Free Tools for You: Three Workbooks to Help You Stay Ahead
This summer, our team put together something we think will genuinely help our clients — three free, downloadable workbooks designed to take the guesswork out of financial planning. Whether you’re running a small business or just trying to get a handle on your own finances before year-end, these tools walk you through the process step […]
Why Your CPA Still Matters in the Age of AI
AI tools like ChatGPT and Microsoft Copilot are now common in accounting. They can crunch numbers, spot patterns, and even draft reports in seconds. That’s genuinely useful, but it raises a fair question: if a computer can do so much of the work, what’s left for your accountant to do? A recent Journal of Accountancy […]
We Built You a Free Tool: Introducing the Summer Cash Flow Workbook
Summer is one of the most financially unpredictable times of year for small business owners. Revenue gets inconsistent. Expenses don’t slow down. Estimated tax deadlines arrive whether you’re ready or not. And for many businesses — especially in construction, healthcare, food & beverage, and professional services — the gap between what looks good on paper […]
Fall Is the Perfect Time for Year-End Tax Planning
As the leaves turn and the year winds down, fall brings more than just cooler weather and holiday planning—it’s also the ideal time to think about year-end tax strategies. By acting now, individuals and business owners can take advantage of opportunities to reduce taxable income, maximize deductions, and avoid surprises when filing in April. Why […]
Roth IRAs: The Pros and Cons You Need to Know
When it comes to retirement planning, a Roth Individual Retirement Account (IRA) is one of the most powerful tools available. Unlike traditional IRAs, Roth IRAs are funded with after-tax dollars, which means your contributions aren’t tax-deductible up front—but the trade-off can be significant long-term advantages. Before opening one, it’s important to understand both the benefits […]
What the New Tax Bill Means for You: 8 Key Opportunities to Know for 2025
A new federal tax bill brings valuable opportunities for both individuals and businesses in 2025. Here’s a breakdown of the top provisions and how you can take advantage of them. 1. Deduct Your Tips — Up to $50,000 If you report tips on your taxes, you may now deduct them — up to $25,000 (single) […]
Key Tax Changes for 2025: What You Need to Know
The IRS has released the inflation-adjusted tax brackets, deductions, and contribution limits for 2025. These changes will impact tax planning for the upcoming year—but remember, they do not affect your 2024 tax return. Standard Deduction Increases for 2025 Taxpayers will see a bump in the standard deduction, reducing taxable income: Married Filing Jointly: $30,000 Single […]
What Does Your Accountant Do During Tax Season?
Tax season is a stressful time for both individuals and businesses, but the work behind the scenes is even more demanding. Your accountant is working long hours, often up to 12 hours a day, to ensure that your returns are filed correctly and on time. But what exactly is happening during these long hours? The […]
Reminder: Profits and Cash Flow Are Not the Same
Many profitable businesses experience cash flow shortages, especially during periods of rapid growth. Business owners may find themselves puzzled by owing taxes while struggling to cover everyday expenses. The confusion often stems from the fundamental differences between profits and cash flow. Understanding Operating Activities Profits are closely linked to taxable income and are reported at […]
Uncovering Hidden Gems: The Connecticut Angel Investor Tax Credit
In the bustling world of investment opportunities, there’s a gem hidden in plain sight: the Connecticut Angel Investor Tax Credit. This often-overlooked tax credit presents a compelling option for both budding entrepreneurs and seasoned investors alike, akin to the thrill of Shark Tank. If you’re a startup in need of seed capital or an individual […]
