Ahlbeck & Company again received the highest rating possible on its independent peer review of the firm's accounting and auditing practice for the year ended February 28, 2009. The reviewer concluded that the firm's system of quality control for the accounting and auditing practice has been suitably designed and complied with to provide reasonable assurance of performing and reporting in conformity with applicable professional standards in all material aspects. The firm received a rating of "pass," indicating that it meets the accounting profession's high standards of quality and professionalism.

Ahlbeck & Company participates in the Peer Review Program, a practice-monitoring program approved by the American Institute of Certified Public Accountants (AICPA), in fulfillment of an AICPA requirement. Peer review offers the assurance that the participating certified public accounting firm is committed to performing at the very highest level. Ahlbeck & Company has undergone this rigorous independent review of its accounting and auditing practice every three years since 1991.

"This rating confirms Ahlbeck & Company's commitment to quality," stated Dirk Ahlbeck, co-principal, "and we are proud of the positive results we have received on each peer review. We will continue to work toward improving the quality of the firm and the service we provide to our clients."

TOM AHLBECK & JOY ANDERSON
AWARDED 2008 VOLUNTEER OF THE YEAR

The District 63 Education Foundation recently awarded the 2008 Volunteer of the Year award to Tom Ahlbeck and Joy Anderson at the 4th Annual Award Dinner and Auction on November 13, 2008 at the Chateau Ritz in Niles, Illinois. Over 500 people attended the event entitled "Carry the Ball for Kids" held to benefit the Total Learning Community (TLC) afterschool and summer programs.

Tom and Joy were among several recipients receiving awards that evening. They received the 2008 Volunteer of the Year award on behalf of Ahlbeck & Company for providing ongoing accounting services on a volunteer basis for the past few years. With a strong belief in the goals of the District 63 Education Foundation, Tom was a founding member of the Board of Directors. Joy also believes in applying her professional skills and knowledge where needed in the community. "Working with the Foundation has been a rewarding and fulfilling experience," commented Joy. "It has been a pleasure serving this organization."

Thomas H. Ahlbeck, CPA, principal, is a recurring guest on the FM radio show "Impact," a segment on WTMX-FM 101.9. With nearly 30 years of tax expertise and public accounting experience, he recently returned to discuss the highlights of new tax legislation and their effect on taxpayers.

"The American Recovery & Reinvestment Act of 2009 offers a wide-range of tax breaks for both individuals and businesses," said Ahlbeck, a Certified Public Accountant. During the show, Ahlbeck addressed a variety of topics including new and expanded tax credits and breaks such as the "making work pay" credit, the expanded first-time homebuyer credit, tax breaks for new car purchasers and energy tax incentives. He also discussed the waiver of required minimum distributions from retirement plans and IRAs in 2009.

"Taxpayers are increasingly overwhelmed by the volume of tax changes and their complexity. They really just want to know which tax changes will affect them and whether tax planning can help minimize their tax liability," commented Ahlbeck.

Hosted by Oakton Community College (OCC) faculty member Bob Burton, "Impact" focuses on issues and trends of concern to the local area. Sponsored by THE MIX and OCC, the show aired on Sunday, March 8, 2009 at 7:25 a.m. with a rebroadcast on April 12, 2009 at 7:25 a.m.. To hear the radio broadcast, click here.

Ahlbeck was also a guest on "Impact" in December 2008 when he discussed the tax implications of the Emergency Economic Stabilization Act of 2008. To hear that radio broadcast, click here.