Accounting Services

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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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CJBS

Maximizing the Impact of Your Generosity

Dear Clients and Friends, This holiday season, you may feel inspired to give differently. With public health crises throughout the United States on the rise, non -profit organizations are at the forefront in providing relief and assistance. In an effort to encourage charitable giving in 2020 to such organizations, Congress has included two provisions in […]
November 19, 2020
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CJBS

Tax Planning For Post-Election Without A Crystal Ball

Dear Clients and Friends,  2020 has already been an exceptional year—one that has demonstrated the importance of planning for the unexpected. The big unknown ahead of us now is the results of the presidential election on November 3rd. Will Republicans win a second term, or will Democrats take the White House? Which leads to the question: How will this affect […]
October 21, 2020
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CJBS

What You Need to Know About Unemployment

Information for Our Unemployed Clients and Employers The Covid-19 pandemic and resulting stay-at-home orders have led to the highest unemployment rate in the US since the Great Depression. Since March, millions of Americans whose careers have been disrupted by the pandemic have been newly claiming unemployment benefits. Additionally, the CARES Act directed states to extend […]
August 18, 2020
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