CJG Partners LLP

10/16/2026

If you've been told it's time to move your business from a compilation to a review, a few things will change:

• Your CPA will analyze trends and relationships in your numbers and ask questions about anything unexpected
• Your statements will include full footnote disclosures, which compilations can leave out
• You'll sign a letter confirming the information you provided is complete and accurate
• The result is limited assurance, which gives lenders more confidence in your numbers

A review takes more time and costs more than a compilation, but it's considerably less involved than an audit. If you're considering the change, we're happy to help you figure out what makes sense. Reach out anytime at 847-517-8222.

10/15/2026

Many students receive at least some financial aid, and your child’s chances to qualify for financial aid may be better than you think. If your child receives aid, it is worth understanding what that means at tax time. Learn more in today's blog:

Wondering if college financial aid counts as taxable income? Here's what families need to know before tax time.

10/13/2026

Happy birthday to Cathy Wiesner! Cathy has been part of the CJG Partners team since 1997 and brings more than four decades of accounting experience to her work. She helps clients get the most out of QuickBooks, from setting up and streamlining their systems to training their teams to use the software well, and she steps in as an interim controller when businesses are going through key transitions. She also brings deep expertise in payroll and sales tax return preparation. Clients count on her attention to detail and her genuine care for getting things right. Thank you for everything you do, Cathy. We hope you have a wonderful day!

10/12/2026

If you filed an extension back in the spring, Thursday, October 15 is the final deadline for several returns:

• Individual income tax returns (Form 1040)
• Calendar-year C corporation returns (Form 1120)
• Form 5500 for calendar-year benefit plans that filed an extension

If you're self-employed and extended your return, this is also the last day to make a SEP IRA contribution for 2025. Keep in mind the extension gave you more time to file, not more time to pay, so interest has been adding up on any unpaid balance since April.

Not sure where your return stands? Give us a call at 847-517-8222 and we'll help you wrap it up.

10/09/2026

Don't skip or rush your month-end close. You'll end up looking at reports that are weeks old or not quite right. A solid close includes:

Reconciling every bank, credit card, and loan account.

Reviewing what customers owe you and what you owe vendors.

Recording accruals, depreciation, and other adjustments.

Comparing results to last month and to your budget to catch anything unusual.

Delivering reports on the same schedule every month.

If your close feels more like a scramble than a routine, our bookkeeping team can help. Reach us at 847-517-8222.

10/07/2026

Year-end is a great time to think about equipment purchases, and two tax rules shape that decision more than any others: bonus depreciation and Section 179. Understanding how they work and how they differ helps you plan ahead instead of scrambling in December. Read more in today's blog: https://cjgpartners.com/bonus-depreciation-section-179/

Learn how bonus depreciation and Section 179 affect year-end equipment purchase decisions.

10/05/2026

5 things to do now to prep for a year-end audit or review.

1. Schedule your year-end physical inventory count and let your audit team know the date

2. Keep invoices and approvals for major equipment purchases and sales organized as they happen

3. Pull your loan agreements and check where you stand on any required ratios before the year closes

4. Gather new leases, contracts, and financing agreements signed this year

5. Name one person on your team as the main contact for audit requests

None of this is complicated, but it's much easier to do in real time than to reconstruct in February. If you'd like help getting ready for year-end, we're happy to talk. Call us at 847-517-8222 to start the conversation.

10/02/2026

Moving your bookkeeping to our team happens in three steps.

Step one: We get access to your accounts and QuickBooks, review your current file, and flag anything that needs cleanup.

Step two: We align your chart of accounts with how your business actually runs and get every account reconciled.

Step three: You start receiving reliable monthly reports on a predictable schedule, with a point person you can call.

All of our work is done here in the US by a team that gets to know your business. If you've been thinking about taking bookkeeping off your plate, we'd be glad to walk you through what getting started would look like. Give us a call at 847-517-8222.

09/28/2026

With Q3 behind us, now is a good time to take stock before Q4 planning ramps up. A few things worth reviewing:

- How your actual results compare to the budget you set at the start of the year
- Whether your Q3 estimated tax payment reflected how the year has actually gone
- Any bigger purchases or investments you're considering before year-end
- Whether your books are current enough to support real decision-making in Q4

Q4 tends to move fast, between budgeting, year-end tax planning, and closing out the year (not to mention the holidays!) Starting from an accurate picture now makes that stretch a lot smoother.

Want help getting a clear picture before Q4 planning kicks off? Reach out to us at 847-517-8222.

09/25/2026

If your loan agreement includes a covenant requiring audited financial statements, it's worth understanding exactly what that means before your next reporting deadline creeps up.

A covenant like this typically specifies the level of assurance required (usually an audit, sometimes a review), how often it needs to be delivered, and how many days after your fiscal year-end it's due.

Missing the delivery deadline can technically put you in default on your loan, even if your financials themselves are fine, so the timeline matters as much as the content.

Some covenants also specify particular ratios or metrics your audited financials need to support, which is worth knowing well before fieldwork starts, not after.

If your business has grown or changed since the covenant was originally negotiated, it may be worth revisiting whether the requirement still fits your situation.

Understanding your covenant requirements ahead of time keeps your relationship with your lender on solid footing.

Not sure exactly what your loan covenant requires or when it's due? Reach out and we'll help you get ahead of it.