Hickel CPA

 

Tax | Accounting | Bookkeeping | Payroll

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Knowledge

We're a small office that's big on knowledge and experience.  Even though we have years of experience, the tax code is constantly changing, we invest in continuing education to stay trained and up-to-date on tax matters.

Experience

Hickel CPA has been a part of the Hinsdale business community for over 40 years.  Our key to success is providing you with the best in personalized service from our staff of seasoned professionals. 

Trust

We're not going anywhere. Hickel CPA is a  family owned business and now under ownership of the 2nd generation CPA.  Our clients know we are here to stay.  We care about our clients and it's reflected in our reputation. 

Current News

The One Big Beautiful Bill Act (OBBBA) was passed by the Senate on July 1 and House on July 3, and signed into law by the President

on July 4. The bill aims to extend or make permanent several provisions of the Tax Cuts & Jobs Act (TCJA) set to expire at the end of 2025.

There are many tax povisions that are new, many that have been extended and some that were (or will be) cut).  There is WAY too much information from this Bill to list in this snapshot, but some of the key takeaways are tax brackets being made permanent, an increase in the SALT (State and Local Tax) deduction to $40,000, no income tax on Tip and Overtime pay for certain individuals in certain industries, and car loan interest becoming deductible for certain new car purchases.  

The QBID (Quailified Business Income Deduction) is also here to stay for small business owners and the income limits have been broadened which increases the ability to benefit from this deduction. 

As you probably expect, there are limits, restrictions, phase outs and phase ins to all of these provisions so please contact us to discuss your specific situation and address any questions that you have.