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2025 Mileage Rate Increase
If you use your vehicle for business purposes, there’s an important update for 2025 you’ll want to know about. The IRS has announced an increase in the standard mileage rate […]
Addressing End-of-Year Cash Flow Challenges
As the year ends, small and mid-size business (SMB) owners and managers face the crucial task of managing cash flow to ensure smooth operations into the new year. From meeting […]
Preparing for Potential 2025 Tax Changes
While all politicians make campaign proposals that often don’t come to fruition, it is important for small and mid-sized business owners to pay attention and understand what could be coming […]
Cybersecurity Tips for the Holiday Season
The holiday season is a time for joy, connection, and celebration. Unfortunately, it’s also a prime time for scammers and cybercriminals looking to take advantage of businesses and individuals alike. […]
Breaking News: Court Pauses BOI Filing Deadline
A recent court ruling just said “never mind” to the Business Ownership Information (BOI) filing requirements created in the Corporate Transparency Act (CTA), giving business owners extra time to prepare. […]
Key Tax Changes for 2025
The IRS recently announced its annual inflation adjustments for tax year 2025, impacting a range of deductions, credits, and income thresholds. These changes, aimed at keeping up with inflation, can […]
Smaller Social Security Cost-of-Living Adjustment in 2025
The Social Security Administration (SSA) recently announced a 2.5% cost-of-living adjustment (COLA) for 2025, which will take effect starting in January. For seniors and other beneficiaries, this adjustment means a […]
IRS Updates Retirement Contribution Limits for 2025
The IRS recently released Notice 2024-80 outlining adjustments to retirement plan contribution limits for 2025. As we move into the new tax year, small and mid-sized business owners should take […]
Are You Prepared for the New Digital Asset Reporting Requirements?
With digital assets like cryptocurrency becoming increasingly mainstream, the IRS is ramping up efforts to ensure that businesses, including small businesses in Connecticut, properly report these transactions. Beginning in 2025, […]
Beware of Tax Scams
As tax season approaches, it’s crucial to be aware of scams that can threaten your financial well-being. Scammers are becoming increasingly sophisticated, using social media and other channels to try […]
What Small Business Owners Need to Know About Per Diem Rates
Effectively managing business travel expenses is not just about maximizing tax deductions—it’s also key to staying compliant with IRS regulations. Whether you’re covering the cost of employee trips or your […]
New Bill Aims to Strengthen Taxpayer Privacy Protections
In a move to bolster the privacy of taxpayers’ sensitive information, the House of Representatives recently passed the Taxpayer Data Protection Act. This legislation, spearheaded by Rep. Jason Smith of […]