Abendroth Accounting & Tax Services, Inc.

Abendroth Accounting & Tax Services, Inc. Our business counts on
Your Success Abendroth Accounting & Tax Services, Inc is licensed in IL and specializes in Payroll.

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work to...
06/01/2026

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work together to support your goals today and protect your legacy tomorrow. We can help you bring it all together with a coordinated strategy to reduce taxes, build retirement savings and achieve your estate planning objectives. Contact us at 708-864-4071.

Are you 65 or older and considering a seasonal or part-time job this summer? The extra income can be rewarding, but it m...
06/01/2026

Are you 65 or older and considering a seasonal or part-time job this summer? The extra income can be rewarding, but it may also change your tax picture. Individuals age 65 or older may qualify for a higher standard deduction, which could reduce taxes on modest earnings. But if you’re receiving Social Security benefits, additional wages can make more of your benefits taxable and may push some of your income into a higher tax bracket. Social Security and Medicare (F**A) taxes still apply to most wages, even after retirement. Before saying “yes” to that extra gig, review how the added income could affect your tax situation. A little planning now can help you avoid surprises later. Call us.

Using social media platforms is a quick and easy way to glean tax-related information and advice. However, it can be dif...
05/30/2026

Using social media platforms is a quick and easy way to glean tax-related information and advice. However, it can be difficult to gauge the accuracy of the information available online. Our firm is one source of trusted information. Another is the IRS. Consider following its official social media accounts (https://bit.ly/4dVN1KP) and subscribing to its e-News subscription service. Among other things, subscribers can opt to receive IRS Tax Tips that are written in plain language on a range of general interest tax topics. If you’re a small business owner or a self-employed individual, the IRS offers e-News for small businesses. For more information: https://bit.ly/3Q8ARWY

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain busin...
05/29/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at 708-864-4071 to discuss whether this change will affect your company and how to plan accordingly.

Taxpayers can now access their Section 530A accounts (also known as “Trump Accounts”) and submit and view the status of ...
05/29/2026

Taxpayers can now access their Section 530A accounts (also known as “Trump Accounts”) and submit and view the status of Form 4547, “Trump Account Election(s),” through their IRS individual online accounts. A Sec. 530A account can be set up for any U.S. citizen who’ll be under age 18 at the end of the tax year and who has a Social Security number. Generally, annual contributions of up to $5,000 can be made until the year the beneficiary turns age 18. U.S.-citizen children born from Jan. 1, 2025, through Dec. 31, 2028, can potentially qualify for an initial $1,000 government-funded deposit. Contributions aren’t deductible, but earnings grow tax-deferred as long as they’re in the account. Contact us for details.

Recently, the U.S. Treasury Dept. provided some details about the forthcoming revised IRS Form 990 (an information retur...
05/29/2026

Recently, the U.S. Treasury Dept. provided some details about the forthcoming revised IRS Form 990 (an information return used by tax-exempt organizations). Among other things, the new form will require clearer reporting on fiscal sponsorships. These occur when nonprofits provide an administrative umbrella for new charitable projects, sparing them the burden of immediately obtaining tax-exempt status themselves. The new Form 990 is also likely to request more information on foreign activities, particularly details on international donors. Nonprofits can start preparing for these changes by increasing documentation and improving recordkeeping.

For 2026, the federal gift and estate tax exemption is $15 million — effectively $30 million for a married couple. “Port...
05/28/2026

For 2026, the federal gift and estate tax exemption is $15 million — effectively $30 million for a married couple. “Portability” allows any unused portion of a deceased spouse’s exemption to be transferred to the surviving spouse. But it isn’t automatic. The executor must timely file a properly completed estate tax return. Even if no estate tax is due on the first spouse’s death and it doesn’t look like the surviving spouse’s estate will exceed the exemption, making the portability election is a good idea. Doing so can help protect the survivor’s estate from estate taxes if he or she enjoys an unexpected windfall or if tax law changes reduce the exemption. For more information, contact us.

If you operate a sole proprietorship or a partnership where you and your spouse are the only partners, you might want to...
05/28/2026

If you operate a sole proprietorship or a partnership where you and your spouse are the only partners, you might want to consider employing your child this summer. In addition to providing valuable work experience and enabling your child to start contributing to a tax-advantaged IRA, you can save payroll taxes. Wages you pay to your children under age 21 are exempt from FUTA tax. If they’re under age 18, their wages are also exempt from F**A tax. In addition, because wages paid to your child are considered a business expense, you can reduce your self-employment income (and, thus, reduce your income tax). Your child will likely be subject to less (if any) income tax.

If you own foreign assets and fail to properly address them in your estate plan, unexpected tax outcomes can result. For...
05/27/2026

If you own foreign assets and fail to properly address them in your estate plan, unexpected tax outcomes can result. For example, if you’re a U.S. citizen, your worldwide assets are potentially subject to federal gift and estate taxes, regardless of where you live or where the assets are located. So, if you own assets in other countries and the assets are subject to estate, inheritance or other death taxes in those countries, there’s a risk of double taxation. Call us at 708-864-4071 to learn more about how to properly account for foreign assets in your estate plan.

The IRS has issued guidance (Notice 2026-33) on qualified long-term care (LTC) distributions from defined contribution r...
05/27/2026

The IRS has issued guidance (Notice 2026-33) on qualified long-term care (LTC) distributions from defined contribution retirement plans, such as 401(k)s. If a plan permits, distributions made after Dec. 29, 2025, to pay LTC insurance premiums are exempt from the 10% early withdrawal penalty but included in gross income. Distributions are limited to the lesser of the insurance premium paid, 10% of the employee’s vested plan benefit or $2,600 (adjusted for inflation after 2026). The guidance also extends the deadline for plan administrators to amend plans to permit LTC distributions to Dec. 31, 2027.

Address

7060 Centennial Drive, Unit 105
Tinley Park, IL
60477

Opening Hours

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

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