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CJBS
As tax reform begins in America, many businesses might want to consider filing as a C corporation. In an article from Inc., author Zoe Henry writes, “Most U.S. small businesses currently don’t qualify for the reduced corporate tax rate. The majority of small enterprises are structured as pass-through entities such as limited liability companies or […]
January 5, 2018
1 MIN READ
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CJBS
The Tax Cuts and Jobs Act, which was passed in both houses of Congress earlier this week, was signed into law by President Trump on December 22, 2017. The majority of the provisions contained in the sweeping reform legislation go into effect as of January 1, 2018. Read on for a few recommendations on actions […]
December 21, 2017
4 MIN READ
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CJBS
With the widening talent gap in technology, it will be increasingly difficult for businesses to find an employment standard. In an article from Disruption Hub, author Laura Cox writes, “As enterprises inevitably enter the digital age, employment requirements are changing. Unfortunately, the workforce often seems to be playing a game of catch up. The tech […]
December 21, 2017
1 MIN READ
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CJBS
The Senate and Congressional income tax bills propose to eliminate itemized medical deductions.  For the elderly, who depend on pensions and social security income, and who require nursing homes and private caregivers, this deduction is essential. Nursing home expenses and caregiver costs can easily exceed $100,000 annually. If an elderly individual with an annual income […]
November 16, 2017
1 MIN READ
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Larry Goldsmith, J.D., C.P.A., M.A.F.F., will speak on the subject of Financial Discovery at the Highland Park-Highwood Legal Aid Clinic on Wednesday, January 18th, 2017 at 7:00 pm. Financial discovery, including careful study of tax returns, is an important part of the process for uncovering useful information in legal proceedings involving divorce or other litigation matters. Larry […]
December 21, 2016
1 MIN READ
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CJBS
by Michael W. Blitstein, CPA Just released IRS audit coverage statistics show a slight increase in audits of partnerships, but decreases in audits of large corporations and S corporations in fiscal year (FY) 2014. For all types of businesses, the FY 2014 audit coverage rate was 0.57%, representing a decline from 0.71% in FY 2012 […]
March 12, 2015
2 MIN READ