Oldenburg Accountants & Advisors

Oldenburg Accountants & Advisors I have a boutique CPA firm serving business owners. I help them structure a tax-advantaged deal when buying or selling the business.

I prepare accurate financial statements and meet regularly with business owners to help them interpret the financials. Since 1991, Oldenburg Accountants & Advisors has been committed to providing reliable, high-quality tax, accounting and advisory services to small and medium-sized enterprises (SMEs) in northern Illinois and Chicagoland. Our clients are family-owned businesses and often, multi-gen

erational. Oldenburg Accountants & Advisors a small, boutique CPA firm where the owner, Sue Oldenburg, is directly involved with every business owner client. We have a reputation for sustaining long-term relationships with our clients. We work proactively with SME business owners to help them interpret and act upon the financial indicators of their businesses so they can make decisions based on reality instead of operating in the dark. We specialize in assisting our clients to:
--Track profitability by job, customer, product, department or location
--Forecast and improve cash flow
--Benchmark against their peers in their industry
--Determine critical success factors for their particular business
--Establish and measure key performance indicators
--Present financial information to banks to win loans

Owner and founder Susan A. Oldenburg is an experienced business owner with more than twenty-five years in the public accounting industry. As both a CPA (Certified Public Accountant) and EA (Enrolled Agent), Sue has a comprehensive knowledge of business planning and monitoring as well as a specialized knowledge of taxation. Under both designations, she has unlimited practice rights and is unrestricted to which taxpayers can be represented before the IRS. When she is not at the office, you can find her reading, listening to music, cooking, spending time with her cat Lizzi and relaxing with friends and family in Door County.

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and pla...
09/03/2026

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and planning are a big deal.

In addition to reporting business income and expenses, you may owe self-employment tax and need to make quarterly estimated payments. You might also need an employer identification number (for example, if you hire employees). State and local income, sales, payroll, and other tax requirements may apply, too. Careful planning can help you maximize deductions and choose the right retirement plan for your situation.

Contact us at (847) 263-0303 to learn more about the tax aspects of being a sole proprietor, including the reporting and recordkeeping requirements.

Tax law changes have created new planning opportunities for 2026. A review of your expected income and expenses for the ...
09/02/2026

Tax law changes have created new planning opportunities for 2026. A review of your expected income and expenses for the year, along with any significant life changes, may uncover strategies to reduce your taxes. Start the conversation before year-end for more time to take tax-saving steps. And if you extended your 2025 return, we can help you file before the Oct. 15 deadline. Call us at (847) 263-0303 to schedule an appointment.

Businesses have long used bank lockbox services to accelerate collections and reduce work involved in processing checks....
09/01/2026

Businesses have long used bank lockbox services to accelerate collections and reduce work involved in processing checks. Now, technology enables lockbox users to automate many accounts receivable procedures. But other electronic payment methods, including ACH and credit cards, may provide less expensive, yet effective, solutions. To determine what makes sense for your organization, evaluate the volume of paper checks you receive. If it’s high, you might benefit from a lockbox service. Otherwise, consider accepting paper checks while steering customers to electronic methods. Talk to your bank about its services, and call us at (847) 263-0303 for help calculating your current payment-processing costs.

Effective job costing can help business owners make smarter pricing and budgeting decisions. By tracking the direct labo...
08/31/2026

Effective job costing can help business owners make smarter pricing and budgeting decisions. By tracking the direct labor, materials and overhead tied to specific jobs or projects, you gain a clearer picture of profitability and operational efficiency. Without accurate data, it’s easy to underprice work, overlook cost overruns or misjudge your most profitable services. We can help you set up practical costing methods that improve financial insight and support better decision-making. Call us at (847) 263-0303 for more information.

Recent tax law changes made the New Markets Tax Credit permanent. This program encourages private investment in economic...
08/27/2026

Recent tax law changes made the New Markets Tax Credit permanent. This program encourages private investment in economically distressed communities by offering federal income tax credits to qualifying investors.

If your business invests in a certified community development entity (CDE), you may be eligible for a credit equal to 39% of your investment over seven years. Alternatively, your business may benefit indirectly by receiving CDE financing for renovations, equipment, expansion or other eligible projects in qualifying low-income communities.

We can help you estimate the potential tax or financing benefits and comply with the applicable requirements. Call us at (847) 263-0303 to learn more.

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can ...
08/26/2026

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (847) 263-0303 with any questions about this deduction.

A business valuation prepared by a qualified professional can play a critical role in transactions and strategic decisio...
08/25/2026

A business valuation prepared by a qualified professional can play a critical role in transactions and strategic decisions. These include business sales, M&As, litigation, estate planning and buy-sell agreements. Because valuation professionals analyze a wide range of qualitative and quantitative factors, the process can reveal opportunities to boost performance and maximize return on investment. Understanding key concepts — including fair market value, fair value, going-concern value, and valuation premiums and discounts — helps owners interpret results and make more informed decisions. Call us at (847) 263-0303 to learn more.

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit fo...
08/24/2026

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit for lower-income taxpayers increases from 35% to 50% of the first $3,000 of qualified expenses for one child ($6,000 for two or more children). Some middle-income taxpayers may also qualify for a larger percentage than in prior years. Call us at (847) 263-0303 to learn how the updated rules may apply to your family.

Your employees use Form W-4, “Employee’s Withholding Certificate,” to tell you how much federal income tax to withhold f...
08/20/2026

Your employees use Form W-4, “Employee’s Withholding Certificate,” to tell you how much federal income tax to withhold from their pay. Most forms are routine, but an altered certificate, unusual accompanying statement or IRS lock-in letter may require special handling. Employers generally aren’t responsible for verifying the information employees provide on W-4 forms. However, you must reject invalid forms, apply proper withholding rules when no valid form is on file and follow IRS withholding instructions. Reviewing your payroll procedures now can help prevent costly errors. Contact us at (847) 263-0303 for guidance on W-4 compliance and other payroll withholding issues.

The 40% generation-skipping transfer (GST) tax generally applies to transfers made to people two generations or more bel...
08/19/2026

The 40% generation-skipping transfer (GST) tax generally applies to transfers made to people two generations or more below you, like your grandchildren. And it applies on top of any gift or estate tax due. The good news is that a large GST tax exemption is available: $15 million for 2026. So most taxpayers don’t need to worry about the GST tax. But if you have a large estate, you can allocate your GST tax exemption to contributions to a dynasty trust and allow assets to skip several generations of taxation. Contact us at (847) 263-0303 to learn more.

Address

100 N Atkinson Road, Suite 106
Grayslake, IL
60030

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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