CJG_Admin, Author at CJG Partners LLP

How the One Big Beautiful Bill Act Affects Your Personal Taxes

by CJG_AdminIndividual Tax, Legislation July 23, 2025September 25, 2025No Comments

While much attention has focused on the One Big Beautiful Bill Act (OBBBA) business tax provisions, the legislation also delivers significant individual tax changes that directly impact business owners and their families. From enhanced estate planning opportunities to new temporary deductions, these personal tax modifications create both immediate benefits and long-term planning considerations that should …

OBBBA Tax Changes: What Your Business Needs to Know

by CJG_AdminBusiness Tax July 15, 2025September 25, 2025No Comments

President Trump’s signature on July 4th delivered comprehensive tax reforms that will reshape the business tax landscape. The One Big Beautiful Bill Act (OBBBA) preserves numerous expiring business tax benefits while introducing new cuts aimed at promoting economic growth. For small to mid-market businesses, these changes present significant planning opportunities worth exploring. Business Tax Benefits …

Estimated tax deadline 2025 CJG Partners

An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing

by CJG_AdminIndividual Tax May 7, 2025September 25, 2025No Comments

Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s the deadline for making the first quarterly estimated tax payment for 2025 if you’re required to make one. Basic details You may have to make estimated …

5 QuickBooks reports to review each month

by CJG_AdminIndividual Tax May 7, 2025September 25, 2025No Comments

Understanding your business’s financial health is essential for long-term success. QuickBooks® offers a powerful reporting tool suite that can provide critical insights to support decision-making and help you comply with accounting and tax rules. Accrual-basis QuickBooks users should get in the habit of reviewing the following five reports monthly to keep their finances in check …

5 Common Forms of Payroll Fraud Faced By Employers

by CJG_AdminUncategorized February 1, 2025September 24, 2025No Comments

For employers looking to safeguard their organizations from fraud, payroll is among the most obvious targets they must protect. That’s where the money is, after all. Payroll can stand out as a bright red bullseye for criminals if not carefully guarded. How bright? In its Occupational Fraud 2024: A Report to the Nations, the Association …

The Current Standard for Approving 401(k) Hardship Distributions

by CJG_AdminUncategorized January 1, 2025August 15, 2025Comments are Disabled

Employers that offer a 401(k) plan should generally encourage participants to invest as much as they can and not touch the money until retirement. However, there may be instances when employees feel they need to access their plan funds before reaching retirement age. In some of those cases, participants may qualify for a 401(k) hardship …

Divorcing business owners can’t afford to skimp on valuation expertise

by CJG_AdminIndividual Tax November 19, 2024September 25, 2025No Comments

Dividing marital assets can be a long, complicated process, especially if a divorce case involves a private business interest. Failure to hire a business valuation professional — whether to try to save money or time — can prove disastrous in court. Complex valuation matters Business valuators can provide answers to five critical financial questions in …

The amount you and your employees can save for retirement is going up slightly in 2025

by CJG_AdminUncategorized November 1, 2024August 15, 2025Comments are Disabled

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025. With inflation easing, the amounts aren’t increasing as much as in recent …

Important 2025 amounts for employer sponsored retirement-plans

by CJG_AdminUncategorized November 1, 2024August 15, 2025Comments are Disabled

Does your organization sponsor a qualified retirement plan for employees? If so, the new calendar year will likely bring inflation-based adjustments to more than one limit or threshold associated with your plan. Here are some important 2025 amounts to be aware of: Contribution limits to 401(k)s and other defined contribution plans. The annual limit on …

Bartering is a taxable transaction even if no cash is exchanged

by CJG_AdminUncategorized October 1, 2024August 15, 2025Comments are Disabled

If your small business is seeking to conserve cash or reduce expenses, engaging in barter or trade for goods and services can be advantageous. While bartering dates back to ancient times, modern technology, particularly the internet, has facilitated easier exchanges between businesses. Tax Considerations Bartering transactions involve taxable income based on the fair market value …