Here Are Your Articles for Monday, April 08, 2019
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Saved Articles

  • Are You Taking Full Advantage of Your 401(k) Plan’s Employer Matching Contributions?

    Plan participants who defer at a high percentage could miss out in maximizing employer matching contributions.  Click through for further details.

    Saved on 03-27-2020 - Remove
  • Tax Credit Offsets Retirement Plan Costs

    Thinking of starting a pension plan for your small-business employees? The federal government may help with the costs for companies that meet certain criteria. Click through to learn how to claim a tax credit for the startup costs.

    Saved on 03-27-2020 - Remove
  • Social Security Administration Announces Changes for 2019

    As is usual this time of year, the SSA has published critical information on benefit changes and maximum taxable income. Click through to see the details, so you can consider how they will affect you.

    Saved on 03-27-2020 - Remove
  • Revenue Recognition: Understanding Accounting Standards Codification 606

    Revenue recognition can be an exceptionally complicated accounting topic, and many companies do not understand the difference between revenue and income. Click through for an introduction to this topic, including the important Accounting Standards Codification 606.

    Saved on 03-26-2020 - Remove
  • Can You Trust the Cloud With Your Taxes?

    When it comes to taxes and other sensitive financial information, email is NOT the way to go. Click through to see how a secure cloud platform is the way to go to receive and review tax and other financial documents.

    Saved on 03-26-2020 - Remove
  • CironeFriedberg/Prudential 3-on-3 Basketball Team Wins Championship

    Congratulations to the CironeFriedberg/Prudential basketball team!!  They were victorious in the 2019 championship game at the Scinto Labor Day picnic. 

    Saved on 03-26-2020 - Remove
  • Please Welcome

    Saved on 03-26-2020 - Remove
  • IRS Releases Draft 2019 Form 1065, Schedule K-1 and Related Instructions

    The IRS released Draft 2019 Form 1065, Schedule K-1 and related instructions, which include new information requests and reflect Tax Cuts and Jobs Act changes.  Click through for more information.

    Saved on 03-25-2020 - Remove
  • Back-To-School Supplies Donated to Local School District

    CironeFriedberg donated to United Way of Western Connecticut's Back-To-School Program.  Click through to see more information and photos. 

    Saved on 03-25-2020 - Remove
  • Guide to Preparing for an Audit of Your Nonprofit

    Whether your nonprofit is required to have an independent audit or you are conducting an audit for some other reason, preparing for an audit requires a lot of work. Click through to learn how to ensure that it goes as smoothly as possible.

    Saved on 03-25-2020 - Remove
  • Understanding Revenue Recognition

    If you enter into contracts with customers to transfer goods or services either domestically or internationally, you’ll be interested in clarifications from the Financial Accounting Standards Board. Click through for these essential financial accounting updates.

    Saved on 03-25-2020 - Remove
  • 3 Steps to Giving a Raise

    You want to give deserving employees raises, to help ensure they stay with the company and to keep morale high. But how do you approach the task? Click through for insights into the process of deciding how much of a raise to give.

    Saved on 03-23-2020 - Remove
  • Social Security: Note the Key Changes for 2020

    The Social Security Administration has released new numbers for those paying Social Security and those collecting it. Click through for the new maximum taxable earnings amount as well as COLA and other key adjustments.

    Saved on 03-23-2020 - Remove
  • Technology and Health Care: The Privacy Issue

    Privacy is an overarching concern as medical practices and facilities continue to adopt new technology designed to enhance efficiency and patient outcomes. Click through for steps your practice can take to help ensure cybersecurity.

    Saved on 03-23-2020 - Remove
  • Long-Term Care Insurance: Something You Need?

    Long-term care can range from assistance with simple activities to skilled care provided by nurses and therapists. Is it right for you? Click through for more details and to discover the variety of coverage options.

    Saved on 03-22-2020 - Remove
  • Please Welcome

    We are pleased to announce that three new members have joined our team: Tammy Maguire, CPA, Director of Financial Services; Nick Dapaz, CPA, Audit Manager; and Rebecca Fera, Shelton Receptionist. 

    Saved on 03-22-2020 - Remove
  • New Standard Mileage Rates For 2019

    The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

    Saved on 03-22-2020 - Remove
  • Key Guidance on Sec. 199A Deductions

    The Treasury Department and the IRS have issued final regulations and additional guidance on the qualified business income (QBI) deduction. Click through for additional insights into this popular, but complex, tax provision.

