Professional Services

Results Driven

 

For professional services entities, one of the predominant business challenges is effective management of their human capital. The ability to effectively manage that capital through monitoring time, understanding pricing, managing overhead, and overseeing cash flow is critical to ensuring a successful practice.

Proudly serving:

  • Law Practices
  • IT Consulting
  • Public Relations
  • Medical Practices
  • Engineering
  • Marketing and Advertising
  • Architectural
  • Management Consulting
  • Interior Design

We can provide accounting and assurance, tax consulting and compliance, and consulting services to address the unique challenges that professional services firms and their stakeholders face. Services include:

  • Addressing Complex Income Allocation and Compensation Issues
  • Analyzing Cost Structures and Pricing Strategies
  • Assisting With the Development of Strategies Designed to Support Growth and Profitability
  • Helping Evaluate the Strength of Internal Controls, to Establish “Best Practices” and Help Prevent Business Fraud and Theft
  • Providing Bookkeeping and QuickBooks® Services

Attorney Support Services

MichaelSilver partners with attorneys to provide a range of value added services designed to help them serve their clients, including: 

  • Litigation Support and Forensic Accounting
  • Valuation Services
  • Pooled Expense Fund Management
  • Due Diligence
  • Tax Consulting/Internal Revenue Service Issues

We help you address operational
and financial challenges.

Janell Wilson

Janell Wilson

CPA, Partner

Jennifer A. Barliant

Jennifer A. Barliant

Jennifer A. Barliant

CPA, CGMA, Partner

Silver Advantage Alerts

Illinois Sales and Use Tax Applies to Leased or Rented Tangible Personal Property

In 2025, Illinois is expecting changes to take effect, including easier gym membership cancellations and the introduction of digital driver’s licenses. One significant change that became effective on January 1, 2025, impacts those who lease or rent tangible personal property to others in the ordinary course of business. Lessors are now considered to be retailers subject to Illinois’ Sales and Use Tax, and are required to register with the Illinois Department of Revenue (IDOR) and pay tax on lease or rental receipts.

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The Importance of Due Diligence in Buying a Business

Buying a business is like picking a spouse from a dating app. The picture looks good, the bio reads well, and the prospects seem favorable. Then you sit back and think, “Hey, pictures can be doctored; that person authored his/her bio, and you have no idea if this person has lifetime friends, comes from a good family, is in debt up to their eyeballs, or has a history of stable relationships.”

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