• Offering cost-effective, quality audit and tax services.
  • Building long-term and effective professional relationships.
  • Serving the greater Chicago area and beyond.
Accounting Auditing Tax Services

Experience Counts

Welcome to Sassetti LLC !

Sassetti LLC is a full-service Certified Public Accounting Firm with a ninety year tradition of quality professional services.  Our clients include businesses, both privately-held and publicly traded, not-for-profit organizations, employee benefit plans and individuals.
Sassetti LLC was originally founded in 1921, and has been located in Oak Park, Illinois since 1964.
We are members of the American Institute of Certified Public Accountants, the Illinois CPA Society, the Center for Public Company Audit Firms and the AICPA Employee Benefit Quality Center.

2014 Year Under Review

January 2015
Final FASB Guidance 

Sassetti NFP Newsletter

1st Quarter 2015

Sassetti EBP Newsletter

1st Quarter 2015




News & Alerts

Tax News

Wed, 01 Jul 2015 04:00:00 GMT

Supreme Court Upholds Premium Assistance Tax Credit; Extends Same-Sex Marriage Nationwide

The U.S. Supreme Court has handed down two much-anticipated decisions: one on the Affordable Care Act’s key provision, the Code Sec. 36B premium assistance tax credit; and another on same-sex marriage nationwide. In King v Burwell, SCt, June 25, 2015 (2015-1 ustc ¶50,356), the Court ruled 6 to 3 that the Code Sec. 36B credit is available to enrollees in both federally-facilitated and state-run Exchanges (currently commonly referred to as Marketplaces). In Obergefell v. Hodges, SCt, June 26, 2015 (2015-1 ustc ¶50,357), the Court ruled 5 to 4 that the Fourteenth Amendment requires a state to license a marriage between two people of the same sex and to recognize a marriage between two people of the same sex when a marriage was lawfully licensed and performed out of state. Both decisions have far-reaching tax consequences.

Wed, 01 Jul 2015 04:00:00 GMT

Trade Package Includes Individual and Business Tax Provisions

Just before recessing for the Independence Day holiday, Congress passed two trade bills with important tax changes affecting individuals and businesses. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (HR 2146) and the Trade Preferences Extension Act of 2015 (HR 1295) are expected to be signed into law by President Obama as soon as they reach the White House. A third trade bill, the Trade Facilitation and Enforcement Act of 2015 (HR 644) is going to a House-Senate conference to iron-out differences.

Assurance News

Tue, 30 Jun 2015 04:00:00 GMT

Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (File Reference No. 2015-250) (“the ED”)

BDO supports the proposed clarifications about performance obligations and licenses, but recommends certain enhancements in the final standard.

Mon, 29 Jun 2015 04:00:00 GMT

Recognition of Breakage for Certain Prepaid Stored-Value Cards (Subtopic 405-20) (File Reference No. EITF-15B)

BDO supports recognizing breakage revenue for certain prepaid cards, but recommends clarifying the scope of which cards are included in the final standard.

General Business News