    Saved on 03-22-2020 - Remove
  • What to Know About Lease Accounting

    The Financial Accounting Standards Board has issued an Accounting Standards Update regarding leases. Click through to see how it intends to improve the understanding and comparability of lessees’ financial commitments.

    Saved on 03-22-2020 - Remove
  • Keeping Track of Project Expenses

    QuickBooks Online Plus has a feature you can turn on called Projects. Click through to learn how to organize your financials based on all the jobs or projects you’re managing as well as how to track invoices, expenses and transactions related to those jobs.

    Saved on 03-22-2020 - Remove
  • Trying to Figure Out the New Tax Law?

    Are you confused about the new tax law? You're not alone! It's about 70,000 words long, and experts are still uncertain about some provisions. But we can help you learn the basics. Click through for a quick summary.

    Saved on 03-22-2020 - Remove
  • What Changes With the New Taxpayer First Act?

    Congress passed, and the president signed, an expansion of taxpayer rights. What does this new piece of legislation mean for the long term? Click through to find out what changes to expect from the IRS in the coming months.

    Saved on 03-21-2020 - Remove
  • How Does Key Person Insurance Work?

    Are there employees who are crucial to your business? Would it damage you if they left? Click through to learn about key person insurance, so that your company survives losing an executive who makes your business work.

    Saved on 03-21-2020 - Remove
  • When and How Often to Review Trusts

    It's a common misconception that creating a trust is just a one-time event. In fact, there are many reasons you may want to change certain kinds of trusts. Click through for a discussion of how and when to review trusts.

    Saved on 03-21-2020 - Remove
  • Back Pay and Form W-2

    If you've paid an employee less than what he or she is due, it could come back to haunt you in the form of back wages. Click through to learn more about this type of pay, including its impact on Form W-2.

    Saved on 03-21-2020 - Remove
  • IRAs to Charity: A Useful Estate Planning Technique

    The basic goal of an IRA is to give you money to live on in your retirement years. But it can complicate your estate plan if you leave IRA funds for your family to inherit. Click through to learn about the advantages of leaving your IRA to charity instead.

    Saved on 03-21-2020 - Remove
  • Is This Your Situation: Upping Your Game as a QB Online User

    If you’ve been using QB Online for a long time, it’s good to step back and evaluate how you use your software. Do you follow any best practices? Click through to learn more about six QuickBooks Online tips that you can start using today.

    Saved on 03-21-2020 - Remove
  • Connecticut Makes Changes to the Pass-Through Entity Tax

    A new biennial budget bill was signed -- and a second bill is expected to be signed -- that will provide changes to Connecticut's Pass-Through Entity (PET) Tax. Click through to read about the PET Tax changes.

    Saved on 03-21-2020 - Remove
  • Retirement Plan Changes for 2020 – Are You Feeling Secure?

    President Trump signed the Setting Every Community Up for Retirement Enhancement (“SECURE Act”) on December 20, 2019. These changes were effective January 1, 2020. Click through for more details.

    Saved on 03-21-2020 - Remove
  • How to Protect Your Identity and Credit

    Thieves have more opportunities to steal your financial identity than ever before. However, there are things you can integrate into your daily routine to keep yourself secure. Click through to learn how to protect your identity and credit.

    Saved on 03-21-2020 - Remove
  • Connecticut Opportunity Zones – Adding Modern Function to Historic Sites

    Connecticut has several Opportunity Zones that can be a great way for investors to not only help improve their neighborhoods, but to also take advantage of some significant tax incentives.  Click through for more information.

    Saved on 03-20-2020 - Remove
  • What Is Zero Trust Security?

    Cybersecurity is a primary concern of all businesses and individuals. We all use passwords to secure access to proprietary data and enterprise systems — and we all know those programs and systems can be hacked. Click through to learn more about zero trust security.

    Saved on 03-20-2020 - Remove
  • IRS Clarifies Deductible Expenses

    The Internal Revenue Service has updated the rules to reflect changes resulting from the Tax Cuts and Jobs Act. Click through to zero in on changes involving deductible expenses, to make sure you're in compliance.

    Saved on 03-19-2020 - Remove
  • Governor Ned Lamont Discloses a Series of Legistlative Proposals

    Governor Ned Lamont unveiled his revised budget proposals for the 2020 legislative session and continues taking steps to strengthen Connecticut's economy.  Click through for more information regarding the Governor's proposals.

    Saved on 03-19-2020 - Remove
  • What is Your Risk of an Audit? The Results May Surprise You!

