SERVICES

F.I.C. is committed to getting you exactly what you need.

taxes


CORPORATIONS


F. I. C. has helped startup clients plan their privately held S- Corporations with 100 shareholders or less. We also helped many of our larger clients transform into C-Corporations when warranted to benefit from more deductions and more protection.



PARTNERSHIP


whether you have one partner or many, you will always need a voice of wisdom to help you plan the method of which you would share your ownership percentage of the company and how would that differ from sharing your profits and proceeds.



LLC


Limited Liability Companies are state regulated entities that take on a hybrid format. If used correctly, it can shield its owners from liability and provide them the freedom of choice on the method of taxation. LLC can be done by one or many.



TRUST & ESTATE PLANNING


There are many ways we can help a special category of our clients (investors & business owner) shield their assets from future creditors legally and properly. Trust is a vehicle that comes in many shapes and sized for that purpose. When there are so many assets on the line, Estate planning goes then hand in hand with trusts to reduce the taxable impact on our client's assets in the event they pass away prematurely.



SALES TAX


Navigating sales tax compliance can be difficult. Very large companies specialize in this field and the big accounting firms have dedicated teams - both are expensive solutions. We know the sales tax landscape and are an affordable alternative for the small business owner. We offload these complex tax issues and let you focus on your business and sell more product! Amazon Sales Nexus Multi-state & Multi-jurisdiction Illinois & Cook County Sales Tax​.



INDIVIDUAL


Nothing is as personal for individuals than conversations about their finances...except maybe for the family doctor! We understand that while there are obvious financial aspects to our tax consulting and compliance, the difference for us is that we fostering a relationship with you, our client that is proactive, service driven, and results focused. We are told our unique approach to the personal side of business is what makes the difference. Many of our clients have been with the firm for 20 years—some families over multiple generations. We offer a variety of planning and compliance services that help our clients protect assets, pay their fair share of taxes, and preserve wealth for their heirs.



INTERNATIONAL


FICMN Advisors provides tax consulting and compliance services for both U.S. investment abroad and for foreign investment into the U.S. Because our professionals in the U.S. lead the international special interest group for UHY International, we have cultivated deep working relationships to assist clients with local tax resources in virtually every business center of the world. This client-centric service model provides dynamic middle market companies with an enhanced understanding of the U.S. and foreign impact of various business decisions, which often impact the profitability of overseas operations as measured by the global effective tax rate. Because tax planning is only one component of international business, we emphasize the need for legal, financial, and operational teamwork so that tax planning evolves within our clients’ overall business objectives. Our professionals have helped clients at various stages of international expansion: Sale & Distribution of Products in Other Countries Performance of Services in Other Countries Structuring Cross-Border Investments by Individuals & Businesses Acquisitions & Joint Ventures Expansion & Financing of Operations in Other Countries Offshore Holding Companies Arrangements for International Manufacturing International Licensing & Exploitation of Intangible Property Improving Tax Efficiency Transfer Pricing Sale or Liquidation of a Business.



STATE & LOCAL


Taxpayers who itemize deductions on their federal income tax returns can deduct state and local real estate and personal property taxes as well as either income taxes or general sales taxes.



accounting


BOOK KEEPING


We do more than just update your checkbook. Our experienced team takes the time to explain your numbers so you can make better decisions. We work in the cloud so you’ll always know where your business stands. We reach through the screen, handle all documentation virtually and collaborate online from wherever in the world you are. Reporting — Monthly Financial Statement Preparation Cash Flow, Budgeting and Forecasting Payroll Sales Tax Accounts Receivable Management Accounts Payable Management Annual 1099 and W-2 Processing Controller Services Factoring Accounting



PAYROLL


The only thing more conventional than "keeping the books" is screwing them up. In fact, the two typically go hand-in-hand, as the IRS penalizes about one out of every three business owners for payroll errors. Choosing the best payroll service for your needs can help you to reduce bookkeeping and other errors.



