Daniel J. Brown, CPA, a local firm with
25 years experience
Dan provides income tax preparation and
planning services and IRS representation.
He counsels clients on business start-ups, divorce,
estate issues, retirement and college planning, and
many other tax and financial matters.
Through exceptional service, Dan builds lasting
relationships with clients. Many have
been returning since the firm was
established and children of clients have become clients
themselves. Clients who move from the
area often continue having him prepare their taxes; many
live in foreign countries and in states other than Illinois.
Understand Your Tax Opportunities and
"I have seen people overpay taxes by
thousands of dollars
they made uninformed
Dan wants to prevent such situations. He offers tax
advice after considering clients' circumstances and
gladly answers their questions. A sample of what
he's been asked:
- I am starting a new business, what expenses
can I deduct? Or, I will be an
independent contractor, what can I deduct? Should
I make estimated tax payments?
- I have a small business. What is Qualified Business Income and how does it affect me?
- I made nondeductible contributions to my
traditional IRA in the past but never told my tax
preparer. Is that OK?
- Since the Tax Reform Act of 2017 eliminated personal exemptions and reduced or eliminated many itemized deductions, will my taxes increase?
- I had a high income for many years
and put a lot in my retirement
account; but I have not worked this past
year; are there tax
- I am self-employed. What's the best way
for me to save for my children's college? To pay for
medical expenses? What retirement plans can I
- I received a small inheritance. What will the income tax be?
- It looks like higher tax rates are
coming. Should I convert my retirement accounts to a
- I changed jobs. Should I rollover my 401(k)
or use it to pay bills? Should I use it
for my child's tuition?
- When is my IRA required to file a tax return?
- My widowed mother named me executor of her estate; when
she passes, what should I do?
- I have a bank account overseas and pay
income tax to the foreign country. Does it
affect my federal tax return?
- Should I sell my appreciated rental property or
do a like-kind exchange?
- Should I make a "back door" IRA contribution?
- I am more than 70.5, should I direct the administrator of my IRA to send my charitable contributions directly to charities?
- My income is too high for me to qualify for an
education credit; can my child take the
- I am a minister. How is my self-employment
tax calculated? What's covered by my
- My soon-to-be-ex wants the exemptions for our children. What is the tax savings from personal exemptions?
- I play online poker and was told I should file a FinCEN form 114. What is this form and how do I file it?
- The divorce is not final and we are living
apart. Should we file jointly or
separately? Head of Household?
- My child's college tuition and fees were paid by
scholarships; am I eligible for any education credits?
- If I take a home office deduction, am I
more likely to be audited? Do I qualify?
- I hired someone to take care of my children. What
payroll taxes do I have to pay and how do I pay them?
- As part of our estate planning, my spouse and I created living trusts. Should we file returns for
- When I die my estate will be taxable. What can I do
now to minimize the tax?
- I receive money every month from my ex-spouse. Is
- Is there a downside to financing my new business with my IRA?
- I exercised stock options and sold the stock; how do
I figure the taxable gain?
- Should I gift my house to my children now, while I am living, or pass it to them after I die?
Note, the Tax Reform Act of 2017, effective January 1, 2018, has impacted the answers to many of these questions.
Dan likes to ask clients:
- Do you have a will or trust? Is it up to date? (If your trust does not consider "portability", it is not up to date.)
- Are your primary and contingent beneficiary designations on your life insurance and retirement accounts up to date?
Appointments are available year round 9:30 am to 7:30
pm Monday through Thursday and 9:30 am to 3:30 pm Friday
and Saturday. Call
630 629-4400 to
schedule an appointment.
4 Miles South of Oakbrook Shopping Center
119 E Ogden Avenue, Suite 130
Hinsdale, Illinois 60521
630 455-1190 fax