    With fewer tax examiners available to audit tax returns, the IRS has refocused their approach to audits.  Your chances for an audit may have increased.  Click through for more information.

    Saved on 03-19-2020 - Remove
  • March 31, 2020 Deadline to Correct 403(b) Plan Defects

    403(b) plans only have until March, 31 2020 to comply with IRS regulations regarding plan provisions either by amending and restating their existing plan or adopting a pre-approved plan.  Click through for more information regarding the deadline.

    Saved on 03-19-2020 - Remove
  • IRS Proposed Regulation for Income Tax Withholding and Revised Form W-4

    IRS issued new Form W-4 and proposed regulations regarding withholding rules.  Click through for more information about these changes.

    Saved on 03-19-2020 - Remove
  • 5 Tech Trends for the Next Decade

    The past decade saw major advances in the use of technology and the 2020s are likely to see even more. Click through to read about leading trends that are poised to have a significant impact on businesses.

    Saved on 03-19-2020 - Remove
  • AI Fears and How to Address Them

    Artificial intelligence is already in the workplace. It’s being applied in many areas, from recruiting to manufacturing processes. The pervasiveness of AI has created a certain amount of fear. Click through for aspects of AI that business leaders need to address.

    Saved on 03-19-2020 - Remove
  • Choosing a Business Structure: C Corps, LLCs, PCs and S Corps

    One of the first decisions business owners make is how their business should be structured. The many choices can be overwhelming and a clear choice may not be evident. Click through to better understand the best business structure for you.

    Saved on 03-19-2020 - Remove
  • Climate Change and Finance?

    BlackRock CEO, Larry Fink, published an open ‘Dear CEO’ letter recently, discussing how climate change is affecting investments.  Click through for more information regarding the effects.

    Saved on 03-19-2020 - Remove
  • 7 Soft Skills Every Team Needs

    Soft skills finally are getting the attention they deserve. As a business leader, it is important to recognize these important competencies as you evaluate new hires and future leaders. Click through to learn about the essential soft skills.

    Saved on 03-19-2020 - Remove
  • IRS Clarifies Deductible Expenses

    The Internal Revenue Service has updated the rules to reflect changes resulting from the Tax Cuts and Jobs Act. Click through to zero in on changes involving deductible expenses, to make sure you're in compliance.

    Saved on 03-19-2020 - Remove
  • Strategic Tax Planning and Itemizing

    The changes made by the Tax Cuts and Jobs Act of 2017 make itemizing deductions out of reach for most taxpayers. With good tax planning, however, taxpayers still may be able to itemize. Click through to learn about alternate-year itemizing and other strategies.

    Saved on 03-19-2020 - Remove
  • What Is Tax-Efficient Investing?

    Investing solely because of a focus on taxes can be counterproductive, but taxation still has to be an important part of making investment decisions. Click through to gauge the role of losses, timing and selection of investments.

    Saved on 03-19-2020 - Remove
  • How to Decode Box 1 of Form W-2

    Form W-2 has many boxes, but Box 1 typically gets the most attention because it reflects the employee's total annual taxable wages. It can be surprisingly complicated. Click through for a primer on this box to make sure you're doing it right.

    Saved on 03-19-2020 - Remove
  • Please Welcome

    We are pleased to announce two new members have joined the CironeFriedberg team: Jennifer Furino, staff accountant and Angelina Aulisio, Shelton office receptionist.

    Welcome Jennifer and Angelina!

    Saved on 03-18-2020 - Remove
  • With Little Fanfare, IRS Releases Radically New Form W-4

    Although the new Form W-4 differs greatly from the previous version, it is almost the same as the draft version released earlier in 2019. Click through for a quick rundown of how the form works and where you can go for more details.

    Saved on 03-18-2020 - Remove
  • Understanding Sales Tax in the Post-Wayfair World

    If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you. Click through to learn the basics of collecting and reporting sales tax today.

    Saved on 03-18-2020 - Remove
  • 12 Things to Do If You Suspect Internal Fraud

    The suspicion that someone you may have trusted for years is stealing from your company can hit you hard emotionally, but you still have to react rationally. Click through for tips on handling a possible case of internal fraud.

    Saved on 03-18-2020 - Remove
  • Tax Tips for Law Firms

    The changes made by the Tax Cut and Jobs Act of 2017 affected law firms just like many other businesses. Click through for some special tax tips and to better understand the rules that affect law firms.

    Saved on 03-18-2020 - Remove
  • IRS Publishes 2020 Inflation Adjustments

    The IRS released a number of inflation adjustments and more than 50 other tax provisions for the 2020 tax year.  Click through for a a summary of the adjustments and provisions.

