Key Takeaways Paper refund checks are history. As of September 30, 2025, the IRS began phasing out paper refund checks in favor of electronic payments, making refunds faster, safer, and more reliable. Taxpayers should act now. Double-check your direct deposit details through your IRS Online Account or tax return to avoid refund delays and help family […]
The IRS Has Gone Paperless Read More »
Key Takeaways Roth-only catch-ups begin in 2026. Under the SECURE 2.0 Act, employees earning more than $145,000 will be required to make all catch-up contributions to a Roth account, meaning taxes are paid now instead of later. Higher contribution limits for ages 60-63. Starting in 2025, eligible savers can contribute up to $11,250, giving business owners
The Roth Catch-Up Rule: What Business Owners Should Know Read More »
Key Takeaways The IRS is cracking down on bad tax advice. Connecticut business owners should be cautious of social media “hacks” and AI-generated tips which can lead to rejected claims, audits, and IRS penalties of up to $5,000 per false filing. AI tools can’t replace professional judgment. Chatbots don’t understand your business structure, cash flow,
Don’t Fall for Fake Tax Advice Read More »
As summer winds down, these final months give business owners a chance to do more than close the books; they provide an opportunity to reduce taxes, strengthen cash flow, and prepare for what’s ahead. Here are five key tax areas where Connecticut businesses can benefit from a proactive year-end review. Estimated Tax Payments If your
Five Year-End Tax Strategies Every Connecticut Business Should Consider Read More »
For small and mid-sized businesses, every decision about payroll and staffing carries extra weight. One area that often gets overlooked, but can cause major headaches down the road, is worker classification. Whether someone should be treated as an employee or an independent contractor isn’t just a matter of preference. It’s a legal distinction with real tax and compliance implications.
The Hidden Costs of Misclassifying Workers in Connecticut Read More »
Attracting and keeping great employees is tougher than ever. Competitive pay is important, but it’s no longer enough on its own. Today’s workers, especially younger generations, want benefits that support their health, growth, and overall quality of life. For business owners, that means reviewing benefits regularly through two lenses: what employees value and how those benefits
Smart Benefits: Balancing What Employees Want with What the IRS Allows Read More »
The S corporation has long been a favorite structure for small and mid-sized business owners, and for good reason. It offers liability protection, avoids double taxation, and can reduce self-employment taxes by splitting income between salary and distributions. But with the passage of the One Big Beautiful Bill Act (OBBBA) and other tax shifts on the horizon,
Should You Still Be an S Corp? Read More »
A recent executive order has put a spotlight on potential changes to retirement plan rules, specifically the possibility of allowing private equity investments in 401(k) plans. While this may sound like an exciting opportunity for business owners and employees seeking greater returns, it also brings a host of new risks and complications that deserve careful
New Retirement Plan Proposal Raises Questions About Risk, Fees, and Transparency Read More »
The budget reconciliation bill passed the House on July 3 by two votes, and it packs a wide range of tax changes. While many of the headlines focus on large-scale social and economic impact, we aren’t going to weigh in on that but instead focus on how it can affect small and mid-sized business owners
One Bill, Many Impacts Read More »
You’re generating solid revenue. Business is steady. But when it comes time to cover payroll, pay bills, or make a key investment, you’re short on cash. Sound familiar? This disconnect is more common than you might think, especially for small and mid-sized businesses. You can be profitable on paper and still face a cash crunch.
Connecticut’s recently passed $55.8 billion biennial budget brings a mix of financial shifts, modest tax changes, and regulatory reforms that will impact businesses across the state. While it avoids broad-based tax increases, the plan leans on extended corporate surcharges, delayed pension contributions, and borrowing to balance the books. Here’s what small and mid-sized business owners
How Connecticut’s 2026–2027 Budget Impacts Small and Mid-Sized Businesses Read More »
Here’s What to Do Next and How to Prevent It in the Future Discovering – or even suspecting – internal fraud can be unsettling for any business owner. While small and mid-sized businesses often operate on trust, it’s critical to have a plan in place when something doesn’t feel right. Here’s what you should do
Suspect Fraud in Your Business? Read More »