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Category: Accounting Services

Many businesses in the professional service sector are working to minimize their tax liabilities in the final few weeks of 2021. Here are nine techniques to consider to further those saving efforts: Bonus planning: Give owner-employees a year-end bonus that includes additional withholdings to Read More

Rising prices of just about everything from milk and gas to professional services and clothes impact more than just individual consumers. They’re having negative effects on businesses as well.  Companies are being forced to make some tough decisions regarding product pricing, advertising a Read More

The Connecticut Department of Revenue Services has announced individuals and businesses throughout the state can pay back taxes at a reduced rate with no penalties through January 31, 2022, as part of its tax amnesty program. The program, launched November 1, provides a 75% reduction in inter Read More

Many businesses and organizations have either not applied for, think they don’t qualify for, or have never heard of the Employee Retention Credit (ERC). The ERC is a COVID-19 related relief program designed to encourage employers to keep employees on payroll throughout and after the pandemi Read More

By: Christopher Gagliardi Two of the most significant changes to U.S. Generally Accepted Accounting Principles (GAAP) have recently unfolded, including Accounting Standards Codification (ASC) 606 – Revenue Recognition, which many businesses are still adjusting to, and ASC 842 – Leases. Al Read More

In a press conference on Monday, President Obama called the reports about the IRS “outrageous” and intolerable while saying he would reserve harsher judgment for when the full report is formally released. This response comes after the news broke last Friday that the IRS had targeted group Read More

U.S. Auditing Standards have been revised At the end of this year,  U.S. Auditing Standards will be revised as a result of a multi-year project to both clarify existing standards and converge with International Standards. As a result,  many significant changes will be in effect for aud Read More