JS Accounting Solutions Inc

Read our latest tax tip article on Backdoor Roth IRAs.

Tax Tip #2: The "Backdoor" to Tax-Free Wealth High earners are told they can't have a Roth IRA. They’re usually told wrong

Read our latest article on Substack and follow us for similar articles weekly.

Tax Tip #1: The "Employer Match" Trap The 'Employer Match Trap': How high earners employees are unknowingly overpaying the IRS by playing it too safe with their retirement contributions.

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JS Accounting Solutions Inc | Substack I'm the owner of a Chicago based boutique CPA firm that specializes in tax preparation and small-business accounting. Follow us for personal and business tax tips.

The Tax court denied a tax payer clothing donation deduction. Here’s an article that explains why.

Tax Planner Pro Blog: Court Denies Clothing Donations to Goodwill and the Salvation Army His landscaping and janitorial clients gave Mr. Bass men’s, women’s, and children’s clothing. He donated the better clothing to Goodwill and the Salvation Army, claiming clothing tax deductions of $13,852 and $11,594 for the two years before the court.

https://www.cbsnews.com/news/tax-refund-shock-filing-2022-taxes/

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Americans could be in for a tax refund shock next year Many tax benefits instituted during the pandemic have lapsed, which means some people could see smaller refunds.

The will begin accepting individual income returns beginning on Feb. 12th, 2021.

Tax filing season to start Feb. 12, IRS announces The IRS announced that it will start accepting 2020 tax returns on Feb. 12, a later date than usual. The delay stems from programming changes needed to account for year-end tax legislation.

Big banks took 'free money’ in 2008. They’re turning their backs now on small businesses, SBA official says. In a recent webinar the SBA Nevada district director Joseph Amato responded to growing frustration over large banks' reluctance to quickly offer small business loans under a federally-subsidized loan program.

Attention Chicagoland Small Businesses Owners:
Chase Bank won't be ready to accept Paycheck Protection Program (PPP) applications tomorrow April 3rd as was originally announced.

This is Chase Bank's message as of 4/2/2020 regarding applying for the new Paycheck Protection Program (PPP) that is meant to help small businesses keep their employees on the payroll.