CJBS

Divorce
Economy
Forensic accounting
Health insurance
Personal tax returns
Tax deductions
Taxes
Expert Witness
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
Firm News
CJBS
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
Accounting
Audit
Bankruptcy
IRS
IRS audits
Personal tax returns
Taxes
CJBS
by Larry Goldsmith, CPA, JD, CFF, MAFF Last week, I reviewed a new client’s IRS transcript. The client apparently filed his individual income tax returns late and wanted to file bankruptcy to discharge his 1040 tax obligations. I subsequently learned that the IRS filed substitute individual income tax returns on the client’s behalf and issued […]
February 12, 2016
3 MIN READ
Accounting
IRS
IRS audits
linkedin
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
Accounting
IRS
linkedin
Tax deductions
Tax legislation
Taxes
Vehicle depreciation
CJBS
by Michael W. Blitstein, CPA The IRS has released the inflation-adjusted limitations on depreciation deductions for business use passenger automobiles, light trucks, and vans first placed in service during calendar year 2015. The IRS also modified the 2014 limitations to reflect passage of the Tax Increase Prevention Act of 2014 late last year. At the […]
February 18, 2015
2 MIN READ
Accounting
Affordable Care Act
Economy
Financial Planning
IRS
linkedin
Retirement Planning
Tax deductions
Tax legislation
Taxes
Tax reform
CJBS
by Michael W. Blitstein, CPA 2014 was a notable year for tax developments on a number of fronts. Selecting the top tax developments for 2014 requires judgment calls based upon uniqueness, taxpayers affected, and forward looking impact on 2015 and beyond. With respect to David Letterman, the following list of 2014 tax developments reflects this […]
February 10, 2015
4 MIN READ