Block and Associates, Inc.

Block and Associates, Inc. Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Block and Associates, Inc., Insurance broker, 1650 N Arlington Heights Road, Arlington Heights, IL.

We are a boutique financial planning firm which has served the marketplace for over 40 years with uncommon solutions to address the economic aspects of wealth transfer planning, estate planning, and financial planning.

Tax Planning 101: “The Accrual Basis” is a method of accounting that recognizes revenue when earned, rather than when co...
07/27/2023

Tax Planning 101: “The Accrual Basis” is a method of accounting that recognizes revenue when earned, rather than when collected. Expenses are recognized when incurred rather than when paid.

ROI or Return on Investment is a measure used to evaluate the financial performance relative to the amount of money that...
07/26/2023

ROI or Return on Investment is a measure used to evaluate the financial performance relative to the amount of money that was invested. The ROI is calculated by dividing the net profit by the cost of the investment.

Earned income credit: If your adjusted gross income is below a certain amount, you may be able to claim the earned incom...
07/25/2023

Earned income credit: If your adjusted gross income is below a certain amount, you may be able to claim the earned income credit, which might wipe out your income tax bill and even result in a refund of any leftover credit. The exact credit amount depends on your income level, as well as how many qualifying children you have.

Charitable contribution: A gift of cash or property to a qualified charity for which a tax deduction is allowed. You mus...
07/24/2023

Charitable contribution: A gift of cash or property to a qualified charity for which a tax deduction is allowed. You must have either a receipt or a bank record (such as a cancelled check) to back up any donation of cash, regardless of the amount. Donations of $250 or more must have an acknowledgement from the charity.

“Life isn’t about finding yourself. Life is about creating yourself.”― George Bernard Shaw
07/21/2023

“Life isn’t about finding yourself. Life is about creating yourself.”― George Bernard Shaw

If you are considering selling your home or have recently sold your home, there are possible tax consequences. The good ...
07/20/2023

If you are considering selling your home or have recently sold your home, there are possible tax consequences. The good news? Much of the gain on the sale of your home may be tax exempt. The bad news? If you sold your home at a loss, in all likelihood, there is not a deduction available to you.

A partnership is the relationship between two or more people to do trade or business. Each person contributes money, pro...
07/18/2023

A partnership is the relationship between two or more people to do trade or business. Each person contributes money, property, labor or skill, and shares in the profits and losses of the business

07/17/2023

A Limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners.

Courage is knowing what not to fear. Plato
07/14/2023

Courage is knowing what not to fear. Plato

Equity denotes the value left over after liabilities have been removed. Recall the equation Assets = Liabilities + Equit...
07/12/2023

Equity denotes the value left over after liabilities have been removed. Recall the equation Assets = Liabilities + Equity. If you take your Assets and subtract your Liabilities, you are left with Equity, which is the portion of the company that is owned by the investors and owners.

07/12/2023

Depreciation is the term that accounts for the loss of value in an asset over time. Generally, an asset has to have substantial value in order to warrant depreciating it. Common assets to be depreciated are automobiles and equipment. Depreciation appears on the Income Statement as an expense and is often categorized as a “Non-Cash Expense” since it doesn’t have a direct impact on a company’s cash position.

The cash method of accounting is easier to understand and more closely reflects how money is coming in and out of the bu...
07/11/2023

The cash method of accounting is easier to understand and more closely reflects how money is coming in and out of the business. However, it doesn't tell you how much people owe you or how much debt the business owes. The accrual method better reflects how the business is actually doing.

Address

1650 N Arlington Heights Road
Arlington Heights, IL
60004

Telephone

+18475771610

Website

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