    Saved on 03-18-2020 - Remove
  • Can You Take Advantage of the Research and Development Tax Credit?

    You don’t have to wear a while lab coat to claim the federal research and development tax credit if you meet the four criteria outlined in Internal Revenue Code Section 41 and its regulations. Click through to learn why failing to explore this credit may be leaving money on the table.

    Saved on 03-18-2020 - Remove
  • Rental Real Estate Safe Harbor Provided by Revenue Procedure 2019-38

    The IRS Finalizes Safe Harbor to Allow Rental Real Estate to Qualify as a Business for the Qualified Business Income (QBI) Deduction.  Click through for more information.

    Saved on 03-18-2020 - Remove
  • Nine Important Things to Know About Blockchain

    Blockchain is to bitcoin what the Internet is to e-mail. Even if you are not ready to use digital currency, it’s important to be familiar with it because it’s going to be around for the long term. Click through to get up to speed.

    Saved on 03-18-2020 - Remove
  • CironeFriedberg Attends Boys & Girls Club of Lower Naugatuck Valley Event

    CironeFriedberg attends Meet the Kids Night at Boys & Girls Club of the Lower Naugatuck Valley.  Click through for more details.

    Saved on 03-18-2020 - Remove
  • Focus on Forecasting: Keeping Your Business on Track

    Forecasting a year at a time without monitoring in the interim is not effective. Click through to learn how frequently checking your company’s key performance indicators will help your company operate more effectively and be more profitable.

    Saved on 03-18-2020 - Remove
  • The Latest Fraud Problem: Synthetic Identities

    The most common form of identity theft these days is synthetic identity theft. If that sounds ominous to you, you're right to be scared. Click through to find out about this new twist on fraud and how to spot it.

    Saved on 03-18-2020 - Remove
  • CironeFriedberg Celebrates Opening of Shelton Office

    CironeFriedberg proudly celebrated the opening of their Shelton location with a ribbon cutting ceremony and a charitable donation to the Boys & Girls Club of Lower Naugatuck Valley.

    Saved on 03-18-2020 - Remove
  • The IRS and Major Annual Adjustments

    The IRS makes annual adjustments to a variety of plan limits and other key numbers. Click through for a chart listing the most important numbers for 2018 and 2019, so you can see what's changed -- and what hasn't.

    Saved on 03-18-2020 - Remove
  • DOL Issues New Overtime Ruling, With Large Raise to Overtime Floor

    The DOL has published new rules that establish a higher salary level below which employers must pay overtime. Click through to find out how these rules affect your company and what kind of changes you may need to make to comply.

    Saved on 03-18-2020 - Remove
  • House Ways and Means Committee to Continue State and Local Tax (SALT) Cap Discussions

    Discussions of the the state and local tax deduction are in the early stages and changes could be coming.  Click through for more information.

    Saved on 03-18-2020 - Remove
  • Connecticut Pass-Through Entity (PTE) Legislative Update

    For tax years beginning on or after January 1, 2019, Connecticut laws for pass-through entites become effective.  Click through for more infomation regarding these changes.

    Saved on 03-18-2020 - Remove
  • What's New With the Kiddie Tax?

    So many tax provisions changed with the Tax Cuts and Jobs Act, passed at the end of 2017. The so-called kiddie tax changed as well. Click through for an examination of this complex provision and how it might affect you.

    Saved on 03-18-2020 - Remove
  • Avoid Surprises When Filing Form 1040 Next Year

    Early planning and using the new Tax Withholding Estimator could help taxpayers determine appropriate withholdings and avoid surprises.  Click through for more information.

     

     

    Saved on 03-18-2020 - Remove
  • Does Your Nonprofit Need an Independent Audit?

    The Internal Revenue Service (IRS) requires some nonprofits to be audited, but not all. The IRS isn’t the only entity that may require an audit and there are other good reasons to conduct one. Click through for an introduction to nonprofit audit rules.

    Saved on 03-18-2020 - Remove
  • A Disaster Recovery Plan for Your Business

    No one likes to think bad things will happen. But what would happen to your business if there was a fire in your office? Click through to learn why having a disaster recovery plan in place can give you peace of mind.

    Saved on 03-18-2020 - Remove
  • Connecticut Law Now Requires Sexual Harassment Training for All Employees

    On June 18, 2019, Connecticut enacted a new state law expanding its sexual harassment training requirements.  Click through for details on employers’ obligations for posting and training under the new law.

