Ruman & Associates, Ltd.

Ruman & Associates, Ltd. Ruman & Associates, Ltd. is a tax and accounting firm providing each client with the close attention

Every business has that one accounting task that takes more time and energy than it should.Is it bookkeeping, payroll, r...
06/25/2026

Every business has that one accounting task that takes more time and energy than it should.

Is it bookkeeping, payroll, reconciliations, reporting, tracking expenses, or something else entirely? Share what part of your accounting process feels the most challenging for you.

Choosing the right retirement plan for your practice depends on more than contribution limits alone.A Simple IRA may wor...
06/22/2026

Choosing the right retirement plan for your practice depends on more than contribution limits alone.

A Simple IRA may work well for smaller practices looking for a more straightforward option, while a Traditional 401(k) can offer greater flexibility for growing businesses with more complex goals.

The best fit often comes down to your team size, long-term plans, and how much administrative responsibility you want to manage.

If you’re comparing retirement plan options for your practice, we can help you evaluate what makes the most sense for your situation.

Managing finances and staying compliant can feel overwhelming without the right support.We provide tax, accounting, and ...
06/19/2026

Managing finances and staying compliant can feel overwhelming without the right support.

We provide tax, accounting, and advisory services designed to help individuals and businesses stay organized, informed, and prepared for what’s ahead.

Reach out to learn how we can support your financial goals with confidence.

Hiring decisions can sometimes create opportunities beyond building your team.The Work Opportunity Tax Credit may provid...
06/16/2026

Hiring decisions can sometimes create opportunities beyond building your team.

The Work Opportunity Tax Credit may provide valuable tax savings for businesses that hire eligible employees, but timing, certification, and documentation all matter. Missing a step could mean missing the credit.

If you want to make sure your business is taking advantage of available tax opportunities, give us a call and let’s review your situation.

IRS Offer in Compromise Program – Did You Know?People who cannot pay their tax bills in full may have options to resolve...
06/15/2026

IRS Offer in Compromise Program – Did You Know?

People who cannot pay their tax bills in full may have options to resolve the situation. One of these options is the Offer in Compromise (OIC) program, which allows eligible taxpayers to settle their debts with the IRS for less than the full amount owed.

Anyone considering an OIC should first check whether they qualify using the IRS Pre-Qualifier tool online (link below). Eligible taxpayers may then submit an application. In most cases, the application must be accompanied by a $205 fee and an initial payment toward the tax debt, although these requirements may be waived for lower-income applicants.

An OIC application requires detailed financial information and must be carefully prepared. Beware of aggressive ads promising to settle tax debts quickly for a small fraction of the amount owed. Companies behind these ads, often referred to as OIC mills, may charge substantial fees while submitting applications for people who have little chance of qualifying. A trusted tax professional can help ensure that an OIC application is complete, accurate, and has a reasonable chance of acceptance.

OIC Pre-Qualifier Online Tool: https://irs.treasury.gov/oic_pre_qualifier/

Retirement planning is not only about the future. It can also play a major role in how you manage taxes today.The right ...
06/10/2026

Retirement planning is not only about the future. It can also play a major role in how you manage taxes today.

The right retirement strategy may help reduce taxable income, create long-term growth opportunities, and provide more flexibility for both individuals and business owners. Starting early often creates the greatest advantages over time.

If you want to explore retirement options that align with your tax strategy and financial goals, schedule a consultation and let’s talk through your options.

Business meals and entertainment are often misunderstood when it comes to taxes.While certain business meals may qualify...
06/08/2026

Business meals and entertainment are often misunderstood when it comes to taxes.

While certain business meals may qualify for partial deductions, entertainment expenses are generally not deductible under current tax rules. Keeping clear records and understanding the difference helps avoid reporting mistakes.

If you’re unsure which expenses qualify, we can help you sort through them properly.

Mid-year is the perfect time to pause and review where things stand financially.Checking your income, expenses, withhold...
06/04/2026

Mid-year is the perfect time to pause and review where things stand financially.

Checking your income, expenses, withholding, and estimated payments now can help you avoid surprises later and give you time to make adjustments before year-end. Small changes today can make a big difference during tax season.

If you want help reviewing your numbers and planning ahead, send us a message and let’s take a closer look.

Waiting until year-end to sort through expenses can create unnecessary stress and increase the chance of missing importa...
06/02/2026

Waiting until year-end to sort through expenses can create unnecessary stress and increase the chance of missing important deductions.

Recording expenses in real time keeps your financial records cleaner, improves accuracy, and makes reporting much easier when tax season arrives.

If your bookkeeping process feels behind or inconsistent, we can help you build a system that stays organized year-round.

Tax season may be over, but good planning does not stop at filing.What you do after filing can shape the rest of your ye...
05/29/2026

Tax season may be over, but good planning does not stop at filing.

What you do after filing can shape the rest of your year, from adjusting strategy and planning estimated payments to reviewing whether your business structure still serves you well. Proactive follow-through often creates the biggest opportunities.

If you want to turn tax season into year-round planning, contact us to schedule a consultation.

Address

477 Butterfield Road Suite 500
Lombard, IL
60148

Opening Hours

Monday 9:30am - 7pm
Tuesday 9:30am - 7pm
Wednesday 9:30am - 7pm
Thursday 9:30am - 7pm
Friday 9:30am - 7pm
Saturday 10am - 3pm

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