Evenhouse & Co, P.C.

Evenhouse & Co, P.C. Certified Public Accountants - Tax | Accounting | Auditing | Consulting Our services encompass nearly every aspect of financial life.

At Evenhouse & Co., P.C., we strive to partner with you in bringing effective and innovative solutions to your business needs and your personal financial matters. Located in Oakbrook Terrace, IL we are strategically located to serve the entire greater Chicagoland community. We also serve business and individual clients in Wisconsin, Michigan, Indiana, and beyond. Our strategic investment in technology allows us to meet your needs wherever you may be located. We strive to build and maintain long-lasting business relationships, and this website is an extension of our commitment to you. We are experienced in all matters of accounting and taxation, IRS problem resolution, estates and trusts, business formation, financial planning and investment, real estate and business sales. Our firm's reputation for providing quality service reflects the high standards we demand of ourselves. Our high standards, responsive service and specialized staff spell the difference between our firm and the rest. We invite you to contact us for more information about how our firm can address your most pressing issues.

Interim financial reports produced monthly or quarterly can provide your business with more timely information than year...
10/09/2026

Interim financial reports produced monthly or quarterly can provide your business with more timely information than year-end financial statements. You can use this data to spot emerging problems and opportunities. Compare each interim report with your budget and financial reporting from the same period of the previous year. Account for seasonality, but don’t focus solely on revenue. Higher labor costs or excessive discounting may increase sales while profit margins shrink. Unexpected results in interim reports don’t necessarily signal a crisis, but you should investigate them. Contact us for help setting up interim reports and interpreting them. https://bit.ly/4yHRxWv

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significa...
10/07/2026

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significant tax-advantaged savings opportunity. Even modest IRA contributions now can substantially multiply over time. For example, just $2,000 contributed to an IRA earning 5% annually will grow to nearly $23,000 50 years later. A Roth IRA can be especially powerful because qualified distributions will be tax-free. For 2026, the annual contribution limit for IRAs is the lesser of taxable compensation or $7,500. 2026 contributions can be made until April 15, 2027, but the income to support them must be earned by Dec. 31, 2026. Contact us to discuss tax-smart planning for your teen. https://bit.ly/4hxNXYO

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper ...
10/05/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively. https://bit.ly/4jb72RX

AI can help your business meet high customer service expectations without overburdening employees. It’s particularly eff...
10/02/2026

AI can help your business meet high customer service expectations without overburdening employees. It’s particularly effective for routine tasks. These include answering customers’ basic questions anytime on your website or social media accounts. AI can also help analyze and route customer requests to the right employees, and work behind the scenes to give staffers context and suggest next steps. Of course, AI is only as effective as how it’s trained and used. Your business should regularly test its systems, restrict access to confidential data and establish escalation rules. We can help calculate possible savings and recommend affordable solutions. https://bit.ly/4zeiroP

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed sinc...
09/30/2026

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed since the tax took effect in 2013, so it’s hitting more taxpayers. If you have net investment income (NII) and your 2026 modified adjusted gross income (MAGI) exceeds $200,000 ($250,000 if you’re married and file jointly, half that if you file separately), you’ll be subject to the NIIT on the lesser of your NII or the amount by which your MAGI exceeds the applicable threshold. Some NII examples are taxable interest, dividends, and gains from stocks, bonds and mutual funds. Year-end planning may help reduce your MAGI or NII — and the NIIT’s impact. Contact us to learn more. https://bit.ly/4iSM75S

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread...
09/28/2026

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread your gain — and the related tax — over several years.

The buyer typically makes a down payment and issues a note for the balance. Each principal payment generally includes a tax-free return of basis and taxable gain; interest on the note is taxed separately as ordinary income. This arrangement may also expand the pool of buyers or help you obtain a higher price. But depreciation recapture may be taxable upfront, and you assume the risk that the buyer won’t pay.

Contact us to discuss the pros and cons and determine the optimal deal structure for your situation.

Which of your small business’s expenses are deductible? Even with a tax advisor, it’s worth knowing because daily decisi...
09/25/2026

Which of your small business’s expenses are deductible? Even with a tax advisor, it’s worth knowing because daily decisions can significantly reduce taxable income before year end. Deductible business expenses must be ordinary and necessary, but they don’t need to be indispensable. Business travel costs are typically deductible in the current year, but buildings, equipment and other capital assets generally must be deducted over time. Personal expenses aren’t deductible, but mixed-use ones could be if you can support your cost allocation. Rules vary on meal, entertainment, gift and vehicle expenses. Contact us for help claiming every available tax deduction. https://bit.ly/3VaLcEc

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayer...
09/23/2026

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayers. For 2026, the AMT exemption phaseout thresholds are reduced and the exemption phases out twice as fast as for 2025. If you may be affected, consider the AMT before implementing income and deduction timing strategies. A move that would reduce your 2026 regular tax might provide little or no benefit under the AMT — or could trigger it. Before acting, determine whether you may owe the AMT for 2026 or 2027 and how the move would affect both calculations. We can help project your regular tax and AMT liability for both years and the potential impact of timing strategies. https://bit.ly/4j3gMO7

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business t...
09/21/2026

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business tax returns include a question about digital assets, and brokers must report certain transactions on Form 1099-DA.

Digital assets are treated as property for federal tax purposes. Cryptocurrency accepted for goods or services is taxable income based on its fair market value when received. Selling, exchanging or spending it may create a separate gain or loss. Crypto payments to employees and contractors are subject to the usual tax-reporting rules and can produce a business gain or loss. Contact us to review your 2026 digital-asset activity and reporting obligations. https://bit.ly/4y1UIb2

If you’re thinking about retiring from your family business, plan now to mentor a successor. Rotating your candidate thr...
09/18/2026

If you’re thinking about retiring from your family business, plan now to mentor a successor. Rotating your candidate through key functions — including sales, marketing, finance and HR — provides firsthand insight into how decisions affect customers, employees, cash flow and profitability. It will also help this future leader earn employees’ respect instead of appearing to have been handed the job because of family connections. Effective successor training should minimize friction among relatives and employees and give everyone greater confidence in future leadership. We can help with your succession plan. https://bit.ly/4hcNLNk

Address

1S660 Midwest Road , Suite 250, Oakbrook Terrace
Elmhurst, IL
60126

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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