Tax Services

When it comes to the world of taxes, preparation and planning go a LONG way. We have the expertise and knowledge you are looking for in a tax professional and can help you navigate your options.

We’re happy to help you with any of these services:

Tax Preparation

Stop missing out on potential deductions that could be saving you big money!

Tax Planning

Real strategies and solutions to help you minimize your IRS liability.

IRS AUDIT Representation

Don’t go it alone! We’re your ally and representative in an IRS audit.

The Joys Of Providing Professional Tax Services To NW Chicago

Well, our primary work for this tax season in NW Chicago has just about wrapped up. But notice I said "primary", there ... you see, unlike some professional tax services in NW Chicago, we make it a point to do a bit more than simply "fill out forms" on your behalf....

Building Your Financial Strategy

There are 3 phases of the money cycle which should be the basis of your financial plan. The results of your long-term strategy should be to have built a foundation of assets that will provide income in your retirement years that will allow you to enjoy the life you...

Focus Training For Folks In NW Chicago

Now that we're into June, it really does feel like summer is here. The air conditioning kicks in, the days are hotter ... and, if you're like me, "focus" becomes something I have to set myself towards. It doesn't just "happen" -- especially when the days are hot. It...

3+ Reasons Why NW Chicago Taxpayers Might Need to File an Amended Return

Well, we did it. You did it. We made it through the tax busy season. Every year, when I shut our NW Chicago office door on April 15th (the 17th this year -- er, the 18th, because of the IRS "issues"), I feel a huge weight lift off of my shoulders. Going home that day...

IRS Form 4852: Timothy C. Wolfe PC Explains the Substitute for the W-2

Word on the tax professional "street" is that tax filing numbers are down across the board so far. That is from data released by software providers (though this year, of all years, I simply don't understand why somebody would use an over the counter software program),...

Timothy Wolfe’s Three Tips For Resisting Financial Process Automation

Did you see Google's demonstration of their new virtual assistant technology, Duplex, last week? If you did, like me, probably you were both amazed ... and a little bit terrified of the implications. Essentially, Google is close to figuring out how to make it so that...

3 More Reasons Why More NW Chicago Families Don’t Have Estate Plans

The Winter Olympics are finished and we are fully immersed in our tax preparation process. We've been enjoying the opportunity to reconnect with so many longtime friends from NW Chicago who trust us with their most sensitive financial details -- and we don't take that...

Tim Wolfe’s Three Big Tax Scams And How To Beware

Now we're cooking with gas.After weeks of reports that refunds were down, last week's data from the IRS shows a new trend. Although overall quantity of refunds are down, now the average refund is up 1.9%. After so many headlines to the contrary, I suppose that...

Timothy C. Wolfe, P.C.’s 2017 Tax Preparation Checklist

Lots of things have been changing recently -- from Academy Award ratings (they're down), to mortgage rates (which have been rising), to the effective tax rates for most businesses and families in 2018 (which, you may have heard, have changed!). But we here at Timothy...

Three Reasons Why NW Chicago Taxpayers Should File Taxes Early

As of this writing, the federal government is STILL in its partial shutdown.And 800,000+ people are affected -- including a whole slew of IRS workers who have been called in, regardless of paychecks, because come Trump or high water: tax filing will indeed begin on...

How You’re Missing Legal Tax Deductions

Here’s a certain truth: the State and Federal Government would love to have more of your hard-earned money in their accounts. Sure, even though it’s painful, none of us begrudge paying our legal and fair share of taxes.

But the problem is that regular taxpayers, like you, are missing out on legal and safe deductions, to the tune of hundreds of millions of dollars in unclaimed refunds every year!