Tax Strategy for the
Capital City.
Springfield is not just another town — it is a unique economy of state government, world-class medicine, and local enterprise. You need a CPA who understands SERS pensions, SIU Medicine contracts, and the local tax landscape. We have served the Capital City for years, and we know the difference.
More Than Just "Filing Taxes"
In the Land of Lincoln, integrity matters. But so does intelligence. Abraham Lincoln was known for his honesty — but he was also a shrewd lawyer who understood the law better than anyone else in the room. At Taxstra, we embody that same spirit. We do not just put numbers in boxes. We dig into the tax code to find every legal advantage for our neighbors here in Sangamon County.
Springfield's economy creates specific, recurring tax situations that a generic CPA will miss. State employees navigating SERS contributions, 457(b) deferred comp, and the potential pension exclusion on their Illinois return. Physicians at Memorial Health, HSHS St. John's, and Springfield Clinic with complex W-2 income, side 1099 contracts, and high-income retirement planning. Business owners dealing with IDOR compliance, S-Corp payroll, and Illinois PTET elections. Each group needs a specialist — not a generalist who Googles the answer.
Tax preparation at Taxstra is not a standalone event. It is the final step in a year-round planning process. By the time we prepare your return, we have already met with you to discuss your estimated liability, implement strategies, and make any last-minute adjustments. Filing is the execution of the plan — not the beginning of it.
State Employees
We understand the nuances of State of Illinois employment: SERS/SURS pension contributions and distributions, 457(b) deferred compensation, the Illinois pension income exclusion, back-pay tax treatment, and the tax implications of side income or part-time self-employment.
Learn moreMedical Professionals
Serving physicians at Memorial Health, HSHS St. John's, and Springfield Clinic. We specialize in locum tenens multi-state 1099 income, K-1 partnership income, and high-income tax reduction strategies including retirement stacking and real estate investing.
Learn moreLocal Business Owners
From contractors in Chatham to retail on MacArthur Boulevard, we handle S-Corp elections, payroll compliance, Illinois PTET elections, and IDOR sales tax filings for Springfield-area businesses of every size and industry.
Learn moreReal Estate Investors
Springfield-area landlords, Airbnb operators, and real estate investors. We handle Schedule E reporting, passive activity loss rules, cost segregation documentation, and the complex interplay between real estate and your active income.
Learn moreLed by a Former State Employee
Pension & 457(b) Planning
Most CPAs do not understand how the State's 457(b) deferred compensation plan interacts with other retirement accounts. We do. We help you maximize contributions in high-income years, coordinate with your SERS pension projections, and plan distributions for minimum tax impact.
Side Gig Optimization
Many state workers have side businesses or consulting income. We help you structure them correctly — LLC vs. S-Corp — to minimize self-employment tax without creating compliance conflicts with your primary state employment. We also ensure proper tracking of the Illinois pension exclusion.
Multi-State Filing
Physicians and state employees often have income from multiple states — locum tenens work, remote consulting, or income-producing property in other states. We file multi-state returns accurately and minimize double taxation through proper non-resident return planning.
Learn morePSLF Tax Coordination
For SIU Medicine faculty, state agency employees, and other qualifying professionals, we coordinate Public Service Loan Forgiveness with your annual tax strategy. Filing status, AGI management, and income-driven repayment selection all affect how much debt is ultimately forgiven — and how much you pay in income tax.
Retirement Stacking
For physicians and business owners with side 1099 income, a Solo 401(k) or SEP-IRA layered on top of your employer plan can shelter significant additional income. We model the contribution limits, coordination rules, and deduction impact before the year closes.
Learn moreHigh-Income W-2 Strategies
Even without a business, high-income Springfield professionals have powerful tools: backdoor Roth IRA, health savings accounts (triple tax advantage), donor-advised funds, cost segregation on rental properties, and the short-term rental loophole. We identify and implement every applicable strategy.
Learn moreStop Guessing. Start Saving.
Schedule a free 30-minute strategy call to see how much you could save this year. No obligation, no pressure — just a clear picture of what proactive tax planning looks like.
Schedule Your Free CallHow We Work Together
Free 30-Minute Strategy Call
We start by understanding your income sources, prior-year return, and goals. If you have specific questions about SERS, PSLF, or locum tenens taxation, this is where we address them.
