Accounting firm of the yearBookkeeping Services for Illinois Businesses
Accurate books. Filed on time. Fixed monthly pricing.
Illinois asks more of a business than most states: a state return on top of the federal one, the personal property replacement tax on top of that, and in Chicago a set of city taxes that catch out software and hospitality businesses in particular. Orbit keeps your books reconciled to every one of those filings.
Meet our Founders
Malay Matalia
Co-founder
Orbit was born out of a simple idea: organizations should have access to timely, accurate books and clear, transparent pricing. As clients grow and expand globally, our job is to keep their finances grounded with smart systems and proactive support, every step of the way.
Why Illinois business owners trust Orbit with their books
State and federal returns that agree
We prepare your federal return together with the Illinois IL-1120 or IL-1120-ST, including the personal property replacement tax, so the two filings tell the same story and neither has to be amended later.
Reporting you can act on
A monthly profit and loss, balance sheet and cash snapshot, delivered on a schedule you can plan around, with the detail your state filings and any pass-through election depend on.
Sales tax across home-rule jurisdictions
Illinois layers county and home-rule city rates on top of the state rate, so what you collect depends on where the sale happens. We keep the rate setup current and reconcile tax collected against tax remitted every month.
Payroll and withholding on schedule
Illinois withholding returns, unemployment insurance filings, and W-2 and 1099 preparation at year end, with payroll posted and reconciled in the ledger every period.
Bookkeeping in Illinois, explained
What the state actually asks of you, and where the books have to line up
Illinois is one of the more demanding states to file in. There is a state income tax return on top of the federal one, a replacement tax layered on top of that, sales tax rates that change by home-rule jurisdiction, and a set of Chicago city taxes that reach businesses which never think of themselves as retailers.
How Orbit Accountants works with your Illinois Business
1. Discovery call
We map your entity type and Illinois filing profile, where you sell and which home-rule rates apply, any Chicago city taxes, and your current stack.
2. Tailored proposal (fixed fee)
Clear scope and timelines-cleanup if needed, then a monthly cadence you can budget against.
3. Welcome & kickoff
Orbit Portal access plus a checklist for the prior-year trial balance, bank and credit statements, payroll files, and app connections.
4. System setup & mapping
QuickBooks Online or Xero with Dext or Hubdoc. We connect Shopify, Stripe, Square and your POS, map payroll accounts, and set Illinois sales tax rates by jurisdiction.
5. Catch-up & cleanup (if needed)
We reconcile accounts, fix historical issues, rebuild the chart of accounts, and prepare accurate opening balances.
6. Monthly close
Bank, credit card and loan reconciliations, A/R and A/P aging, payroll entries, use tax accrual, and review-always on schedule.
7. Sales tax and payroll filings
Illinois sales tax returns filed on your assigned frequency and reconciled to the ledger, with withholding and unemployment filings kept on the same calendar.
8. Year-end and state returns
A clean year-end package, then the federal return prepared together with the IL-1120 or IL-1120-ST and the replacement tax, so both filings agree.
Why Illinois companies switch to Orbit?
Before Orbit
- Behind on month-end; decisions feel blind.
- State return and federal return disagree.
- Replacement tax missed, or discovered late.
- Sales tax collected at the wrong local rate.
- Hourly invoices and scope creep.
- Email chaos and document chasing.
Industries we serve in Illinois
Specialized bookkeeping for every sector - explore yours below.
Let’s get you back on track real quick!
Stress-free and reliant
Trusted by high-
growth organizations
"I've been working with Orbit since the beginning of 2026 and couldn't be happier. They are professional, detail-oriented, responsive, and always timely. As the owner of a one-person corporation, I greatly appreciate having such a reliable accounting team in my corner. Highly recommended!"
Maja Djikic
Consultant
Tailored, Transparent Pricing for your Business
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Frequently Asked Questions
Across the state. We work with businesses in Chicago, Evanston, Naperville and Schaumburg, and equally with Rockford, Peoria, Springfield, Champaign and downstate. The work is done remotely, so your location within Illinois does not change the service or the price.
A dedicated bookkeeper who knows your business, with manager review on reconciliations, reporting and the year-end package. You are not routed to whoever is free that week.
Yes. We prepare your federal return together with the Illinois IL-1120 or IL-1120-ST, so the two agree. Partnerships file the IL-1065 on the same basis.
It is an Illinois tax charged on the income of corporations, partnerships and S corporations, separate from the income tax and calculated differently. It applies to most entities doing business in Illinois, and it is a common surprise for pass-through owners who assumed their structure removed any state-level liability. We calculate and file it as part of the same engagement.
It depends on your owners' personal positions, so it is a planning conversation rather than a default. What we can say is that the election only works cleanly if the underlying books support it, and we will flag it as an option rather than let the deadline pass unmentioned.
Illinois adds county and home-rule municipal rates to the state rate, so the total depends on where the sale happens. We configure the rates for the jurisdictions you actually sell into, file on your assigned frequency, and reconcile tax collected against tax remitted every month.
It can. Chicago's lease transaction tax reaches software and cloud services, so a business that sells or buys SaaS may owe city tax without ever selling a physical product. We identify which Chicago taxes apply during onboarding and agree the scope in writing.
Payroll is available as an add-on. It covers Illinois withholding and unemployment insurance filings, plus W-2 and 1099 preparation at year end. If you have no qualifying retirement plan, we will also flag whether the Illinois Secure Choice mandate applies to you.
Reconciled bank, credit card and loan accounts, a profit and loss, balance sheet and cash snapshot, A/R and A/P aging, use tax accrued, and your sales tax filing prepared and reconciled to the books.
We target a close within 20 days of month-end, and most files land sooner once we are settled into your cadence.
Fixed monthly pricing with a defined scope. You are not billed for questions, and the fee does not move because a month was busy.
Most files are live within five business days. We connect your bank and credit card feeds, bring across the prior year's balances, agree your monthly reporting pack, and set up Orbit Portal access.
Catch-up is quoted separately from the monthly fee, based on how many months are outstanding and the state they are in. You see the number before any work starts, and once you are current the monthly cadence takes over.
Everything your finance function needs, under one trusted partner
From clean books to strategic CFO guidance, Orbit Accountants delivers the full back-office stack for U.S. small and medium-sized businesses. Fixed monthly pricing, on-time month-end, and a dedicated team that actually knows your business.
Bookkeeping & Reconciliations
Maintain pristine monthly financial records with expert categorization and bank reconciliations, so every dollar is accounted for, always.
"Our books went from a mess to perfect within 2 weeks."