Accavallo & Company, LLC

Unlocking Tax Benefits: How Nonprofits Can Benefit from the Inflation Reduction Act

When the Inflation Reduction Act (IRA) was enacted in late 2022, many tax-exempt organizations may have overlooked its potential benefits assuming it was irrelevant to them. Contrary to this belief, the IRA offers provisions that can be advantageous for tax-exempt entities. Let’s delve into the details to explore how your nonprofit can leverage these tax […]

Maximizing Your QBI Deduction: Seize the Opportunity Before It Expires

At Accavallo & Company, we understand the importance of leveraging every available tax-saving opportunity. The Qualified Business Income (QBI) deduction presents a significant chance for eligible businesses to reduce their tax liability. However, this deduction is scheduled to sunset after 2025. Hence, if you qualify, it’s crucial to capitalize on this benefit while it’s still […]

Should Your Company Embrace the New Emergency Savings Accounts for Employees?

In the wake of the SECURE 2.0 law, a novel benefit option has emerged for employees grappling with unforeseen emergencies. Dubbed as Pension-Linked Emergency Savings Accounts (PLESAs), this provision, effective for plan years that begun January 1, 2024, offers a lifeline to employees in times of need. The IRS has recently issued guidelines regarding these […]

Strategic Inventory Management: A Comparative Analysis of JIT and Accurate Response Systems

For businesses with substantial inventory holdings, the associated costs can be significant. From warehousing expenses to salaries, insurance, taxes, transportation, depreciation, and shrinkage, the financial burden can weigh heavily on the balance sheet. Moreover, tying up working capital in inventory can detract from potential strategic investments. Minimizing these expenses is crucial for enhancing profitability and […]

Optimizing Reimbursement Procedures: A Guide for Nonprofit Organizations

Prepare Now to Compensate Staff, Board Members, and Volunteers Regardless of how infrequently your not-for-profit organization needs to compensate staff, board members, or volunteers, there will likely come a time when reimbursement requests arise. Will your organization be equipped to handle these requests efficiently and in accordance with IRS regulations? A well-defined reimbursement policy is […]

The Truth about Trusts

In the realm of estate planning, navigating the intricacies of trusts and their implications on probate and tax matters is essential for individuals and families seeking to safeguard their assets and legacy. As trusted advisors, CPAs play a pivotal role in guiding clients through the complexities of estate management, offering expertise in optimizing tax strategies, […]

Six Steps to Navigating Connecticut’s Pass-Through Entity Tax

A recent CT legislative development is the introduction of the optional Connecticut (CT) Pass-Through Entity (PE) tax, effective for tax years beginning in 2024. Overview of the Optional CT Pass-Through Entity Tax Commencing on January 1, 2024, the CT Pass-Through Entity tax becomes optional for all pass-through entities, including partnerships, S corporations, and applicable limited […]

Comparing Cash and Accrual Accounting Methods: A Comprehensive Analysis for Business Taxation

In the realm of business taxation, selecting the most suitable accounting method stands as a pivotal decision. Essentially, businesses navigate between two primary methodologies: cash and accrual accounting. This choice often hinges on optimizing tax liabilities, thereby prompting businesses to deliberate on the most advantageous route. Eligibility for Cash Method Utilization Businesses classified as “small” […]

2023 Tax Filing: Key Changes from the Latest Tax Bill Update

In a significant move aimed at providing much-needed support and relief, the House recently passed the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024). This comprehensive tax bill, totaling approximately $78 billion, encompasses a range of provisions designed to address various aspects of the tax landscape, from enhancing support for families […]

Solid Financial Reporting: A Guide to Debt and Equity Financing

In the dynamic landscape of business operations, securing financing for growth and sustainability is paramount. Whether seeking debt or equity financing, a critical component of the decision-making process for lenders and investors is the quality of a company’s financial reporting. At Accavallo & Company, we recognize the pivotal role that solid financial reporting plays in […]

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Sherri Fisher is a Tax Manager at Accavallo & Company, LLC.  Sherri has longstanding expertise in Trust and Estate Taxation, Eldercare, and Estate planning. Sherri appreciates the relationships she has built with estate planning attorneys and advisors, to provide a team approach to assisting her clients. Sherri also has seasoned experience in business and individual taxation and is partial to assisting start-ups in developing overall accounting and operating plans.

Prior to joining Accavallo & Company, LLC, Sherri was a manager in a large firm, servicing high net worth trust clients, business, and personal clients. She was also a Partner in a large bookkeeping firm, which specialized in cloud accounting systems for regional and national companies. Sherri led a team in assisting clients to organize their accounting systems.  She is a graduate of Florida Atlantic University with a B.S. degree in Accounting.    

Sherri’s experience includes working with companies and organizations in a variety of industries including:

  • Investment Trusts

  • DAPT and Family Investment Partnerships

  • Estate and Probate Administration

  • E-Commerce

  • Manufacturing

  • Construction

  • Real Estate Investment

  • Marketing and Service-based industries

In addition to her professional accomplishments, Sherri is an Intuit Advanced Pro Advisor, Intuit Future Firm Advisory Board member, member of the Valley WIN Network, and proudly served as past Connecticut Public School liaison for the Yale Tommy Fund for Childhood Cancer. Sherri enjoys time with her family, Cleveland sports, thrifting and gardening.