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.

How is a single-member LLC taxed?

A single-member LLC is taxed as a sole proprietorship by default. Your business income and expenses are reported on Schedule C of your personal tax return (Form 1040). The net profit flows to your personal return and is subject to both income tax and self-employment tax. You may also elect S corp taxation, which can reduce self-employment tax once your profits are high enough.

How is a multi-member LLC taxed?

A multi-member LLC is taxed as a partnership by default. The LLC files Form 1065 (an informational partnership return), and each member receives a Schedule K-1 showing their share of income, deductions, and credits. Members report the K-1 income on their personal returns. We prepare both the partnership return and each member's individual return.

Should my LLC elect S corp taxation?

Once your LLC's net profit consistently exceeds roughly $60,000 to $80,000, electing S corp taxation can save thousands in self-employment tax. The S corp election splits your income into a reasonable salary (subject to payroll tax) and distributions (not subject to self-employment tax). We analyze your numbers, handle the election, and set up the required payroll.

What Illinois tax filings does an LLC need?

Illinois LLCs may need to file the annual report with the Secretary of State, pay the Illinois replacement tax (for S corp or partnership filings), and register for sales tax or payroll tax depending on the business activity. We ensure every Illinois requirement is met so your LLC stays in good standing.

Can DWK prepare both my LLC return and my personal return?

Yes. Preparing both together ensures consistency and captures every deduction. We prepare the LLC return (Schedule C or Form 1065), issue K-1s if applicable, and then prepare your personal return. This integrated approach means nothing falls through the cracks and your tax strategy is coordinated across both filings.

LLC Tax Preparation

LLC Tax Preparation in Wheaton, IL

The LLC is the most popular business entity in Illinois, and also the most misunderstood. An LLC is not a tax classification; it is a legal structure that can be taxed as a sole proprietorship, partnership, S corporation, or C corporation depending on your election. DWK Tax & Accounting prepares LLC tax returns for owners across Wheaton and DuPage County, ensuring the right filing method is chosen, every deduction is captured, and your entity strategy minimizes tax rather than creating it.

LLC Tax Services We Provide

Single-member LLC returns (Schedule C)

Multi-member LLC returns (Form 1065 and K-1s)

S corp election preparation (Form 2553)

Reasonable compensation analysis

Illinois LLC annual report and replacement tax

Self-employment tax planning and reduction

QBI deduction optimization

Member guaranteed payments and allocations

LLC payroll setup for S corp elections

Multi-state LLC tax filing and nexus review

Choosing the Right LLC Tax Election

The default taxation for a single-member LLC is Schedule C, simple, but every dollar of profit is subject to self-employment tax. Once your profit consistently exceeds roughly $60,000, electing S corp taxation can save thousands by splitting income into a reasonable salary and distributions.

For multi-member LLCs, the partnership return (Form 1065) and K-1s must be prepared correctly, allocation errors and missed deductions are common with generic preparers. David Korzeniowski, CPA evaluates your LLC's structure, profitability, and growth plans to recommend and implement the election that minimizes your total tax burden.

Related Services

S Corp Tax Preparation Partnership Tax Preparation Business Tax Preparation Tax Planning & Strategy Business Startup Accounting

Serving DuPage County

CPA in Wheaton, IL CPA Serving Naperville, IL CPA Serving Winfield, 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

S Corp vs LLC in Illinois When to Elect S Corp Status Top Tax Deductions for Small Businesses

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.