Document Collection
You upload W-2s, 1099s, and supporting documents through our secure TaxDome client portal. We send a customized organizer so nothing is missed — including state-specific items like SERS contribution statements and 457(b) records.
Preparation & Review
We prepare your return and walk you through the key numbers in a review meeting. We explain what changed, why your refund or balance due looks the way it does, and what you can do differently next year.
Filing & Year-Ahead Planning
After filing, we do not disappear until next April. We send you a quarterly estimated payment schedule, flag any mid-year planning opportunities, and begin next year's strategy at the same time.
Real Results in Springfield
SERS Employee — 457(b) + Side Business
A Department of Commerce employee earning $87K from the State with a $55K side IT consulting practice. Previous CPA filed both as ordinary income on a Schedule C. We elected S-Corp status for the consulting business (saving $5,600 in SE tax), maximized his 457(b) ($23,500 for 2026), and coordinated the contributions with his SERS pension projections. Combined annual savings: $23,000+.
Annual Savings
$23,000
SIU Medicine Faculty — PSLF Coordination
An assistant professor at SIU School of Medicine earning $310K with $380K in student loans on an income-driven repayment plan targeting PSLF. We restructured her return to lower her discretionary income for IDR purposes while still maximizing retirement contributions. First-year tax savings from strategy: $28,000. Projected PSLF forgiveness impact: $180,000+ over remaining loan term.
Annual Savings
$28,000
Springfield Clinic Physician — Multi-State + Entity
A Springfield Clinic specialist earning $580K with $120K in locum tenens income across four states. His previous national firm filed him as a sole proprietor with four state returns. We elected S-Corp for the locum income (saving $11,200 SE tax), coordinated multi-state filing to minimize total state tax, and established a Cash Balance Plan funded with $165K. First-year savings: $62,000.
Annual Savings
$62,000
Resources for Springfield Taxpayers
Locum Tenens Tax Guide
Tax strategies specific to 1099 locum tenens income.
Marginal Tax Rate Calculator
See your effective and marginal federal tax rates.
S-Corp Election Guide
When and how to elect S-Corp status for side income.
STR Loophole Guide
Use short-term rental properties to offset active income.
REPS Qualification Guide
Qualify as a Real Estate Professional to unlock passive loss rules.
Serving Springfield & Central Illinois
Based in Springfield, IL, we serve clients in person and remotely across Central Illinois and beyond.
Tax Preparation Questions
Yes. Illinois generally excludes pension income from the Illinois income tax for qualifying pension distributions from state and local government retirement systems (SERS, SURS, TRS, IMRF). We ensure the exclusion is applied correctly on your IL-1040 and coordinate the federal treatment of your pension income. If you have both pension and 401(k)/IRA distributions, the sourcing rules matter.
Absolutely. Mixed W-2 and 1099 income is one of our most common situations — particularly for physicians moonlighting, state employees consulting on the side, and professionals with freelance projects. We coordinate the reporting, ensure your quarterly estimated payments cover both income streams, and identify entity structuring opportunities for the 1099 portion.
Federal individual returns are due April 15. The Illinois return is also due April 15. If you request a federal extension (Form 4868), Illinois follows automatically — extending both to October 15. An extension to file is not an extension to pay; any tax owed is still due by April 15 to avoid penalties.
Rental income is reported on Schedule E of your federal return. If you own multiple properties, each is reported separately. We handle depreciation schedules, passive activity loss tracking, and — if you qualify — the Real Estate Professional election that converts passive losses to active deductions. For Springfield STR (Airbnb/VRBO) operators, the short-term rental rules are different and more favorable.
We respond to IRS and Illinois Department of Revenue notices for all clients whose returns we prepared. This is included in your engagement — there is no additional charge for responding to a notice that results from our preparation. We also provide representation for audits, payment plan negotiations, and penalty abatement requests.
Yes. Cryptocurrency transactions (sales, trades, staking rewards, airdrops) require Form 8949 and Schedule D reporting. RSUs and non-qualified stock options generate W-2 income at vesting/exercise, plus capital gain reporting when shares are sold. ISOs may trigger Alternative Minimum Tax. We handle all of it correctly and flag planning opportunities before they become problems.
Work With A Local Expert.
We are conveniently located on the west side of Springfield, but we work with clients digitally every day. Book a free 30-minute strategy call — in-person, Zoom, or phone.