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.

What does S corp tax preparation include?

S corp tax preparation at DWK includes preparing and filing Form 1120S, issuing Schedule K-1s to each shareholder, tracking shareholder basis, analyzing reasonable compensation for owner-employees, filing the Illinois IL-1120-S state return, and coordinating estimated tax payments. Every return is reviewed by a licensed CPA.

When is the S corp tax filing deadline?

Form 1120S is due on the 15th day of the third month after the end of the tax year, March 15 for calendar-year S corps. Illinois follows the same deadline. We help clients file on time or request a valid extension, and we track K-1 delivery so shareholders can file their personal returns accurately.

What is reasonable compensation and why does it matter for S corps?

The IRS requires S corp shareholder-employees to be paid a reasonable salary before taking distributions. Paying too little salary is the most common S corp audit trigger. We analyze your role, industry norms, and profit to set defensible reasonable compensation that minimizes both payroll taxes and audit risk.

Does DWK handle Illinois S corp tax filings?

Yes. We prepare the Illinois IL-1120-S and handle Illinois replacement tax (IRT) issues. For S corps operating in multiple states, we also prepare multi-state S corp returns and manage nexus and apportionment so you stay compliant everywhere you do business.

How are S corp distributions taxed?

S corp distributions are generally not subject to self-employment tax, which is the main tax advantage of the S corp structure. However, distributions are limited by your stock and loan basis. We track basis carefully so distributions are properly characterized and shareholders avoid unexpected tax bills.

S Corporation Taxes

S Corp Tax Preparation in Wheaton, IL

The S corporation election can save business owners thousands in self-employment tax, but only when the return is prepared correctly. DWK Tax & Accounting prepares S corp returns with precision, tracking shareholder basis, setting defensible reasonable compensation, and filing both federal Form 1120S and Illinois state returns so your election holds up under scrutiny.

What Your S Corp Return Includes

Form 1120S preparation and filing

Schedule K-1s for all shareholders

Shareholder basis and loss limitation tracking

Reasonable compensation analysis for shareholder-employees

Illinois IL-1120-S state return

Quarterly estimated tax coordination for shareholders

Payroll coordination for shareholder-employees

Multi-state S corp filings when applicable

Amended S corp returns and prior year catch-up

S corp election and termination support

Why S Corps Need a CPA

S corporations carry unique compliance burdens that DIY software cannot navigate: basis tracking, reasonable salary requirements, and the interplay between payroll, distributions, and K-1 income. A single misstep can trigger an audit or disqualify your election.

David Korzeniowski, CPA manages every S corp engagement personally, from the 1120S to each shareholder's K-1, so your numbers are consistent across the business and personal return and your savings are protected.

Related Services

Business Tax Preparation Tax Planning & Strategy Payroll Services

Serving DuPage County

CPA in Wheaton, IL CPA Serving Downers Grove, IL CPA Serving Naperville, 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

Industries We Serve

Contractors & Trades Real Estate Investors Medical & Dental Practices

S Corp vs LLC in Illinois When to Elect S Corp Status

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.