At KBKG, we are passionate about helping business owners and accounting professionals across the Chicago, IL area. Our value-added tax services include Cost Segregation and Research & Development.
Chicago-based KBKG professionals work with engineers and tax experts from our Headquarters to perform thousands of tax projects resulting in hundreds of millions of dollars in benefits for our clients.
Our employees are a group of passionate people who care about their communities. Our Chicago office is actively involved in numerous community outreach organizations such as “Windy City” Habitat for Humanity. Every year, our staff would help build homes in areas where affordable housing is scarce. This helps the community by improving inactive areas of a neighborhood. Our Chicago team members are passionate about helping the local community.
Recent News from Chicago
Chicago, Illinois – February 7, 2019 – Nationwide tax specialty firm KBKG recently promoted industry veteran Lester Cook to Principal. Lester leads the firm’s Midwest practice, including a team of engineers and specialists based out of the firm’s Chicago office. Lester joins nine other principals on KBKG’s leadership team. His primary areas of focus are … Read More
Atlanta, Georgia – February 7, 2019 – Nationwide tax specialty firm KBKG recently promoted area resident John W. Hanning to Principal. John leads the firm’s Southeast practice, including a team of engineers and specialists based out of KBKG’s Atlanta office. John joins nine other principals on KBKG’s leadership team. John’s primary responsibilities include servicing capital … Read More
Calculating and documenting the Internal Revenue Code Section 41 Credit for Increasing Research Activities (“Research Credit” or “R&D Credit”) is an intricate and often burdensome undertaking. This process is complicated during the throes of busy season. Fortunately, the Internal Revenue Service (“IRS”) has afforded taxpayers additional time to claim a R&D credit via making a … Read More
In 2018, the tax reform changes made cost segregation studies more valuable than before. Under the new law, any building components with a tax recovery period of 20 years or less, are eligible for 100% Bonus Depreciation. Historically, bonus depreciation only applied to newly constructed property, but now it’s available for any acquired property. These … Read More
The longest government shutdown in U.S. history is creating more uncertainty for the current and future tax landscape. As the border wall standoff delays guidance necessary to properly implement tax reform, taxpayers are left wondering how to timely file their 2018 tax returns without ultimately having to amend down the road. Congress currently hasn’t been … Read More
Billions of dollars worth of research credits go unclaimed every year in the United States. This is primarily due to many taxpayers not being aware of the credit or not quite understanding it. In addition, when a reference is made to research and development (“R&D”), taxpayers often think about lab coats and test tubes. In … Read More
Are you or your clients interested in performing a cost segregation study as we look toward 2018 tax filing deadlines? If so, now is the time to get started to meet the March 15th tax deadline. KBKG is committed to timely work, and we are starting to get busy with Cost Segregation projects. Help us … Read More
With the 2017 tax year behind us, tax professionals are laser focused on the various new rules presented by the recent Tax Cuts and Jobs Act (TCJA) effective for the 2018 tax year. One of the most significant changes related to real estate improvements is the new eligibility criteria for qualified improvement property (QIP). The … Read More
With the Research & Development (“R&D”) Tax Credit now permanent and expanded, more and more businesses are taking full advantage of this valuable credit. As manufacturing continues to be a mainstay in the American economy, it’s crucial for owners and operators of these facilities to maximize the opportunity provided by the federal government (some states … Read More
What software development activities and expenditures can be included in an R&D Tax Credit claim for software projects? Companies performing qualified research in creating or improving their software may qualify for federal and state R&D tax credits for the software development activities they are already conducting. These credits are a dollar-for-dollar reduction in federal and … Read More