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.
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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Classifying Your Employees Correctly
Employee classifications are based on job duties and responsibilities. The classifications impact compensation, benefits and work hours and are used by employers to maintain compliance with labor laws. The most common classifications are exempt and nonexempt. Exempt employees are typically salaried workers who (a) are paid the same amount each week regardless of hours worked, (b) are paid at least […]
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A Day of Giving at The Salvation Army
In the spirit of giving back to our community, a group of CironeFriedberg employees armed with paintbrushes and elbow grease teamed up to help with some much-needed interior work and sorting of donations at the Salvation Army in Ansonia. Good work, Team!
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Employee Volunteers in Our Community
A team of volunteer employees from regional accounting firm CironeFriedberg LLP stepped out of the office for a Day of Action to help the United Way with several projects at Pratt Nature Center in Litchfield County. Employees teamed up to clean up trails, dismantle old wooden tables, dig up cement blocks, mulch, and hang new curtains in the changing stations. […]
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Reducing Capital Gains to Zero
The zero percent tax bracket for capital gains is a significant benefit for many taxpayers, allowing them to potentially pay no taxes on certain capital gains. This article will explain how the zero percent tax bracket applies to capital gains for the 2024 tax filing season, based on the information provided by the IRS. Understanding Capital Gains Capital gains are […]
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Connecticut’s Sales Tax-Free Week
Connecticut residents can look forward to the 24th annual Sales Tax Free Week in 2024, a popular event that offers a temporary sales tax exemption on certain items. This year, the event will take place from Sunday, August 18, through Saturday, August 24, aligning with the state’s tradition of starting the tax-free week on the third Sunday of August. During […]
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Innovative Accounting Solutions for Not-for-Profit Organizations
The accountant shortage is impacting not-for-profit organizations, with far-reaching consequences for their financial management and reporting capabilities. In 2020, approximately 75% of the CPA workforce in the U.S. reached retirement age, according to the American Institute of Certified Public Accountants (AICPA). Compounding this issue, the number of students pursuing accounting degrees has been steadily declining, as reported in the AICPA […]
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Tax Tip: Classifying a Hobby vs. a Business
With the rise of the gig economy, many have explored turning their hobbies into profitable ventures. As a result, the lines are blurring between hobbies and small businesses, provoking many people to wonder what impact their decisions may have on their personal income taxes. So, what is the difference between a hobby and a business? The difference between hobbies and […]
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