flow. A little planning now can prevent unnecessary penalties and surprises later.

Message us if you'd like to review your estimated tax strategy and make sure you're on the right track.

07/03/2026

Filing an extension can provide extra time to prepare your return, but it does not pause your tax obligation.

Any taxes owed are still due by the original deadline. Waiting to pay can result in interest and penalties, even if your extension request was approved.

Understanding the difference can help you avoid unnecessary costs and plan more effectively. If you're unsure how an extension affects your situation, we're here to help.

06/30/2026

Many business owners use space at home for work, but the tax treatment can depend on how that space is actually used.

Understanding the difference between a home office and a home administrative office helps support accurate reporting, proper deductions, and compliance with IRS requirements. Consistent and exclusive business use is a key factor for both.

If you’re unsure how your workspace should be classified, send us a DM and we’ll help you review your situation.

06/25/2026

Every business has that one accounting task that takes more time and energy than it should.

Is it bookkeeping, payroll, reconciliations, reporting, tracking expenses, or something else entirely? Share what part of your accounting process feels the most challenging for you.

Address

477 Butterfield Road Suite 500
Lombard, IL
60148

Opening Hours

Monday	9:30am - 7pm
Tuesday	9:30am - 7pm
Wednesday	9:30am - 7pm
Thursday	9:30am - 7pm
Friday	9:30am - 7pm
Saturday	10am - 3pm

Website

http://rumantax.com/

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