Gregory S. Dowell, CPA
Managing Partner

gdowell@dowellcpa.com
847-934-0300

Gregory S. Dowell, CPA

Education

Greg earned his undergraduate degree in accounting from Illinois Wesleyan University and earned his MBA in finance from Northern Illinois University.

Experience

Greg spent the first eleven years of his career with the Chicago law firm of Wilson & McIlvaine (which later merged with Quarles & Brady), providing tax and financial consulting services to high net worth clients (individuals, trusts, and estates) and owners of closely held businesses. Greg partnered with Ray Bass and Harold Solomon in 1992 to form the CPA firm that came to be known as Bass, Solomon & Dowell, LLP. Bass, Solomon & Dowell, LLP celebrated its 25th anniversary in 2017. Preparing for future growth, the firm changed its name to Dowell Group, LLP on July 31, 2017.  Greg has been the managing partner of the firm for several years.

The services he provides to the business community include:

  • Consulting with management and boards
  • Preparing financial statements
  • Consulting on acquisitions, sales, and mergers
  • Analyzing business values
  • Applying metrics and analytics to achieve higher profitability
  • Analyzing and procuring debt financing
  • Providing oversight procedures for business owners
  • Reviewing and supporting internal accounting systems
  • Determining income tax strategies for businesses and owners

While he works with a number of established businesses in various industries, he also concentrates much of his energy on working with start-ups and entrepreneurs.

Going all the way back to his days at the law firm of Wilson & McIlvaine and continuing through the present, Greg also has extensive experience in the areas of estate and trust taxation.  Working hand-in-hand with the attorneys and the client, his role is to apply the various tax laws and prepare the necessary tax returns.  He also assists clients and their attorneys with estate planning.

The services he provides to individuals include income tax planning and preparation, financial planning, employee benefit counseling, educational planning, and divorce consulting. His individual tax clients include executives, business owners, partners, investors, and retirees.

In the nonprofit sector, Greg also provides accounting, tax, audit, and consulting services.  Under his guidance and initiative, the firm also started consulting and performing audits for the governmental sector in 2007.

Activities and Associations

Greg’s professional memberships include the Illinois CPA Society and the American Institute of CPAs. He is also a past member of the Federal Income Tax Committee of the Illinois CPA Society and he has authored numerous articles on income taxes for professional journals, as well as writing the Dowell Group newsletters and client communications. Like other members in the firm, Greg continues to enhance his knowledge each year by taking continuing education courses in the areas of accounting, auditing, finance, and taxation. In addition, Greg is a licensed instructor of continuing education courses for CPAs.

The Illinois CPA Society, which is the statewide professional accounting society for CPAs, presents a Lifetime Achievement Award and a Public Service Award on an annual basis.  Based on his contributions to the public over a number of years, the Illinois CPA Society awarded Greg the Public Service Award for 2006.

Members of Dowell Group are encouraged to give back to their community. Greg has served his community in the following capacities:

  • Trustee for Harper College, 2011 to present
  • Board Vice-chair for Harper College 2012 to 2015
  • Board Chair for Harper College 2015 to present
  • Director, JourneyCare (formerly Hospice & Palliative Care of Northeastern Illinois), 2013 to present
  • Trustee for the Village of Deer Park, Illinois, 1997 to 2007
  • Finance Chair, Village of Deer Park, 1997 to 2007
  • Member of the Accounting Advisory Board of Illinois Wesleyan University
  • Past director of a local branch of an international bank
  • Past member of Harper College Small Business Advisory Committee
  • Member of Barrington Area Chamber of Commerce
  • Past director of the Barrington Area Chamber of Commerce

Greg is married with two adult children.  He enjoys sports and outdoor activities and adventures, including running, biking, hiking, backpacking and kayaking.  An avid reader, he is dedicated to lifelong learning.  Greg’s e-mail address is gdowell@dowellcpa.com.