AUDIT ASSISTANCE


As one of the larger professional service firms in the nation, we are uniquely positioned to serve public and privately owned and dynamic middle market companies in many industries. As a public accounting firm, FICMN offers the full range of audit and assurance services including: Audits of financial statements Audits of financial statements and internal controls of public companies in accordance with PCAOB standards Audits and Single Audits of higher education, not-for-profit, local governments, and other exempt organizations Audits of employee benefit plans in accordance with ERISA regulations Audits of financial statements prepared under IFRS UHY LLP also provides other attest services outside the realm of traditional audits including: Compilation and review services Vendor, contract, and construction audits and other agreed-upon procedures Financial forecast reviews Reports on service organization controls (SOC reports)



insurance


PERSONAL/COMMERCIAL AUTO


Customized car insurance including liability and full coverage. Whether you need your vehicle for work, business or pleasure - we have you covered!



HOME / RENTER / LANDLORD


Property insurance provides reimbursement to an insured after a loss. It can also provide other accommodations for you while your home or rental unit is being repaired. If you rent out your property, you will need provisions built in to protect you as a landlord.



MOTORCYCLE / BOAT / JET SKI / ATV / SNOW MOBILE


Just like auto insurance, when you purchase a big toy, you need to get big toy insurance. It's similar to car insurance, where you select the liability level, the property for comprehensive and collision, roadside (or dockside) and medical payments.



BUSINESS OWNER'S INSURANCE


We have experienced Risk Managers who know and understand business. From a basic business policy to one with provisions for more extensive risk concerns, we can help you understand these risks and present you with options. Business Insurance can help you prepare for the unexpected.



WORKER'S COMPENSATION


Worker's Comp is legally mandated in nearly every state in the United States. F.I.C. will work with you to get you exactly what you need so there are no surprises when it's time to submit your audit paperwork at the end of the year.



ERRORS & OMMISSIONS


E&O is also known as Professional Liability. Errors and omissions insurance often covers both court costs and settlements up to the policy limit. This offers protection against claims made by clients for inadequate work, mistakes or negligent actions.



NON-PROFIT


Insurance for a non-profit is an important part of the organization. Coverage is tailored to your specific goals and your budget. It's your first line of defense if there's a claim or a loss. Without having this insurance in place the board members run the risk of being personally liable.



DIRECTORS & OFFICERS


D&O, covers individuals on boards, so they are not personally sued because of their participation in a company or organization. It can cover the legal expenses incurred with a lawsuit, plus damages. This is one way to safeguard your personal assets as well as that of your organization.



BONDS


Bonds are an important factor in business. We can help you set up your finances to have a larger bonding capacity so that you can work on larger jobs. Also we can turn Bonds around within 24-hours or less once we have the information we need. Our goal is to get you the job.



OTHER


We pride ourselves on hard to place insurance. We can fit your insurance needs, no matter what the request! Some other requests included: aircraft, charity events, concerts, antique cars, high-performance cars, prized pooches, pet insurance, weddings, celebrities & politicians, parades, malls, non-profits and haunted houses.



retirement


401(K) ROLLOVER


One great thing about a 401(k) retirement savings plan is that your assets are often portable when you leave a job. But what should you do with them? A rollover to an IRA (Individual Retirement Account) is one way to go, but you should consider your options before making a decision. There are several factors to consider based on your personal circumstances. F.I.C. can help you decide.



ANNUITIES/INDEXED ANNUITIES


Annuities can be structured according to a wide array of details and factors, such as the duration of time that payments from the annuity can be guaranteed to continue. Annuities can be created so that, upon annuitization, payments will continue so long as either the annuitant or their spouse (if survivorship benefit is elected) is alive. Alternatively, annuities can be structured to pay out funds for a fixed amount of time, such as 20 years, regardless of how long the annuitant lives. Furthermore, annuities can begin immediately upon deposit of a lump sum, or they can be structured as deferred benefits. An indexed annuity is a special class of annuities that yields returns on contributions based on a specified equity-based index. These annuities can be purchased from an insurance company, and similar to other types of annuities, the terms and conditions associated with payouts depend on what is stated in the original annuity contract.



ROTH / TRADITIONAL IRA'S


Trying to decide between a Traditional IRA or a Roth IRA? The type of individual retirement account (IRA) you choose can significantly affect your and your family’s long-term savings. So it’s worth understanding the differences between Traditional IRAs and Roth IRAs in order to select the best one for you.



INVESTMENTS


F.I.C Helps you find the right investment and minimizing the risk while taking the safest decision possible.



LIFE INSURANCE


Because you want to protect your loved ones and their future. We know you can't put a dollar amount on your family, but you can ensure their future is protected. And life insurance rates are more affordable than you might think. F.I.C. will help you find the best insurance rates that suits you.