Lawrence R. Krupp
Lawrence R. Krupp CPA, JD
Director
847.580.4100 x.111
lkrupp@koscpa.com
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Larry commits his professional practice to serving clients in associations and not-for-profit organizations. He provides consulting services with respect to securing and maintaining tax-exempt status and minimizing tax on unrelated business income.
Recent accomplishments include the merger of two business associations; securing exempt status for a private school, a foreign-supported religious school, and a performing arts organization for the hearing impaired; and the merger of two community service charitable organizations.
Larry is actively involved in sales tax audits and consulting on retirement/employee benefit plan issues. He successfully negotiated settlements with the Internal Revenue Service and Department of Labor regarding defective retirement plans.
A frequent speaker, Larry presents accounting and tax topics for professional, charitable, and business organizations.
Prior to joining KOS, Larry was a partner with a national accounting firm.
Practice Areas
Tax, Health Care, Professional Service Firms, Not-for-Profit
Education
J.D., Loyola University of Chicago
B.S., in Accountancy, University of Illinois-Urbana-Champaign
Professional Activities
U.S. Tax Court
American Institute of CPAs
American Bar Association
Illinois CPA Society
Illinois State Bar Association: Employee Benefits section, newsletter co-editor; Federal Tax section, council member
Community Involvement
University of Illinois Foundation Library Friends, board of directors
Decalogue Society of Lawyers Foundation, trustee and treasurer
Chicago Volunteer Legal Services
If you hadn’t become a CPA, what job would you have chosen and why?
I would be a high school history teacher and the student council advisor. I was involved with school government from junior high through law school, and have always been interested in the US government and its creation 230 years ago. Besides, my chances of getting elected to Congress are slim!
What is your career highlight?
Joining KOS.
What wisdom would you offer to aspiring accountants?
April 15th comes and goes every year—don’t worry about it.
How do you want to be remembered?
For the person I was.
Who is your hero and why?
John Adams—he had a vision and never gave up the fight.
What was your first job?
Lawn mowing and snow shoveling.
What lesson from mom or dad do you still live by today?
Always tell the truth because then you don’t have to remember what you said.
What music/bands do you like to listen to?
The Four Seasons, Chicago, and Ronnie Rice.
What do you most look forward to?
April 16th!
When you are not at work, what do you enjoy doing?
Spending time with my wife and son.
What book are you currently reading?
Brushing Back Jim Crow. It’s about the integration of minor league baseball in the American South.
What was it about the accounting industry that drew your interest?
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