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Filing taxes presents several challenges for anyone. However, self-employed people must consider additional tax liabilities, potential deductions, record-keeping, and more. If you feel lost on your self-employment taxes, don’t stress. Reach out for tax preparation service by Odoni Partners in Chicago today. In the meantime, brush up on important tax filing tips and tricks for…

You may have come across the terms “direct” and “indirect” when preparing a cash flow statement. These are two different methods used for this purpose, and the main difference between the two is how accountants prepare cash flow statements from operating activities. Tax accounting professionals in Chicago, Odoni Partners, LLC, expound on using direct vs….

In the freelance or small business world, late invoices are frustrating at the least and highly problematic at the worst. As a freelancer or small business owner, it’s essential to business that invoices are paid on time so that employees can be paid, bills will be on time, and so forth. Thus, implementing a process for charging late fees can deter customers from paying their invoices late.

Outsourcing accounting has many benefits that can help business owners, such as providing competent help and lessening the workload. However, as with any outsourcing, understanding a few key details can help you choose the best accounting team for your needs. The accountants in Chicago, Illinois, from Odoni Partners LLC, can explain what you need to…

When re-investing, it is wise to find the best tools to get the job done correctly. In order to alleviate some tax liability, implementing cost segregation has the potential to vastly minimize taxes due.

In the early hours of January 1, 2013, the Senate passed, by an 89-8 vote, the American Taxpayer Relief Act of 2012 (P.L. 112-240), which, along with many other provisions, permanently extends the so-called Bush-era tax cuts for low- and middle-income individuals.

Why Contribution Margin is an Important KPI What is a KPI? Key Performance Indicators, or KPI’s as they are known in the business world, are critical to a business’s success. Key Performance Indicators are a critical indicator of progress toward an end result or goal in business. These KPI’s illustrate a business’s strengths and areas...

The auto dealership industry is already a competitive and confusing market to begin with, so it’s even more frustrating when you miss out on hard-earned money you’ve worked for.

The Patient Protection and Affordable Care Act (P.L.111–148), (as amended by the Health Care and Education Reconciliation Act of 2010 (Pub.L. 111-152), contains a 3.8% net investment income tax (NIIT), that will impact estate and trusts, starting in 2013.