Tax preparation services in Naperville, IL

Tax preparation in Naperville looks like a crowded market. But most firms handle one side of the picture. Firms focused on individual returns don't go deep on business filings. Firms focused on businesses don't track the personal 1040 where the business income lands. That gap costs people money — not because anyone is careless, but because the same person rarely sees both returns.

Soriaga & Associates has handled both sides of that equation from Lisle, Illinois since 1985. Carl Soriaga has 48 years of CPA experience across individual, family, and small business returns. The same person who prepares your S-Corp return also prepares the 1040 where the K-1 flows. That continuity matters more than most clients realize until they've experienced its absence.

Individual tax preparation in Naperville

We prepare individual federal and Illinois state returns for W-2 employees, consultants, rental property owners, retirees, and investors. Whatever your situation, you work directly with a CPA — not a seasonal preparer who won't be available for questions in September.

Form 1040, Schedule K-1, and rental income

The most common complication for individual filers in the Naperville area: pass-through income from partnerships, S-corps, and LLCs reported on Schedule K-1. A lot of preparers handle this mechanically without understanding the underlying business structure, which means they miss planning opportunities and sometimes get the basis calculations wrong. We prepare K-1 returns while understanding what generated the income in the first place.

Rental property owners file Schedule E. We handle depreciation tracking, expense categorization, and the passive activity rules that apply when you own multiple properties or mix rental income with other passive losses.

Investment income, retirement distributions, and self-employment

Capital gains, dividends, 1099-NEC income from consulting or freelancing, retirement distributions, Social Security — these all carry different tax treatments that interact with each other across years. A Roth conversion in one year can affect your Medicare premiums two years later. We track those interactions, not just the current filing.

Self-employed clients often find their tax appointment is also the right time to review retirement savings options. SEP-IRA and solo 401(k) contributions are frequently the largest tax reduction available to someone without an employer plan, and the window to fund them closes with the return deadline.

Small business tax preparation in Naperville

We prepare business returns for S-corps (Form 1120-S), partnerships and multi-member LLCs taxed as partnerships (Form 1065), sole proprietorships (Schedule C on the 1040), and C-corps (Form 1120).

S-corps, LLCs, and partnerships

Business owners around Naperville hear constantly that S-corp election saves money. Sometimes it does. At lower revenue levels, the bookkeeping and payroll costs required to run an S-corp properly can outweigh the self-employment tax savings. We run that calculation before recommending an election — and for clients already operating as S-corps, we maintain the shareholder basis reconciliation year over year so there are no surprises at sale or dissolution.

For partnerships and multi-member LLCs, we prepare the K-1 allocations and coordinate with partners on their individual returns. One firm handling all the related returns means the numbers are consistent from entity return to personal return.

Year-round tax planning and quarterly estimates

Filing the return is the end of the process, not the whole thing. The decisions that shape what you owe happen from April through December. We help small business clients estimate quarterly payments accurately, time income and expense recognition where the calendar allows, and plan around Illinois-specific considerations — the state's flat income tax interacts with pass-through income in ways that differ meaningfully from federal treatment.

How much does tax preparation cost in Naperville?

Tax preparation fees in Naperville vary based on the complexity of your return, your record organization, and who you hire. An individual return with W-2 income and a standard deduction costs less than one with rental properties, K-1 income, and business schedules. A small business return is quoted separately from the personal return that flows from it, though filing both with the same firm is more efficient than splitting them.

Factors that affect your tax prep fee

The main cost drivers: how many forms and schedules your return requires, the state of your records when you arrive, and whether planning questions need to be worked through during the appointment. Organized records reduce the time required; we'll tell you exactly what to bring before your appointment so you're not paying for sorting time.

Our pricing approach

Individual and business returns are flat-fee, quoted before work begins. There are no hourly surprises partway through. Consulting engagements outside of filing season — when clients want to think through a specific question, an entity structure change, or a major transaction — run $250 per hour. The initial consultation is free, and that's when we assess your return and quote the fee.

Why choose Soriaga & Associates

We're a small firm four miles from downtown Naperville. Carl Soriaga has worked with clients in this market for four decades. The person who answers your question is the same person who prepared your return — not a call center and not a junior associate.

We've watched the Illinois Department of Revenue issue notices, update filing requirements, and change how pass-through income is reported. We know the difference between a letter that needs a response and one that doesn't. After 40 years, the edge cases aren't surprising anymore.

If you've been at a larger firm and dealt with someone new every season, the first appointment here tends to feel different. You can tell somebody actually read last year's return before you walked in.

Frequently asked questions

What's the difference between a tax preparer and a CPA?

A tax preparer can file your return but has limited authority to represent you before the IRS. A CPA holds a state license requiring the CPA exam and ongoing education requirements. A CPA can represent you in audits, respond to IRS notices, and provide tax planning advice — not just prepare and file the return you hand them.

Do I need a CPA or just a tax preparer for my small business?

For a simple business return with no employees and no K-1 recipients, an enrolled agent can handle the filing. Once you have employees, multiple partners, S-corp distributions, or a return where the business filing and personal 1040 interact closely, a CPA's planning capability and broader IRS representation authority become worth the additional cost.

What documents do I need for small business tax preparation?

The basics: your prior-year business return if one exists, a profit and loss statement or bookkeeping records for the year, payroll summaries and W-2/1099 filings if you have employees or contractors, bank and loan statements, asset purchase receipts for depreciation, and any K-1s from partnerships or other entities where your business holds an interest.

Can you help with prior-year unfiled tax returns?

Yes. We prepare late returns for individuals and businesses that have missed one or more years. Illinois has its own statute of limitations and separate notice processes from the IRS, and both need to be addressed. We handle both.

Do you offer a free consultation?

Yes. The first consultation is free. That's where we review your situation, answer your initial questions, and quote a flat fee for your return before any work starts. You can book a free consultation here