Income Tax Preparation Services

Timmermann & Company, Ltd. provides income tax preparation services for Federal and State income taxes for individuals, partnerships, LLC’s, S corporations, C corporations, estates, and trusts.

Tax Planning Services

The firm offers tax planning services. These services are usually done near the end of the year to give the client a preview of their tax situation for the year. The firm also provides recommendations on actions the client could do to minimize income taxes for the year.

Payroll Preparation Services

The firm offers complete payroll preparation services which include:

  • Preparation of Paychecks
  • Electronic Deposit of Paychecks
  • Calculation of All Required Payroll Tax Deposits
  • Preparation of All required Payroll Tax Returns

The firm also offers payroll tax preparation services if you complete your own payrolls.

Monthly Accounting Services

The firm offers complete accounting services including the preparation of a monthly financial statement. These accounting records are generated from source documents provided by the client.

Federal and Illinois Estate Tax Return Preparation

The firm can prepare any required federal or state estate tax return for a decedent. This includes using special use valuation in valuing farmland. A family member must continue to be active in the farming operation after the death of the owner. Using the special use valuation can save hundreds of thousands of dollars in estate taxes if the estate meets the requirements.

Preparation of Audited and Reviewed Financial Statements

The company is qualified to prepare audited and reviewed financial statements. There are very stringent requirements to be eligible to provide these services. All accounting staff are required to complete 40 hours of continuing education in accounting and auditing each year. All staff also take at least 16 hours of continuing education income taxes each year. Timmermann & Company, Ltd. is the only public accounting firm located in Fayette County Illinois that is qualified to provide audited financial statements.