There are a few things in life that cause a universal, often paralyzing, sense of dread. A family call in the middle of the night. Knowing you must have a difficult conversation with someone. An IRS letter saying you are being audited. While we can’t offer much relief for the first two, we can help […]
What You Need to Know about an IRS Audit Read More »
Fall is definitely here and now is a great time to start thinking about your year-end business tax planning. There are a variety of things you may want to consider, or at least look into, before the end of the year, so you can make adjustments now to reduce the taxes you have to pay
It’s Time for Some Year-End Tax Planning Read More »
Most business owners know that offering employees benefits can be a good way to differentiate your company and keep your team intact. But many are surprised to learn just how important these benefits are! According to a survey from the Society for Human Resource Management (SHRM), a whopping 92% of employees said that benefits are
It’s All About the Benefits! Read More »
Starting a new business, whether your first or one of many, is always fraught with challenges. One of those is choosing the correct business entity, which is now more important than ever due to the Tax Cuts & Jobs Act (TCJA). Each structure has its advantages and disadvantages, and it is important to choose the
Choosing the Right Entity for Your New Business Read More »
When Governor Lamont signed the budget bill earlier this summer, quite a few changes were made to our sales and use taxes. Here is a breakdown of what changed. Exemptions Eliminated: On January 1, 2020, some items currently exempted from sales and use taxes will be taxed, including safety apparel, specified parking spaces, dry cleaning
CT Tax Law Changes Signed into Law with New Budget Bill Read More »
Bailey Scarano is very proud to announce that the recipient of this year’s Alan P. Bailey and Michael J. Schaefer Memorial Accounting Scholarship is Branford High School graduating senior, Hannah Antonino. Hannah is a stellar student but also dedicated to improving her community through her participation in the Excel and Exchange clubs at her school.
Bailey Scarano Awards Local Student with Scholarship Read More »
Life is full of ups and downs, many of which can greatly impact your taxes for the year in which the milestone takes place. Here are just a few events that have tax implications for which you should be prepared. Starting a New Job When you start any new job, you should make any necessary
Major Life Changes Ahead? Know the Tax Implications Read More »
While you may be surprised by this, every state had its own set of unique laws regarding what is taxed and what is not. Of course, some things are pretty consistent, but some are downright weird. Here are a few of the more interesting items that are taxes across the country. Missouri: Bachelor Tax Unmarried
Weird Tax Laws Across the US Read More »
Now that tax season is over and your returns have been filed or extended, it is a good idea to take a look at how much you are withholding and adjust it as needed to accommodate the Tax Cuts and Jobs Act (TCJA). The best course is to adjust your withholding so next year you
ALERT: It is Time to Adjust Your Withholding! Read More »
Scammers are getting better than ever at finding ways to deceive people and get access to your personal financial data. This is especially prevalent at this time of year when everyone is filing their taxes and sending sensitive information back and forth. So with that in mind, we wanted to provide some tips for staying
Modern technology has made our lives easier. So many things are available at the touch of a screen now. We can chat with colleagues, purchase shoes and catch up on the daily news regardless of our location or the time of day. We are so much more productive now, right? According to a number of
Are We Too Much “In Touch”? Read More »
Did your children have a summer or after school job in 2018? If your minor children received W-2s from a job, or if they have unearned income like interest and dividends, they may be required to file an income tax return. Generally, if their W-2 income is less than the $12,000 filing requirement, they don’t
Kids These Days…Do They Need to File Taxes? Read More »