    Saved on 03-18-2020 - Remove
  • How to Face Your Life Insurance Choices

    There's no such thing as simple life insurance. To protect your loved ones, you have to sort through a bewildering array of choices. Click through for some insights into what's available, and what might be right for you.

    Saved on 03-18-2020 - Remove
  • Still Searching for Answers on Tax Extenders

    Senate Finance Committee Chairman Chuck Grassley remains commited to extend tax provisions as soon as possible.  Click through to read more about the tax extenders.

    Saved on 03-18-2020 - Remove
  • It's Never Too Early for Tax Planning

    Good tax planning is a year-round activity that requires knowing your options and keeping good records. Circumstances change. Even if you have used the standard deduction for the past several years, click through to learn why that may no longer be the right option for you.

    Saved on 03-18-2020 - Remove
  • Business Valuations: The IRS Angle

    Valuations can be essential to any business owner, but you have to take into account the government's interest in your company. Click through for some insights into how the IRS determines the value of your business.

    Saved on 03-18-2020 - Remove
  • Connecticut Creates the Family and Medical Leave Insurance Program

    Connecticut has created the Family and Medical Leave Insurance (FMLI) program to provide wage replacement benefits to certain employees taking leave under the state’s Family and Medical leave Act (FMLA). Click through for more information.

    Saved on 03-18-2020 - Remove
  • New Connecticut Tax Legislation

    Connecticut Governor Ned Lamont signed House Bill 7424 on June 26, 2019.  While the new budget bill does not increase income tax rates, it does make many changes to business and individual taxation, which result in both increases and decreases. Click through to read the details.

    Saved on 03-18-2020 - Remove
  • IRAs: Know the Basics

    Individual retirement accounts are among the most popular retirement savings vehicles, but many people don't know much about them. Click through for insights into the different kinds of IRAs and how they work.

    Saved on 03-18-2020 - Remove
  • What to Know About Pensions and Taxes

    When you start a pension, you can choose to have federal and state taxes withheld from your monthly checks. Click through to see that if you withhold enough taxes, you won't owe money when you file your tax return.

    Saved on 03-18-2020 - Remove
  • Required Minimum Distribution: What This Means for Your Retirement Plan

    The rules on required minimum distributions are complicated and the penalties for violating them can be substantial. Click through to learn what you need to do with your retirement plan.

    Saved on 03-18-2020 - Remove
  • Is Your Business Spread Over Multiple States?

    Expanding your business across multiple states can bring a lot of rewards, but you need to be aware of a variety of practical issues. Click through for an introduction to cross-border management issues.

    Saved on 03-18-2020 - Remove
  • Opportunity Zones: Doing Well By Doing Good

    An opportunity zone, located in an economically distressed community, spurs investments via preferred tax treatment. Click through for an introduction to the specific conditions for this useful but complicated provision.

    Saved on 03-18-2020 - Remove
  • Welcome to Our Newsletter

    We are pleased to share with you CironeFriedberg’s newly formatted newsletter, The Bottom Line. Our periodic newsletter carries timely articles of interest for our clients and friends of the firm. We hope you enjoy the new format and find the articles informative and useful.

    Saved on 03-18-2020 - Remove
  • Do You Have to File an Information Return?

    If you made or received a payment in a calendar year as a small business or self-employed individual, you most likely are required to file an information return to the IRS. Click through to learn what this means.

    Saved on 03-18-2020 - Remove
  • The Latest Rules on Charitable Donations

    With a much larger standard deduction in play, and lower marginal tax rates, the charitable giving world has changed. Has anything else changed? Click through for the latest IRS guidance on charitable giving.

    Saved on 03-18-2020 - Remove
  • CironeFriedberg Congratulates Leadership Danbury Class of 2019

    Congratulations to Danielle Arcangeli and the entire Leadership Class of 2019 for successfully completing the program sponsored by the Danbury Chamber of Commerce.

    Saved on 02-29-2020 - Remove
  • CironeFriedberg Announces 2020 Employee Promotions

    CironeFriedberg is pleased to announce well-deserved promotions of four of our employees, recognizing the significant contributions they provide to the firm, our clients, and our community. Click through for details on the employee promotions.

    Saved on 02-26-2020 - Remove
CironeFriedberg, LLP
CironeFriedberg, LLP
info@cironefriedberg.com
24 Stony Hill Rd, Bethel, CT 06801
(203) 798-2721
6 Research Dr, Suite 450, Shelton, CT 06484
(203) 366-5876
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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