Personalized Attention, Professional Accounting Expertise

 

At Sharon M. Gum, CPA, we believe every client deserves personalized attention. That’s why we take the time to understand your unique needs and goals. Located in Waterloo, IL, we’re proud to serve individuals and businesses throughout Monroe County with top-notch accounting services.

Whether you need help with tax preparation, payroll, or financial planning, we deliver solutions designed just for you. Our team is always accessible, providing clear communication and expert advice you can trust. With Sharon M. Gum, CPA, you’ll never feel like just another client.

Experience the difference of working with a local CPA who truly cares about your success. Call us today to schedule your consultation!

https://sharonmgumcpa.com

Sharon M. Gum, CPA

405 Hartman Ln

Waterloo, IL 62298

https://www.google.com/maps?cid=1214929904421373116

Should I File My Business as a C Corporation or an S Corporation?

 

Both C corporations and S corporations must file corporate tax returns to local, state, and federal authorities once a year. In general, any corporation other than an LLC is a C corporation. Other differences between C and S include:

C Corporations

-Owners or shareholders are taxed separately from the entity.

-Profits from the business are taxed at both corporate and personal levels, potentially subject to double taxation.

S Corporations

-May pass income, losses, credits, and deductions directly to shareholders.

-Usually associated with small businesses with 100 or fewer shareholders).

-Offers the tax-exempt privileges of a partnership.

Once a company is established as a C corporation, it can file an option to be taxed as an S corporation, which allows tax obligations to pass through to an owners’ personal tax reporting. Our team will offer advice as to how to file for your business.

Sharon M. Gum, CPA

405 Hartman Ln

Waterloo, IL 62298

https://sharonmgumcpa.com/business-tax-returns/

https://www.google.com/maps?cid=1214929904421373116

Handling Past-Due Returns and "Back Taxes"

 

Life happens, and sometimes tax filings fall through the cracks. If you’ve missed a year (or several) of tax returns, the weight of "back taxes" and potential penalties can feel overwhelming. Sharon M. Gum, CPA, offers a judgment-free, professional environment to help Waterloo residents get caught up and back in good standing with the IRS and the state.

We help you reconstruct your financial records, file the missing returns, and explore options for penalty abatement or payment plans. The worst thing you can do is continue to wait—the sooner you address past-due returns, the more options we have for a favorable resolution. We’re here to help you clear the slate and move forward with peace of mind.

Don't let the past hold back your financial future. Contact Sharon M. Gum, CPA, for expert, discreet assistance with unfiled returns in Monroe County. Let's get you back on track together.

Sharon M. Gum, CPA

405 Hartman Ln

Waterloo, IL 62298

https://sharonmgumcpa.com/

https://www.google.com/maps?cid=1214929904421373116

The Value of a Year-Round CPA Relationship

 

Most people only think about their CPA once a year, but the real value of working with Sharon M. Gum, CPA, is the relationship we build over time. When we work together year-round, we understand the "story" behind your numbers, allowing us to provide proactive advice that a once-a-year tax preparer simply can't offer. We aren't just filing forms; we’re supporting your lifestyle.

Whether you're considering a major purchase, changing careers, or starting a family in Waterloo, having a trusted financial advisor on speed-dial ensures you make the best possible decisions. We’re here to answer your quick questions in July just as much as we’re here for your tax return in March. It’s about having a partner who is invested in your long-term success.

Experience the difference of personalized, local service. Join the many Monroe County residents who rely on Sharon M. Gum, CPA, for year-round financial clarity. We look forward to being your partner for years to come.

Sharon M. Gum, CPA

405 Hartman Ln

Waterloo, IL 62298

https://sharonmgumcpa.com/

https://www.google.com/maps?cid=1214929904421373116