TAXFLO

TAXFLO is a Des Plaines, IL-based accounting firm serving small businesses and individuals throughout Chicagoland and across the country. Established in 2006, we deliver tax preparation, bookkeeping, payroll, and business consulting services with the personal attention of a boutique firm and the technical depth of a much larger one.

Our Approach. Tax legislation changes constantly, and technology has reshaped how accounting work gets done. We make it a point to stay ahead of the curve, offering custom-tailored solutions for individual taxpayers and small business owners — not one-size-fits-all packages. Whether you're a sole proprietor, a growing LLC, an S-corp, or a partnership, our team meets you where you are.

Core Services. Tax Preparation — Federal and multi-state returns for individuals (1040), S-corporations (1120-S), partnerships (1065), C-corporations (1120), and trusts (1041), including complex situations like multi-state filings, expat returns, real estate professional designations, §1031 exchanges, installment sales, and Illinois PTE elections.

Bookkeeping — Monthly bookkeeping in QuickBooks Desktop and QuickBooks Online: bank reconciliation, transaction categorization, financial statement preparation, and clean-up engagements

Payroll — Payroll setup, ongoing administration, W-2 and 1099 preparation, and quarterly tax filings through ADP. Business Consulting — Entity formation, S-election timing, tax planning, retirement plan structuring, and year-round advisory for owners navigating growth and transition. Industry Focus. While we serve a wide range of small businesses, we have particular depth in restaurant and hospitality accounting — including Toast POS reconciliation, Illinois ST-1 sales tax, marketplace facilitator handling, tip reporting, and §45B FICA Tip Credit (Form 8846) optimization.