What services does DWK Tax & Accounting offer?

DWK Tax & Accounting offers tax preparation and planning, bookkeeping, accounting, business advisory, and outsourced CFO services for individuals and small businesses in Wheaton, IL and DuPage County.

Where is DWK Tax & Accounting located?

DWK Tax & Accounting is based in Wheaton, Illinois, serving clients throughout DuPage County including Naperville, Glen Ellyn, Lisle, Downers Grove, and the greater Chicago suburbs.

Do you work with small businesses?

Yes. DWK Tax & Accounting specializes in serving small business owners, entrepreneurs, and growing companies who need more than basic tax compliance, including strategic advisory and fractional CFO support.

How do I schedule a consultation?

You can schedule a consultation by visiting https://dwkcpa.com/contact, calling (708) 369-0044, or emailing david@dwktaxaccounting.com.

Why do manufacturers need a specialized CPA?

Manufacturing accounting involves concepts that generic bookkeepers do not understand: cost of goods sold calculation (raw materials + direct labor + manufacturing overhead), work-in-progress valuation, finished goods inventory, equipment depreciation and Section 179 expensing, and production cost analysis. A CPA who understands manufacturing ensures your financials reflect true production costs and your tax strategy captures every manufacturing-specific deduction.

How is cost of goods sold calculated for manufacturers?

COGS for manufacturers includes three components: raw materials used, direct labor costs, and manufacturing overhead (factory rent, utilities, equipment depreciation, indirect labor). The formula is: beginning inventory + purchases/additions - ending inventory = COGS. Accurate COGS is critical because it directly affects your gross margin and tax liability. We set up the accounting system to track each component properly.

Can you help with equipment depreciation and Section 179?

Absolutely. Manufacturing equipment, machinery, tools, vehicles, and factory equipment, represents significant capital investment. Section 179 lets you expense the full purchase price in the year of purchase (up to limits), while bonus depreciation offers additional first-year expensing. We analyze which method minimizes your tax liability while aligning with your cash flow and growth plans.

What is work-in-progress (WIP) and why does it matter?

WIP is the value of goods that are partially complete at the end of an accounting period, raw materials that have entered production but are not yet finished goods. WIP must be valued and included in inventory on your balance sheet. Incorrect WIP valuation distorts your COGS, gross margin, and tax liability. We ensure WIP is tracked and valued accurately.

Do you handle R&D tax credits for manufacturers?

Yes. Manufacturers often qualify for the Research and Development tax credit for activities like developing new products, improving manufacturing processes, or creating prototypes. The credit can be significant, but it requires detailed documentation of qualifying activities and expenses. We identify qualifying activities and prepare the documentation needed to claim the credit.

Manufacturing

Manufacturing CPA & Accounting in Wheaton, IL

Manufacturing accounting is fundamentally different from retail or service accounting. The cost of goods sold includes raw materials, direct labor, and manufacturing overhead. Inventory spans raw materials, work-in-progress, and finished goods. Equipment depreciation and Section 179 decisions can shift tax liability by tens of thousands of dollars. DWK Tax & Accounting provides CPA services to manufacturers across Wheaton and DuPage County, ensuring every component of production cost is tracked accurately and every manufacturing-specific tax strategy is implemented.

What We Handle for Manufacturers

Cost of goods sold calculation and tracking

Raw materials, WIP, and finished goods inventory accounting

Equipment depreciation and Section 179 planning

Production cost analysis and margin tracking

R&D tax credit identification and documentation

Manufacturing overhead allocation

Job and process costing setup

Business and personal tax preparation

QuickBooks manufacturing configuration

Cash flow planning for production cycles

True Production Cost Visibility

A manufacturer cannot price products competitively without knowing the true cost of production. If overhead is misallocated, WIP is undervalued, or equipment depreciation is not tracked, your gross margin numbers are wrong, and decisions based on wrong numbers lead to losses.

David Korzeniowski, CPA sets up accounting systems that track every component of production cost, ensuring your financials reflect reality. Combined with manufacturing-specific tax strategies, Section 179, R&D credits, and overhead optimization, this gives manufacturers the financial clarity and tax efficiency they need to compete.

Related Services

Corporate Tax Preparation Financial Reporting Monthly Bookkeeping Cash Flow Planning Business Consulting

Serving DuPage County

CPA in Wheaton, IL CPA Serving Addison, IL CPA Serving Westmont, IL

Why Choose DWK

A CPA Partner Who Invests in Your Success

Business owners choose DWK Tax & Accounting because they get direct access to a licensed CPA who understands their industry, their goals, and their numbers, not a revolving door of staff.

Licensed Illinois CPA

David Korzeniowski is a licensed Certified Public Accountant in the State of Illinois, not a seasonal tax preparer or a software dashboard. Every return is prepared and reviewed by a CPA who is accountable for accuracy and compliance.

Small Business Experience

8+ years working with contractors, restaurants, medical practices, law firms, e-commerce, real estate investors, and consultants across DuPage County. Industry-specific knowledge means better deductions and fewer surprises.

Year-Round Support

Tax strategy doesn't stop in April. David is available throughout the year for questions, planning conversations, and proactive adjustments, not just at filing season.

Proactive Tax Strategy

We plan ahead. Entity structure, timing, retirement contributions, and quarterly estimates are reviewed continuously so you keep more of what you earn, legally and strategically.

Personalized Planning

Every business is different. Recommendations are built around your specific circumstances, goals, and growth plans, never a generic template or a one-size-fits-all checklist.

Local & Accessible

Based in Wheaton, serving DuPage County and the western suburbs. You can call, email, or meet in person. No call centers, no overseas outsourcing, no account handoffs.

Meet David Korzeniowski, CPA Read Client Reviews View Success Stories

Frequently Asked Questions

Top Tax Deductions for Small Businesses Year-End Tax Planning Checklist

Ready to Get Started

Take Control of Your Financial Future

Whether you need strategic tax planning, business advisory, or CFO-level financial leadership, DWK Tax & Accounting is ready to serve as a dedicated financial partner for your business.