Your Friends that Count

According to the Internal Revenue Service (IRS), about 75% of taxpayers take the standard deduction but could be missing out on valuable tax deductions if they can itemize. Now more than ever – with significant code changes resulting from the Tax Cuts and Jobs Act – taxpayers should strongly consider their tax planning before the year-end.

The good news is that the IRS recently issued a new publication that will help taxpayers better understand the reform to enable them to begin setting up their best possible tax scenario. Publication 5307 can be accessed with other beneficial information from IRS.gov/getready.

Publication 5307 provides information about increases to the standard deduction, suspending personal exemptions, increasing and adding credits and limiting or discontinuing certain deductions, and more.

Now is a good time to consult a tax professional to best determine how the law affects your unique situation. John Kasperek Co., Inc. is a leading expert accounting firm in the Chicago Southland region and can be reached at (708) 862-2262 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

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Pictured: Wally Hummel with son Donny at Bullseye Lounge - 427 Pulaski Rd, Calumet City, Illinois.

For Bullseye Lounge owner Don “Wally” Hummel, 58, running a tavern is a “family tradition.” His father, uncle and grandfather all owned various establishments throughout the Chicago Southland and Northwest Indiana region dating back over 60 years. It’s no wonder his son Donny Hummel and brother are working during our visit on this December night in Calumet City, Illinois.

“Running a tavern is in our blood and I can’t imagine doing anything else,” said Hummel, who has owned several different locations over the years. “I have proudly owned Bullseye Lounge for 13 years and still going strong.”

Hummel, a lifelong Southland resident, attended Richards High School, Moraine Valley Community College and currently resides in an apartment above the Bullseye Lounge, quaintly situated in the middle of a suburban neighborhood on 427 Pulaski Road. The traditional pub decorum, warm atmosphere and smiling faces ring true of Hummel’s reference to the “Cheers” vibe that resonates with patrons. Bullseye is known for a friendly crowd of “regulars,” strong Blackhawks following, pool tables and gaming machines. This year marked one of the great highlights of Hummel’s tavern ownership when his Bullseye-sponsored softball team won the 16” Softball National Championship (Class A), made up mostly of Calumet City and Hegewisch residents.

John Kasperek Co., Inc., a Certified Public Accounting firm in Calumet City, has served as bookkeeper and tax accountant for 12 of Bullseye’s 13 years and has proudly provided support to its activities and ownership. Hummel added, “I had previous issues with my accountants, and I can honestly say the best choice I made in by business life was going to John and his team.”

Bullseye Lounge is open Sunday through Thursday from 11 a.m. – 12 p.m., and a recent referendum extended their Friday and Saturday hours until 2 p.m. For more information about John Kasperek Co., Inc. visit www.kasperekcpa.com or call (708) 862-2262.