November News To Know

Dear Clients and Friends,

As the festive season draws near, we want to extend our heartfelt thanks for your continued trust and partnership. With the recent wrap-up of the extension deadlines for individuals and corporations, we’re excited to move forward with our November initiatives and share some valuable insights with you.

Effective tax planning is a crucial element in enhancing and securing your financial health. As we approach the end of the year, it’s an ideal opportunity to engage in strategic tax planning, ensuring compliance and optimizing your financial opportunities. Whether you’re gearing up for retirement, adjusting to changes in your income, or facing other significant life events, year-end tax planning can provide numerous benefits. Acting now to evaluate your tax situation allows you to make informed decisions and implement strategies that support your long-term financial objectives. Don’t delay—contact your CJBS advisor today to begin your tax planning.

As we anticipate 2025, it’s crucial to comprehend how inflation rates will affect your tax and financial planning. Each year, the IRS updates tax rates and contribution limits for retirement savings and other accounts to reflect inflation, mitigating the impact of rising prices.

These inflation adjustment tables are vital tools for our clients. They offer clear, precise information to help you understand how inflation will influence your tax planning and financial strategies for the upcoming year. By staying informed about these IRS-announced rates, we help ensure that both businesses and individuals are equipped to adjust their budgeting, pricing, and investment strategies according to the latest regulatory standards. Check them out here.

CJBS is dedicated to supporting nonprofit organizations with specialized services in accounting, tax, and audit. We understand the unique challenges faced by nonprofits and provide tailored solutions to ensure they can effectively manage their finances and focus on their mission. Our expertise enables these organizations to serve the community with greater impact.

As November marks the beginning of the holiday season and a time of giving, we are proud to partner with three charities this season: Adopt-a-Family Wheeling, NAMI Cook County North Suburban, and Journeys The Road Home, helping them in their efforts to spread joy and support to those in need. CJBS also collects food pantry donations year round for the Northfield Food Pantry. During November we do our best to come together as team and make a large donation before the Thanksgiving holiday.

If you have any questions or need assistance as we approach the end of the year, please reach out to your dedicated CJBS advisor.

Wishing you a safe, healthy, and joyful holiday season,

The CJBS Team