Hegre McMahon and Schimmel

What Hegre McMahon and Schimmel does

Hegre McMahon and Schimmel (HMS) is a privately held, for-profit accounting firm headquartered in Oak Brook, Illinois, in the United States. The firm was founded in 2011 and operates with a small team of between 1 and 10 employees. Its service portfolio spans four core practice areas: tax management, bookkeeping, financial forecasts, and payroll services — a standard suite offered by small U.S. accounting practices serving small businesses, individuals, and possibly closely held entities requiring recurring compliance and advisory work.

The firm is led by Peter Schimmel, who serves as Managing Partner, indicating a partnership-style governance structure typical of professional services firms. Its web presence is centered on the domain hmscpatax.com, and the firm's branding ("HMS CPA Tax") suggests a focus on CPA-led tax and accounting services rather than a technology-enabled or scaled advisory platform. The publicly observable footprint is minimal: the firm's own website returned only a loading/verification page during data collection, and no third-party profile, customer logos, headcount breakdown, technology stack, pricing, or product information was captured. There is no evidence of proprietary software, API offerings, mobile applications, integrations, certifications beyond standard CPA licensure, or any AI/ML capabilities.

The business model follows a traditional professional services pattern: billable hours or fixed fees for compliance (tax filings, payroll), recurring monthly bookkeeping engagements, and project-based financial forecasting. There is no indication of subscription/SaaS pricing, productized advisory offerings, channel partnerships, or a multi-office footprint. Customer segments are not disclosed, but the firm's size, geography, and service mix are consistent with serving local small businesses, owner-operators, and individual taxpayers in the Chicago western suburbs. The overall data set is thin, and any conclusions beyond the basic service description should be treated as low-confidence.

Name

Hegre McMahon and Schimmel

Website

https://hmscpatax.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Hegre McMahon and Schimmel is a small U.S. accounting firm based in Oak Brook, Illinois, founded in 2011, providing tax management, bookkeeping, financial forecasts, and payroll services to local clients. The firm is led by Managing Partner Peter Schimmel.

Ownership category

akta.pro rank

Product category

Accounting & Tax Services

NAICS

Offices of Certified Public Accountants (541211), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Finance Services (6199)

akta.pro primary industry

Tax Operations Support (Indirect Tax, Withholding, Compliance Admin) (BPAAAGAI)

akta.pro secondary industry

Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF)

Keywords

• Accounting services
• Tax management
• Bookkeeping services
• Financial forecasting
• Payroll services

Headquarters

HQ city

Oak Brook

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Core offering

Hegre, McMahon & Schimmel is a small accounting firm that delivers tax management, bookkeeping, financial forecasting, and payroll services to its clients. The firm combines traditional CPA services with ongoing financial advisory support for small organizations.

Differentiator

Problem solved

Functional benefit

Products and services

• Tax Management Preparation and management of tax filings and tax-related compliance for clients.
• Bookkeeping Ongoing bookkeeping services to record and reconcile client financial transactions.
• Financial Forecasts Forward-looking financial projections and forecasting support for client decision-making.
• Payroll Services Administration of payroll processing for client organizations.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves2 records

Expansion highlights3 records

Emerging players

• Bench: A SaaS-enabled bookkeeping service for small businesses. Directly comparable on the bookkeeping and financial-reporting leg of the bundle, with a tech-driven delivery model that pressures traditional firms like HMS.
• Pilot: An online bookkeeping, tax, and CFO services provider for SMBs and startups. Comparable on outsourced bookkeeping plus tax advisory, and representative of the digital-native competition HMS faces.
• 1-800Accountant: A national virtual accounting and tax services firm targeting small businesses. Directly comparable because it sells the same outsourced tax, bookkeeping, and advisory bundle to SMB clients, but at greater scale and via a digital-first delivery model.

Regional players

• Anders CPAs + Advisors: A Midwest-based CPA and advisory firm. Comparable as a multi-service accounting practice serving SMBs in the same regional corridor, though with a stronger St. Louis orientation than HMS's Chicago-suburban base.

Broad incumbents

• Jackson Hewitt Tax Service: A national retail tax preparation chain. Comparable on the tax-preparation leg of HMS's offering, representing a low-cost scaled alternative for individual and small-business tax clients.
• H&R Block: A national retail tax preparation brand with adjacent bookkeeping and small-business services. Comparable on the tax-prep core of HMS's offering, with significantly broader distribution and brand recognition.
• BDO USA: A Top-10 U.S. accounting and advisory firm with a Chicago-area presence. Comparable on the multi-service CPA model serving SMB and mid-market clients in the same geography.
• Intuit QuickBooks: The dominant SMB accounting software platform with a growing live-bookkeeper and tax marketplace. Comparable because QuickBooks increasingly absorbs the bookkeeping and basic tax work HMS sells, often at lower price points.

Direct peers

• CliftonLarsonAllen (CLA): A large U.S. accounting firm with deep Midwest presence offering tax, accounting, and advisory services. Comparable on the SMB-focused multi-service CPA model, with strong overlap in target client profile.
• Wipfli: A Top-20 U.S. accounting and advisory firm serving mid-market and SMB clients across the Midwest. Comparable as a multi-service CPA firm with tax, bookkeeping, and advisory offerings similar to HMS, but at significantly larger scale.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hegre McMahon and Schimmel