Balancing accounting and tax needs on your own can be complicated enough when it’s just you working as a full-time employee for a corporation. When you’re a self-employed individual or contractor, accounting and tax planning becomes increasingly more complex. At MAT Accountants & Advisors we are experienced CPAs who specialize in accounting services for individual contractors  and the self-employed working and living in downtown Chicago, IL.

Our individual accounting services help self-employed professionals in the art industry of Chicago avoid overpaying their taxes and make better financial decisions for their self-run businesses. MAT Accountants & Advisors specializes in accounting for those in the entertainment sector, such as artists, actors, photographers, and restaurant owners.

Individual Tax Planning and Preparation

If you’re self-employed, or are working as a contractor, you’re likely receiving 1099 income, where taxes are not taken out of your paycheck. Many self-employed individuals in this situation find that they owe a large amount of money in taxes at the end of the year and aren’t sure how to pay what is due to the IRS.

Our individual tax planning and preparation services are designed to help account for your earnings in a way that makes sense. We often encourage self-employed professionals and small business owners to incorporate their businesses, so you can pay yourself through your new organization and be more flexible in how you manage your taxes. With help from our Chicago CPA, you can have taxes taken out at the right time, and avoid owing the IRS a significant lump sum at the end of the year. 

Incorporating your Business for a Successful Tax Season

If you’ve made the choice to incorporate your individual business to manage your tax payments, we guide you through the entire incorporation process. MAT Accountants & Advisors helps self-employed individuals and contractors create LLCs and obtain employer identification numbers for tax filing purposes. When you decide to make the next step for your business, we can also help you become an S-Corp for even smarter tax planning and filing in the years to come.

Payroll Services for the Self-Employed

After mapping out your tax plan and incorporating your self-run business, our Chicago business accounting firm also provides payroll preparation and processing. Paying yourself through your new LLC is smart for tax reasons, but how do you go about doing that? Our CPAs set up efficient payroll processes that allow you to receive your wages in a timely manner, with all taxes taken out according to state and federal regulations; you don’t have to worry about owing the IRS money in unpaid taxes.

Get Individual Accounting Help – Contact our Chicago CPA Firm

Our accounting services are perfect for contractors and self-employed professionals who are looking for a smarter way to pay themselves and the IRS.  MAT Accountants & Advisors provides individual accounting help for artists, actors, photographers, and other self-employed individuals in downtown Chicago. Contact our office today to learn more about how we can help you.