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AI vs. Your Accountant: Why Business Owners Need Real Expertise
Artificial Intelligence (AI) is changing how we work, search, and manage everyday tasks. From chatbots answering customer service questions to tools that summarize articles or suggest tax strategies, AI is […]
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Debunking Common Tax Myths for Small Business Owners
When it comes to taxes, misinformation spreads quickly, especially this time of year. Whether it’s advice from a well-meaning friend, something you saw online, or just assumptions based on outdated […]
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How IRS Staffing Decreases Could Impact You & Your Business
On February 20, 2025, the IRS fired approximately 6700 people during its busiest time of the year, which will likely lead to some challenges for taxpayers. So, how will this […]
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BOI Filing Deadline Reinstated
The Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA) is officially back in effect, with a new compliance deadline of March 21, 2025. This follows a recent court decision reversing a […]
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IRS Scams Are on the Rise in 2025
In 2025, IRS-related scams have become increasingly sophisticated, posing significant threats to taxpayers. Fraudsters continually adapt their tactics – and take advantage of AI tools – making it crucial to […]
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IRS Announces 2025 Depreciation Limits for Business Vehicles
The IRS has updated its depreciation limits for business vehicles in 2025, and for the first time in three years, those limits have actually gone down. These changes, which adjust for inflation, […]
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The Importance of Choosing a Reputable Tax Professional
Tax season is stressful enough without worrying about whether your tax preparer is trustworthy. Yet, choosing the wrong preparer can lead to serious consequences, including audits, penalties, and even identity […]
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What Is IRS Form 1099-K and How Does It Impact Me?
The IRS has made significant changes to the reporting requirements for third-party payment networks, and small business owners need to be aware of how these adjustments may impact their tax […]
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The IRS Is Issuing 2021 Recovery Rebate Credit Refunds to Eligible Taxpayers
If you were eligible for the 2021 Recovery Rebate Credit but didn’t claim it on your tax return, you might be in for a pleasant surprise. The IRS recently announced […]
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IRS Proposes New Rules for Catch-Up Contributions
The IRS has issued proposed regulations concerning catch-up contributions for retirement plans, as outlined in the SECURE 2.0 Act of 2022. These regulations, detailed in the Federal Register, aim to […]
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What Connecticut’s State Tax Changes Mean for Your 2024 Return
As we approach the 2024 tax season, it’s important for Connecticut residents and businesses to be aware of several key tax changes that could impact their upcoming state tax filings. […]
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What the Social Security Fairness Act Means for Public Sector Employees & Retirees
The Social Security Fairness Act, a hot topic in financial and retirement planning, was signed into law by President Biden on Sunday, January 5, 2025. Designed to repeal two controversial provisions—the […]
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