Author Archive

Avatar
34 articles
admin
Capital Gains, Losses and the Sale of a Home

Capital Gains, Losses and the Sale of a Home

You may be trying to wrap your head around how to figure out basis of property that you receive as a gift. There are many things to consider including the adjusted cost basis to the donor just before they...

Business Meals: Expenses and Deductions

Business Meals: Expenses and Deductions

Did you know that the Tax Cuts and Jobs Act made changes to deductions for business expensed meals? In fact, it eliminated the deduction for any expenses related to activities that formally could be...

Trusts: What You Need to Know

Trusts: What You Need to Know

If you are either considering creating a trust to help manage your assets or if you don't even know how a trust could help, this article can provides an overview into the world of trusts. A trust is...

Tips to Improve Your Credit Score

Tips to Improve Your Credit Score

If you have a less-than-ideal credit score, you won't be able to repair it overnight, however there are steps you can take to raise it over time. Watch your credit card balances How much revolving...

Senior Accountant Joins Forces with CCSU

Kevin Harris, CPA, joins Central Connecituct State University’s Institute of Technology and Business Development Advisory Committee Glastonbury, Conn., (February 14, 2018) – MahoneySabol, a regional...

Good Statements Get Good Loans

Good Statements Get Good Loans

You're looking for a loan. Your bank wants information to gauge if you have a healthy company. Therefore, the more a lender knows about your business and can see into its financial workings, the better...

How to Handle Bad Debt and Taxes

When can you use bad debt to reduce business income? Even when you take the customer to court and you still don't get your money, there's a way to make lemonade from this lemon of a customer. If your...

Child and Dependent Care Credit

You may be wondering whether the money you spent on a day care center, a babysitter, summer camp or other provider to care for your qualifying child under age 13 or a disabled dependent of any age can earn...

The 2018 Tax Wrap-Up

The tax reform passed at the end of 2017 runs to about 70,000 words. It's a large and complicated piece of legislation, and we can look forward to additional guidance and clarifications. For now, here are...