Kelly's Accounting Service

Accounting Services, Accountants-Certified Public, Bookkeeping

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36 Years

in Business

(217) 762-5509Call Visit WebsiteVisit Website Map & DirectionsDirections310 W Washington StMonticello, IL 61856 Write a ReviewWrite Review

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General Info: Kelly's Accounting Service, Inc. provides Payroll Services, Quickbook Consulting, Book Reviews, Tax Consulting & Preparation and Specializing in Small Business to the Monticello, IL area.
Email: Email Business
Services/Products: Book Reviews Computerized Accounting Payroll Services Quickbook Consulting Specializing in Small Business Tax Consulting & Preparation
Payment method: cash, check
Associations: Monticello Chamber of Commerce,,Rotary
Other Link: website
Categories: Accounting Services, Accountants-Certified Public, Bookkeeping, Financial Planning Consultants, Financial Services, Payroll Service, Tax Return Preparation

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Phone: (217) 762-5509

Address: 310 W Washington St, Monticello, IL 61856

Website: website

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Kelly's Accounting Service

Tax Planning
We will guide our clients through tax planning and preparation and use years of expertise, experience, and analysis to optimize their financial options. Rest easy knowing Kelly's is up-to-date on the newest tax laws.
Estate Taxes
Tax Services
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Kelly's Accounting's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.
Roth IRA
Form 1065
Partnerships - File Form 1065. This due date applies only if you were given an additional 6-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute K-1.
Tax Deductions
Whether your needs are corporate or personal, Kelly's Accounting's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.
Income Tax
Individuals - Make a payment of your current year estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in the current year.
Capital Gains Taxes
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $77,200 for joint filers and surviving spouses, $51,700 for heads of household, $38,600 for single filers, $38,600 for married taxpayers filing separately, and $2,600 for estates and trusts
Tax Return Preparation

Mutual Funds
While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.

Accounting Services
Kelly's Accounting was named 3rd in tax prep and 2nd in accounting services for News-Gazette Media peoples choice awards. Services
Payroll Services
Kelly's Accounting's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns.
Bookkeeping Services

Financial Planning
Since 1988, our firm has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as financial statements and financial planning.
Retirement Planning
Annuities
Employers - Nonpayroll taxes. File Form 945 to report income tax withheld for this year on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 12 to file the return.
Asset Management
Kelly's Accounting's goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Kelly's Accounting can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.

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