Latest News and Information

December 12, 2017

Property Tax and State Income Tax Payments

If you have not paid Alternative Minimum Tax (“AMT”) in the past, you may want to consider making payments for your property taxes and state income tax before year end. This will enable to you to claim these payments as deductions on your 2017 personal income tax return.

November 30, 2017

Illinois Invest in Kids Act

Recently, Illinois enacted the “Invest in Kids Act,” which provides for a tax credit equal to 75% of qualifying contributions made to a Scholarship Granting Organization (“SGO”), up to a maximum $1 million per taxpayer. The credit is not available to taxpayers who claim a federal income tax

November 29, 2017

Make the holidays bright for you and your loved ones with annual exclusion gifts

As the holiday season quickly approaches, gift giving will be top of mind. While gifts of electronics, toys and clothes are nice, making tax-free gifts of cash using your annual exclusion

November 28, 2017

You may need to add RMDs to your year-end to-do list

As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to

October 6, 2017

1099 Preparation

1099-MISC, Miscellaneous Income, must be mailed by January 31, 2018 to each person a company has paid during the course of business in 2017.  A person subject to 1099 reporting is defined as an individual who is a U.S. citizen or U.S. resident alien, a partnership or association

January 11, 2017

Due Date Changes

With a new year comes tax law changes.  One of the biggest changes this year are the due dates of important tax forms.  The following forms have new dates:

[list type=”disc” position=”left”]

  • W-2s are due to the employee and government agency on January 31, whether filing paper
December 22, 2016

Cost Segregation Case Study

Cost Segregation Case Study

The professionals at CJG Partners LLP provide the expertise to implementing tax deferral strategies related to commercial property purchases. Our knowledge of the tax code coupled with the compliance requirements of cost segregation studies offers an affordable option to using traditional consultants.



June 21, 2016

New DOL Overtime Rule

On May 18th, 2016 the DOL released a final rule that radically increases the thresholds for overtime rules, expanding the number of employees eligible for overtime pay. Under the FLSA, employees who work more than 40 hours in a week are entitled to overtime pay, unless they meet

December 11, 2015

IRS Capitalization Regulation Update – 2015

We are writing to inform you of a recently enacted update to the tangible personal property regulations.  As you are aware, these regulations went into effect for tax years beginning on or after January 1, 2014, and provided for a de minimis safe harbor election that

December 11, 2015

Affordable Care Act: Employer Shared Responsibility

We wanted to re-share an article from the November 2015 Tax & Business Alert that was posted on our website and mailed out to our clients last month. This article concerns the Employer Shared Responsibilities (ESR) provisions found in the Affordable Care Act.  Business owners need to

December 10, 2015

401(k) Plan Audit Update

The U.S. Department of Labor (DOL) oversees the annual audits of more than 81,000 employee benefit plans. Recently, the DOL sent out a letter (via email) to tens of thousands of benefit plan administrators regarding audit quality. Perhaps you received one yourself.

The letter went out because the

October 28, 2014

IRS Capitalization Regulation Update

We are writing to let you know about an important development that will affect every business, including yours. The IRS has issued long-awaited regulations on the tax treatment of amounts paid to acquire, produce, or improve tangible property. The regulations explain when those payments can be deducted, which

October 27, 2014

CJG Partners LLP Announces New Partners

New Partners Announcement Bigger

For more information on our new partners, please visit their personnel bios.

March 4, 2014

Preventative Maintenance: Retirement Plans

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for pension plans in private industries. The Internal Revenue Service requires all qualified plans to be restated into a new plan document every 5 to 6 years. The Internal Revenue Service

January 24, 2014

1099s Are Due to Individuals by January 31, 2014

1099-MISC, Miscellaneous Income, must be mailed by January 31, 2014 to each person a company has paid during the course of business in 2013.  A person subject to 1099 reporting is defined as an individual who is a U.S. citizen or U.S. resident alien, a partnership or association

January 15, 2014

Use CJG Partners’ Portal to Send Your Tax Documents!

As many of you are aware, we launched this website in 2013.  One of the new features of this website is our new client portal, which allows us to securely exchange documents with each other, and send you copies of your tax returns electronically.  With tax season already

January 10, 2014

Mileage Allowance Decreasing January 1, 2014

IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by 0.5¢ to 56¢ per mile for business travel after 2013. This rate can also be used by employers to reimburse employees tax-free under an accountable plan