What we see in Wayne
Wayne is a small, semi-rural village on the DuPage and Kane county line, known for large lots, horse farms and equestrian facilities. Its residents are largely executives, business owners and professionals, many of whom run a farm, boarding operation or other venture alongside their main income.
The returns that come out of Wayne are not high in volume but they are high in complexity: farm or equestrian activity, business ownership, investment income and estate planning. These are exactly the cases where an experienced Enrolled Agent earns the fee.
Wayne clients we work with most
Horse farms and boarding stables
Schedule F or business treatment, depreciation of barns, fencing and horses, and documentation that supports a profit motive.
Business owners and executives
Pass-through income, the PTE election, equity compensation and estimated tax coordination.
Estate and legacy planning
Illinois estate tax exposure, gifting strategies and titling, coordinated with your estate attorney.
The tax issues that actually come up in Wayne
These are the questions Wayne owners and households bring to Net Cash Pro most often. Several are Illinois-specific, which is exactly where national tax software and out-of-state preparers tend to get things wrong.
Hobby or business? The horse-farm question
The IRS presumes an equestrian activity is a business if it shows a profit in two of seven years, a looser test than the three-of-five that applies to most activities. If it does not, the activity has to be run like a business: a business plan, separate accounts, expert advice and changes when losses persist. Without that, the losses are not deductible at all.
The Illinois estate tax threshold
Illinois imposes its own estate tax with a $4 million exemption that is not portable between spouses and is far lower than the federal exemption. A DuPage household with a paid-off home, retirement accounts and a business interest can cross it without feeling wealthy. Lifetime gifting and how assets are titled need planning while both spouses are alive.
Conservation and land use
Large Wayne parcels sometimes qualify for property tax treatment or conservation arrangements that change the economics of holding land. These decisions are long-term and should be made with both the tax and estate consequences on the table.
The Illinois PTE election
Illinois lets a partnership or S-Corp elect to pay state income tax at the entity level. That converts what would be a capped personal state-and-local-tax deduction into a fully deductible business expense, and owners receive a credit on their personal Illinois return. Whether it is worth electing depends on owner income and DuPage property tax bills, so it gets modelled every year rather than assumed.
Flat fees, published up front
Net Cash Pro does not bill hourly. Wayne clients get a fixed price before any work starts, so a question in September does not turn into an invoice.
Federal + Illinois, e-filed
single-member LLC return
partnership return
starting price
Controller / CFO advisory starts at $1,995/month and includes everything in bookkeeping plus a monthly financial Scoreboard and Action Plan. See full pricing →
Frequently asked
Can my horse farm losses offset my other income?
Only if the activity is a business with a genuine profit motive, not a hobby. Equestrian activities get a two-of-seven-year profit presumption. Net Cash Pro reviews how the operation is run and documented and tells you plainly whether the losses are defensible.
Do you work with clients in Wayne in person?
Yes, by appointment at the Carol Stream office about fifteen minutes away, or by phone and video. Many Wayne clients prefer to send documents securely and meet virtually.
How much does a tax preparer cost in Wayne, IL?
Net Cash Pro charges flat fees rather than hourly rates: $225 for a personal federal and Illinois return, $550 for a sole proprietor or single-member LLC, and $850 for an S-Corp, C-Corp or partnership. Monthly bookkeeping starts at $495 and Controller/CFO advisory at $1,995. Wayne clients get the price in writing before any work starts.
Is Net Cash Pro open after tax season?
Yes. Net Cash Pro works year-round, not just January to April. Wayne clients can call about a purchase, a hire, a notice or year-end planning at any time, and flat-fee clients are not billed hourly for those questions.
Talk to an Enrolled Agent about your Wayne business
The first 30-minute consultation is free. Bring last year's return and we will tell you plainly whether there is money being left on the table.