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CJBS

August News Flash

Dear Clients & Friends, Millions of parents received their second Child Tax Credit (CTC) checks on Friday, August 13. However, we understand that many are still waiting for their first and second payments or wonder if they should opt out of the credit altogether. We also understand the frustration from many of you who haven’t […]
August 24, 2021
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CJBS

Key Takeaways from the Presidents’ Tax Proposals

Dear Clients & Friends,  The dust has finally settled on this year’s extended tax season, and as tax professionals, we continue to set our attention on helping you plan for the future. After what has been a challenging year for millions of Americans, the question remains as to what the government will do to help […]
June 3, 2021
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CJBS

Confirmation on PPP: Expenses Are Non-Deductible Even Before Forgiveness

In previous articles, we’ve emphasized the Internal Revenue Service’s (IRS) position when it comes to borrowers as they cannot “have their PPP cake and eat it too.” In practical terms, that means if you are expecting a loan to be forgiven, you cannot treat the expenses covered by that loan as tax deductible. This principle […]
November 25, 2020
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