Terry has been in the accounting industry for many years and has spent his entire career at the firm. Terry has extensive experience working with family-owned, multi-generation businesses. In addition, he leads the auditing practice at the firm.
Terry received a Bachelor of Arts from St. Mary’s University in Winona, Minnesota, with additional graduate studies at DePaul University. Additionally, Terry is a member of the Illinois CPA Society and the American Institute of Certified Public Accountants and Chartered Global Management Accountant. Prior to joining the firm in 1966, Terry’s previous work experience included positions with Harris Bank and Southtown Economist Newspaper.
Terry is a fourth generation south side Chicago native. He and his wife, Carol, have been married since 1966. Carol is a former Trustee of the Village of Indian Head Park. Their daughters Becky and Debby are also partners of the firm, and Terry is delighted to be working side-by-side with them. Terry and Carol love spending time with their two grandchildren. They also enjoy visiting with Terry’s amazingly independent 104-year-old mother, as well as taking walks with neighbors, and traveling in the off-season. Terry is a self-proclaimed “lousy golfer,” pheasant hunter, and target shooter.
Put your focus back on your business by handing your accounting work over to our firm. When you outsource your accounting function to us, you get a team of professionals working for you. We handle your complex tax and accounting work while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.
Next Generation Accounting Firms provide clients with the highest level of client service and professional support. At Coleman & Associates CPAs, Ltd., we go beyond the numbers to partner with clients—working year round to ensure you stay on a healthy financial path. We also offer an ...
It’s been said that timing is everything. With the reduction of individual income tax rates under the Tax Cuts and Jobs Act, now may be the right time to convert a traditional IRA to a Roth IRA.
The Section 179 deduction has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of depreciating them over time. For 2019, the maximum deduction is $1.02 million, subject to a phaseout rule if more than $2.55 million of eligible property is placed in service during the tax year. Even better, the Sec. 179 deduction isn’t the only avenue for immediate tax write-offs for assets such as machinery and equipment. Under the 100% bonus depreciation tax break, the entire cost of eligible assets placed in service in 2019 can be written off this year. Contact us to learn how your business can maximize the deductions.
Business owners have been engaging in bartering transactions for hundreds of years. But if your company trades goods or services today, be aware there are tax consequences.