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 nonprofits need a specialized CPA?

Nonprofits have accounting and tax requirements that differ significantly from for-profit businesses: Form 990 (not a standard tax return), grant accounting and restricted fund tracking, functional expense reporting (program, management, and fundraising), unrelated business income tax (UBIT), and donor acknowledgement compliance. A CPA who understands nonprofit accounting ensures your organization maintains its tax-exempt status and meets all reporting requirements.

What is Form 990 and why does it matter?

Form 990 is the annual information return that tax-exempt organizations file with the IRS. It is a public document, anyone can access it, and it provides transparency about your organization's finances, governance, and programs. The specific form (990, 990-EZ, or 990-N) depends on your gross receipts. Filing errors or late filings can result in penalties and, eventually, loss of tax-exempt status.

How do you handle grant accounting and restricted funds?

Grants and donations often come with restrictions, the funds must be used for a specific purpose or in a specific time period. We track restricted and unrestricted funds separately, ensuring restricted funds are used only for their designated purpose and that grant reporting is accurate. This protects your grant relationships and ensures compliance with donor intent.

What are functional expense allocations?

Nonprofits must report expenses in three categories: program services (directly fulfilling the mission), management and general (administrative), and fundraising. The IRS and grantors look at these ratios to evaluate efficiency. We set up the accounting system to track expenses by function and ensure the allocations on Form 990 are accurate and defensible.

Do nonprofits pay taxes?

While nonprofits are exempt from federal income tax on mission-related activities, they may owe tax on unrelated business income (UBIT), revenue from activities that are not substantially related to the exempt purpose. Examples include advertising in a newsletter, rental income from debt-financed property, or certain fee-for-service activities. We identify UBIT obligations and prepare the related tax filings.

Nonprofits

Nonprofit CPA & Accounting in Wheaton, IL

Nonprofits operate under a unique set of accounting and tax rules designed to ensure transparency, protect donor intent, and maintain tax-exempt status. DWK Tax & Accounting provides CPA services to nonprofit organizations across Wheaton and DuPage County, handling Form 990 preparation, grant accounting, functional expense allocation, and compliance with IRS and Illinois charitable registration requirements. David Korzeniowski, CPA helps nonprofits maintain their exempt status while providing the financial reporting that boards, grantors, and donors expect.

What We Handle for Nonprofits

Form 990, 990-EZ, and 990-N preparation

Grant accounting and restricted fund tracking

Functional expense allocation (program, admin, fundraising)

Unrelated business income tax (UBIT) analysis

Donor acknowledgement and contribution tracking

Budget vs. actual reporting by program

Illinois Attorney General charitable registration

Board financial reporting and dashboards

501(c)(3) compliance review

QuickBooks nonprofit configuration

Protecting Your Tax-Exempt Status

Tax-exempt status is not permanent, it must be maintained through accurate filings, proper use of restricted funds, and compliance with IRS rules on lobbying, political activity, and unrelated business income. Losing exempt status is devastating and difficult to regain.

David Korzeniowski, CPA ensures your nonprofit stays compliant with every requirement, from the annual Form 990 to the Illinois charitable registration, while providing the clear, transparent financial reporting that builds trust with grantors, board members, and the community you serve.

Related Services

Monthly Bookkeeping Financial Reporting Payroll Services Accounting Services Business Consulting

Serving DuPage County

CPA in Wheaton, IL CPA Serving Naperville, IL CPA Serving Glen Ellyn, 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

Common Small Business Tax Mistakes 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.