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 real estate investors need a specialized CPA?

Real estate has tax rules that generalist preparers often miss: depreciation recapture, passive activity loss limitations, cost segregation, and the qualified business income deduction for rental real estate. A CPA who specializes in real estate ensures your depreciation is maximized, your losses are properly characterized, and your entity structure protects your assets and your tax position.

What is cost segregation and how does it save taxes?

Cost segregation is an engineering-based analysis that reclassifies components of a building, like fixtures, flooring, and landscaping, into shorter depreciation lives (5, 7, or 15 years instead of 27.5 or 39). This front-loads depreciation deductions, often generating significant tax savings in the first few years of ownership. We help determine when a cost segregation study makes sense for your property.

Should I hold rental property in an LLC?

An LLC provides liability protection and can simplify accounting for multi-property portfolios, but it is not always the right choice for every investor. The decision depends on the number of properties, your equity position, financing, and how the LLC interacts with your overall tax strategy. We help you weigh the protection, cost, and tax implications before you form one.

How is passive rental income taxed?

Rental income is generally considered passive, which means losses may be limited by passive activity loss rules unless you qualify as a real estate professional or meet the active participation exception. We track your passive losses, apply the rules correctly, and ensure suspended losses are released when you sell a property.

Do you provide bookkeeping for rental properties?

Yes. We set up QuickBooks to track income and expenses by property, reconcile security deposits, record mortgage interest and property tax separately, and maintain depreciation schedules. Clean per-property bookkeeping means your Schedule E is prepared from accurate numbers and you capture every deductible expense.

Real Estate Investors

Real Estate CPA & Rental Property Accounting in Wheaton, IL

Real estate investing rewards investors who understand depreciation, cost segregation, and entity structuring, and penalizes those who do not. DWK Tax & Accounting provides real estate-specific accounting and tax planning that maximizes depreciation, manages passive loss rules, and keeps your rental bookkeeping clean and audit-ready.

What We Handle for Real Estate Investors

Depreciation schedules and maximization strategies

Cost segregation study coordination

LLC structuring for rental portfolios

Passive activity loss tracking and release

Per-property rental bookkeeping in QuickBooks

Schedule E preparation for landlords

1031 exchange tax planning and tracking

Rental income and expense categorization

Mortgage interest and property tax tracking

Business and personal tax preparation

Why Real Estate Investors Need a CPA

Depreciation is the most powerful, and most often underused, tax advantage in real estate. Done right, it can shelter rental income entirely. Done wrong, you leave deductions on the table or create recapture surprises at sale.

David Korzeniowski, CPA builds depreciation schedules, coordinates cost segregation when it pays off, structures LLCs for liability protection, and tracks passive losses so they are released at the right time, not lost forever.

Related Services

Tax Planning & Strategy Business Tax Preparation Individual Tax Preparation Bookkeeping

Serving DuPage County

CPA in Wheaton, IL CPA Serving Naperville, IL CPA Serving Carol Stream, 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 S Corp vs LLC in Illinois

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.