A CPA's Two Cents

Give Your Taxes Attention 365 Days A Year

Give Your Taxes Attention 365 Days A Year

Numerous tax experts agree that effectively addressing your tax liability requires planning and attention throughout the entire year. Business owners who reap the most benefits consider their...

2020 IRS Inflation Adjustments

2020 IRS Inflation Adjustments

The IRS has recently published their inflation adjustments for various tax items for the 2020 tax year. Below is an overview of the adjustments that apply to a wide range of taxpayers. 1. In...

Charitable Gifts: Getting the Paperwork Right

Charitable Gifts: Getting the Paperwork Right

If you offer gifts or money to qualified organizations eligible to receive tax-deductible charitable contributions, you must have a bank record or written communication from the charity for any...

CT Tax Law Changes Impacting CT Breweries

CT Tax Law Changes Impacting CT Breweries

As of June 26, 2019, Connecticut Governor Ned Lamont signed a $43.4 billion budget for the 2020 and 2021 fiscal years. Included in this budget are specific items that will directly impact the...

Do You Need Interruption Insurance?

Do You Need Interruption Insurance?

Depending on business size, interruption insurance policy costs could range from $750 to $10,000 or more. If you have passed on insurance due to cost, consider this: Today there are a greater...

401(k) and IRA Contribution Limit Increases in 2019

This year, The IRS has announced cost of living adjustments that will affect dollar limitations for pension plans and other retirement-related items for the 2019 tax year. This article breaks...

Know The Advantages of S Corporations

Know The Advantages of S Corporations

S corporations are entities that can pass corporate income, losses, deductions and credits through to shareholders for federal tax purposes. This article will outline the advantages and...

Capital Gains and Losses: How Do They Work?

Capital Gains and Losses: How Do They Work?

A capital gain is a profit, made when you as an individual or business sell a capital asset such as investments or real estate for a higher cost than its purchase price. A capital loss is...

Feeling Overwhelmed with Payroll Regulations

Feeling Overwhelmed with Payroll Regulations

Your company is growing, and now you have an office full of employees and the questions that come along with that responsibility, such as figuring out each person's tax liability based on their...

Better Tax Outcomes

You hate writing checks to the Internal Revenue Service on April 15. But what can you do now to trim this year’s tax bill? In this article, we will provide strategies to limit your tax...

Understanding New Business Expensing Rules

Understanding New Business Expensing Rules

Rules regarding expensing and deduction are complex and managers should keep an eye on the latest rules to ensure their businesses are in compliance and are taking full advantage of the...

Establishing Payable-on-Death Accounts

Establishing Payable-on-Death Accounts

Payable-on-death (POD) accounts are a type of bank account that, at the owner's death, allow the remaining money in the account to pass directly to the beneficiaries named by the account owner,...

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