Emerson & Associates, PC — Tax Preparation & Accounting

Tax Preparation · Accounting · Advisory

Tax Preparation, done the way it was meant to be.

For over forty years, Emerson & Associates has prepared taxes and managed accounting for small businesses, contractors, and individuals across the county. Real CPAs. Real review. No surprise invoices at the end.

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"I have used Emerson & Associates for over a decade. Their attention to detail and proactive approach has saved my business thousands. I recommend their services without reservation."

Mike Smith — Owner, Smith Construction Co. · Client since 2012

Avg. Small Business Deductions

By category · 2024 filings

Payroll32%
Operations24%
Vehicle18%
Office14%
Meals12%

§ Tax Cuts and Jobs Act — Still in effect

The 2018 tax reform changed almost everything.

The Tax Cuts and Jobs Act of 2018 was the largest overhaul of the U.S. tax code in three decades. Seven years later, most of its provisions are still in effect — and many small business owners are still not taking full advantage of them.

20%

QBI deduction available to pass-through entities — S-corps, partnerships, sole proprietors.

21%

Flat corporate tax rate, down from the previous graduated structure up to 35%.

$10K

SALT deduction cap on state and local taxes — still a planning consideration.

100%

Bonus depreciation on qualified property — phasing out 20% per year starting 2023.

§ 01 — What we do

Six practice areas, one firm.

We're generalists by design — most of our clients need three or four of these services in combination. The list below isn't exhaustive; if you don't see your situation, call us. If we can't help, we'll tell you who can.

Construction & Contractor Accounting

Percentage-of-completion, surety bond filings, certified payroll reports. We work with excavators, electricians, plumbers, and GCs across the region — most have been with us 10+ years.

Percentage-of-completion Certified payroll Surety

ii.

Small Business Accounting

Monthly bookkeeping, financial statements, and the year-end package your banker actually wants to see. QuickBooks ProAdvisor firm — we set it up, train your staff, and review it quarterly.

QuickBooks ProAdvisor Monthly close Bank-ready

iii.

Tax Preparation & Planning

Business and individual returns — 1040, 1120-S, 1065, 1041, 990. The return is the output; the work happens October through December, when there's still time to change the answer.

1040 · 1120-S · 1065 Multi-state Trusts & estates

iv.

Payroll Services

Full-service payroll for 1–75 employees. Quarterly filings, W-2s, 1099s, workers' comp audits. We handle the setup and the reconciliation — not just forwarding a third-party report.

1–75 employees Quarterly filings W-2 / 1099

IRS Representation & Resolution

Notices, audits, offers in compromise, installment agreements. If you've received a CP2000 or a certified letter, call us before you respond. The first conversation is usually free.

Audit defense Offers in compromise Installment agreements

vi.

Business Advisory & Succession

The unbillable conversations: buying a building, taking on a partner, selling the company. We bill hourly for these because they're worth more than a monthly retainer implies.

Hourly Succession planning Buy/sell

§ 02 — Who we serve

Individuals and businesses.

Roughly half our practice is small businesses, half is individuals and families. Many of our individual clients are the owners of the businesses we serve — which is how it should work.

For Individuals

Personal tax preparation and planning for W-2 employees, retirees, investors, and the owners of the businesses we serve.

1040 preparation — all states
Stock options & equity comp
Rental property schedules
Roth conversion planning
Estate & trust returns (1041)
Multi-state filings

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For Businesses

Accounting, payroll, tax, and advisory for small-to-mid-size businesses — typically $500K to $20M in revenue.

Construction & trades
Medical & dental practices
Restaurants & hospitality
Professional service firms
Real estate & rentals
Family-owned & multi-generational

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Mike Smith on the job site — Smith Construction Co.

I have used Emerson & Associates for over a decade. Their attention to detail and proactive approach has saved my business thousands of dollars. I recommend their services without reservation to anyone who will listen.

Mike Smith

Owner · Smith Construction Co.

12 yrs client

§ 03 — Get in touch

Call, email, or stop by the office.

We answer our own phones. If you're shopping for a new CPA, tell us a little about your situation — we'll tell you honestly whether we're a fit, and if we're not, who is.

Office

218 Main Street, Suite 4
Springfield, IL 62701

Phone

(800) 555-1234

info@emersoncpa.com

Hours

Mon–Fri, 8:30a–5:30p
Evenings by appointment during tax season.