Insights and News
CironeFriedberg is a leading CPA firm serving middle market, privately held and family owned businesses and high-net-worth individuals. Our experienced staff provides a full range of tax, audit and accounting, and business advisory services in Connecticut and neighboring Dutchess, Putnam, and Westchester counties in New York.
An Overview of Business Expense Deductions
To be deductible, a business expense must be both ordinary — common and accepted in your industry — and necessary, helpful and appropriate for your trade or business. Generally, you cannot deduct personal, living or family expenses, but if you have an expense for something that is used partly for business and partly for personal purposes, you can divide the […]
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Important Events that Affect Year-End Tax Planning
As we approach the end of the year, it’s crucial to consider how significant personal and business events may impact your tax situation. Here are some key tips to help you plan effectively. Business Mergers and Acquisitions If your company underwent a merger or acquisition this year, carefully review the tax implications: Assess any changes to your business structure and […]
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What Does the Federal Reserve Rate Cut Mean?
The Federal Reserve (Fed) has decided to lower the target range for the federal funds rate by 1/2 percentage point (50 basis points). In a statement, the Fed said that it “has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance.” However, […]
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Is an Outsourced CFO Right for You?
Outsourced chief financial officer firms provide you with an external expert to guide your company’s financial strategy, operations and planning on a part-time, contract or project basis. Leveraging this kind of external managed service can improve your company’s ability to adapt quickly and scale efficiently. Outsourced CFOs are particularly beneficial for startups, growing businesses, or companies undergoing significant changes or […]
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Understanding the 15% Capital Gains Tax
Among the key aspects of capital gains taxation is the 15% tax bracket, which applies to many investors and can significantly impact your tax liability. Working with your Certified Public Accountant (CPA) to understand and navigate the intricacies of capital gains taxation is crucial for maximizing your tax efficiency. What are Capital Gains? Capital gains refer to the profits made […]
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Maximizing Home Energy Tax Credits
Understanding Clean Energy Tax Credits Clean energy tax credits offer financial incentives to individuals and businesses that invest in energy-efficient and environmentally friendly technologies. These tax credits, designed to encourage the adoption of clean energy solutions, not only reduce the cost of implementing such technologies but also promote a sustainable and energy-efficient future. This tax credit is part of the […]
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Eight Business Tax Errors to Avoid
When the IRS looks at your tax forms, the tax agency uses a computer to compare what has been reported to it with what you have reported in terms of income. This is often carried out via 1099 forms — namely the 1099-MISC — which lists non-employee compensation. There’s also the 1099R form, which pertains to income stemming from retirement […]
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CironeFriedberg Ranks in INSIDE Public Accounting’s Top 400 Firms
CironeFriedberg LLP, a leading regional accounting firm, is proud to announce its inclusion in the prestigious INSIDE Public Accounting (IPA) Top 400 Firms list for 2024. Its ranking as 356th among the top 400 highlights CironeFriedberg’s commitment to excellence, exceptional client service, and continued growth in the accounting industry. The IPA Top 400 Firms list is compiled annually by INSIDE […]
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A CPA’s Perspective on Challenges Not-for-Profit Organizations Face
The World Health Organization officially declared the end of the COVID-19 pandemic in May 2023, yet its effects continue to reverberate through charities and other donor-dependent organizations. These entities now face challenges stemming from shifts in labor market conditions, a tightening donor environment, and an increase in the need for support from those they serve. It is important for not-for-profit […]
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