Accounting Freedom, Ltd.

06/03/2026

Restaurants have been using the F**A Tip Credit since 1993. Salon, spa, and barbershop owners just got access to the same break — effective January 1, 2025.

Here's what it is: a dollar-for-dollar tax credit on the employer share of F**A taxes you pay on employee tips. Your employee receives the tip. You still owe payroll taxes on it. This credit offsets that cost.

Qualifying depends on four things: W-2 employees, customary tipping, passing the 15% gross receipts test, and having payroll records that can support the calculation.

We broke down every piece of it — including the two traps that knock owners out of eligibility before they file.

If you're a salon or spa owner and want to know if you qualify, let's talk.

Salons, spas & barbershops are now eligible for the F**A tip credit — a dollar-for-dollar tax credit restaurants have used for decades. Here's how to qualify.

06/02/2026

Most accountants will tell you DIY QuickBooks is always a mistake.

Honestly? For some businesses, it's fine.

The real question isn't "which one is best"; it's which one fits where your business is right now.

We broke down all three options: DIY QuickBooks, a bookkeeper, and a CPA firm, with the real cost comparisons, what each one actually does, and the revenue and complexity thresholds that tell you when it's time to move up.

No sales pitch. Just the framework.

CPA firm, bookkeeper, or DIY QuickBooks — we break down costs, what each does, and the honest threshold that tells you which one fits.

05/27/2026

Most contractors we talk to have had the same bookkeeper for years. Good relationship. Reliable. And at some point, usually around $1M in revenue, they start feeling like something's missing.

It's not that the bookkeeper did anything wrong. The business just grew into questions they weren't hired to answer.

Things like: How profitable was that last job, really? What can we do before December 31 to lower the tax bill? Is my cash position going to be a problem next quarter?

We wrote about this honestly this week — the three signs you've outgrown your bookkeeper, why it happens to almost every contractor who grows, and exactly how to handle the conversation when it's time.

Link in the comments 👇

05/21/2026

🌟 Congratulations to our Employee of the Quarter, Daisy! 🌟⠀

Every team has that one person who keeps everything running smoothly behind the scenes, and for us, that person is Daisy.

She is the heart of this office! She is always supportive, dependable, and willing to step in wherever needed. No matter how busy things get, she keeps the team grounded, organized, and moving forward with a positive attitude. Her leadership, encouragement, and constant support make a huge impact on both the team and the culture she’s helped create.

We’re incredibly lucky to have someone who cares so deeply about both the people and the work. This recognition is beyond deserved, especially while also stepping into an exciting new chapter of life after welcoming her beautiful baby boy! We couldn’t be happier for her and are so grateful for everything she does,

Way to go, Daisy! 🙌👏⠀

05/21/2026

Most small business owners get this question wrong: "Should I be an LLC or an S-Corp?"

It's the wrong question — because they're not the same kind of thing.

An LLC is a legal entity. An S-Corp is a tax election. You can be both.

We've saved insurance agents, consultants, and contractors $10K+ per year just by electing S-Corp status on their LLC. But we've also talked clients out of it when the math didn't pencil — especially in Illinois, where the 1.5% replacement tax shrinks the savings.

Frank wrote the full breakdown — including when it makes sense, when it doesn't, and why reasonable compensation is the IRS's favorite audit trigger.

Most business owners confuse LLCs and S-Corps. One is a legal entity. The other is a tax election. Here's what every Illinois and Wisconsin owner should know.

05/14/2026

How much does an accounting firm actually cost? We publish our pricing — every package, every starting rate, every line item of what's included. No "contact us for pricing." No mystery. For small businesses in who are tired of vague answers from accounting firms: 👉

Honest pricing for our small business CPA packages. See what each tier includes, what it costs, and which one fits your business — no sales call needed.

05/12/2026

Choosing the wrong accounting software can cost you time, money, and headaches later. 👀

In this video, we compare QuickBooks, Xero, FreshBooks, Wave, and Sage Intacct to help Illinois & Wisconsin small businesses choose the right fit.

Spoiler: for most businesses, the best answer is simpler than you think.

05/06/2026

🌟 Thank you for the 5-star shoutout! 🌟

We truly appreciate your recommendation and are so glad you had an excellent experience with our team. 💙

Providing reliable, high-quality service is always our goal, and it means a lot to hear that reflected in your feedback!

Thank you for choosing Accounting Freedom. We’re always here when you need us. 🙌

05/05/2026

If you’re only looking at your numbers during tax season… that might be exactly where the issue starts.

Your financials shouldn’t just come out once a year. They should be helping you make smarter decisions all year long. When you consistently review your numbers, you gain clarity, stay in control, and can plan ahead instead of reacting later.

Start small. Set aside time each month to review your financials. It can make a bigger impact than you think.

Save this as a reminder for later 💾

04/30/2026

Before you hire a CPA in Illinois or Wisconsin, make sure you’re asking the right questions. The right fit can save you thousands, not just at tax time, but all year long.

Here are 5 key questions every small business owner should ask before signing anything

✔️ Do they specialize in small businesses like yours?
✔️ Are they focused on tax planning—not just filing?
✔️ How do they communicate and stay accessible?
✔️ What’s included in their services (and what’s not)?
✔️ Are they proactive about helping you grow?

Save this post so you have it handy when you’re making your decision.

📍 Serving small businesses in Illinois & Wisconsin
🔗 Learn more at the link in our bio