Questions abound on how the new tax laws will impact each of us personally and as business owners, and we will be weeding through the information for you in the coming months. One of the bills, called the American Innovation Act of 2018 (HR6756), passed the House on September 27 and goes to the Senate […]
What is the American Innovation Act? Read More »
The standard in determining whether a state tax law applies to an activity depends on whether that activity has “substantial nexus” with the taxing state. Previously, physical presence has been used as the standard in determining economic nexus with a state. However, on June 21, 2018, in the case of South Dakota v. Wayfair, the
Connecticut Adopts New Sales Tax Nexus Rules Read More »
Bailey Scarano partner, Steve Moalli, was honored at this year’s Cystic Fibrosis Foundation’s New Haven’s Finest event. Steve was selected as an honoree for being a distinguished young professional that demonstrates strong leadership skills, is active in his community and has excelled in his chosen profession of accounting. In accepting this recognition, he he made a personal goal to raise $1,500
Steve Moalli Selected as a New Haven’s Finest Honoree by the Cystic Fibrosis Foundation Read More »
Many people spend upwards of 20+ years in retirement, but most don’t have nearly enough money saved to get them through a time that should be filled with enjoyment, not worrying about how to make it through each month. But how much do you need? Standard advice is as much money as you can manage
The How and When of Retirement Savings Read More »
Britney Bunbanlu (shown left)—a 2018 Branford High School graduate—is this year’s recipient of the Alan P. Bailey and Michael J. Schaefer Memorial Accounting Scholarship. The scholarship—which was established in 2016, provides $500 of support to a Branford High School graduating senior seeking a Bachelor of Science degree in Accounting or Business Finance and has been accepted
It can be difficult to decipher legitimate communications from scams these days, especially when it comes to your taxes and finances. Unfortunately, criminals impersonating the IRS—whether by phone, email or even in person—is quite common, and costs innocent taxpayers time, money and security. However, there are some things to keep in mind to protect you
Protect Yourself and Your Business from IRS Scams Read More »
On May 31, 2018, Governor Dannel Malloy signed Public Act 18-49, which is a bill that responded to the Federal Tax Reform Legislation passed in December 2017. The Federal Tax Reform limited the deduction to $10,000 of state and local income and property taxes and this is the States response to circumvent this limitation. The Public
Connecticut Pass-Through Entity Tax Read More »
Earlier this year, Colleen Visnic, a 2017 graduate of Branford High School, was awarded the Alan P. Bailey and Michael J. Schaefer Memorial Accounting Scholarship. Colleen is now a freshman at the University of Notre Dame, and is enrolled in the Mendoza School of Business. While at Branford High School, Colleen was awarded the 2016
On June 8, 2017, Bailey Scarano partners Michael Bailey, David Bailey and Andrew Errato once again had the pleasure of participating in the Steven J. Suzio Memorial Golf Tournament. Now observing its 31st year, the event was held at Tunxis Plantation Country Club in Farmington, CT, with dinner following at the Aqua Turf Club. This is
Bailey Scarano Participates in Steven J. Suzio Memorial Event Read More »
Did you know the IRS has an internal Taxpayer Advocate’s office, whose mission is to review processes and recommend ways to improve tax laws and systems? It’s good to know there are some serious internal reviews happening, and we hope they’ll lead to improvements. In a recently released report, the advocates identified areas for improvement
Internal Report of the IRS Is In – How Did They Fare? Read More »
As 2016 came to an end, our team at Bailey Scarano celebrated another successful year with a festive holiday dinner at Goodfellas Restaurant, with family and friends joining the festivities. The evening was marked by two special occasions. First, we honored Betty Russello, an invaluable member of our team who retired after 24 years with
Bailey Scarano Celebrates 2016 Achievements Read More »
We are pleased to announce the appointment of Steve Moalli as Partner in Bailey Scarano. Steve joined our firm in 2007 and held the position of Manager and then Director of Auditing & Accounting. He leads our Credit Union Services Division and has specialized expertise in the manufacturing industry. Having earned a Bachelor of Science
Steve Moalli Named Partner at Bailey Scarano Read More »