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CJBS

Succession Planning as a Business Owner: Three Things to Consider for Smooth Transitions 

Running a business comes with its own inherent list of challenges and rewards. On a daily basis, you are often faced with decision-making opportunities that can affect the future of the company, including current tax liability and financial health. However, there’s one decision that impacts the future in more far-reaching ways that is often overlooked […]
September 1, 2023
4 MIN READ
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Optimize Your Manufacturing Company’s Financial Situation by Using the General Business Credit 

If you’re a manufacturer, optimizing your business tax credit is key to maintaining good financial health. In general, tax credits are more valuable than tax deductions. Why? Because a credit reduces the company’s overall tax liability on a dollar-for-dollar basis, whereas a tax deduction only reduces the business’ taxable income. Appropriately using both, of course, […]
September 1, 2023
2 MIN READ
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How to Utilize Clean Energy Tax Credits for Your Manufacturing Company

2022 gave us the Inflation Reduction Act (IRA) which provides valuable tax credits for companies that support clean energy manufacturing. Though the funding is limited, any eligible manufacturers can apply for this credit if they purchase property to re-equip, expand, or establish facilities in relation to clean energy. Most notably, the Act Of course, there […]
June 7, 2023
2 MIN READ
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Cannabis Fraud Prevention: Internal Controls Businesses Should Never Operate Without 

The cannabis industry is especially susceptible to fraud, not only because of the stigma the industry still faces, but also because state-legal businesses are still so new and are growing quickly.   Yet when fraud hits your business, it can be devastating to your finances as well as your reputation.  Fortunately, there are steps you can […]
May 31, 2023
1 MIN READ
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Integrating Cultures and Bridging Differences for Successful M&A

M&A success goes beyond numbers. Organizations often consider successful M&A as solving a giant puzzle of financial statements, hoping to find the perfect profitability balance for both parties. While this is important, it is essential to look beyond the initial business stakes of numbers and profitability. A recent Deloitte study states the root cause of […]
May 15, 2023
4 MIN READ
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Individual Extension Payments for Illinois

Dear Clients and Friends,   We hope you are enjoying the beginning of spring. As we get closer to our individual tax deadline (4/18/23), we wanted to send a reminder about Illinois Extensions Payments. Illinois does not allow third party tax software to process extension payments electronically.  If you have a balance due with your extension we […]
April 6, 2023
2 MIN READ
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