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.
Cyberattacks Accelerate and Target Excel Users
According to Check Point, in the last quarter of 2021 there were over 900 weekly cyber-attacks per organization recorded. In 2021, there was a 50% increase in overall attacks per week on corporate networks compared to the previous year. The Journal of Accountancy recently published an article on the alarming rise in cyberattacks occurring in the last three months of 2021 related […]
Read MoreIRS Allows Electronic Filing of Form 1040-X
The Internal Revenue Service (IRS) has announced that taxpayers can now file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products. Form 1040-X is used to amend various versions of an individual’s Form 1040. Providing the ability to electronically file a Form 1040-X had been a goal of the IRS for a number of years, according […]
Read MoreCelebrating the Achievements of Our Leaders
Our Firm’s Partner, Sandra D. Callanan, CPA, who is responsible for the Firm’s audit and accounting practice and quality control systems, was recently honored by the Connecticut Society of CPAs (CTCPA) as a recipient of the 2022 CTCPA Women Distinguished Service Award. Sandy was one of seven women honored during the celebration recognizing excellence in leadership and management in the […]
Read MoreDeducting Business Expenses: Separating Fact from Myth
When you’re filing your tax returns, what expenses can you deduct from business income? It’s a complex question. To start with, a business expense must be both ordinary and necessary to be deductible, according to the IRS. An ordinary expense is one that’s common and accepted in your trade or business. A necessary expense is one that’s helpful and appropriate […]
Read MoreInsurers Must Now Cover COVID-19 Tests
According to a statement on the website of the Centers for Medicare & Medicaid Services, most consumers with private health coverage can go online or to a pharmacy or store, buy a test, and have their health plan pay for it, either upfront or after they submit a claim. “This requirement incentivizes insurers to cover these costs up front and […]
Read MoreALERT: Child Tax Credit Letters in Question
If you received Internal Revenue Service (IRS) Letter 6419 regarding Child Tax Credit (CTC) advance payment in the mail in January, please be aware that the information in it may be outdated. In an article dated January 25, 2022, MarketWatch reported that the IRS has received reports of some families having received inaccurate information about their Child Tax Credit payments. […]
Read MoreWondering Whether an Audit Can Benefit You?
Constant, unwelcomed change and modern technological advances have driven demand for increased transparency. Businesses are required, and expected, to disclose more information about their taxes, financial records, operations and executive salaries. Although private companies are spared the intense scrutiny of professional auditors and are not required to provide an external review of their financial statements, business leaders should consider the […]
Read MoreCan I Deduct That Business Meal?
Many changes have occurred with regard to meal and entertainment deductibility since the Tax Cuts and Jobs Act of 2017 (TCJA) and continuing with the Consolidated Appropriations Act of 2021 (CAA) signed into law on December 27, 2020. In an effort to help the struggling restaurant industry during the COVID-19 pandemic, changes were made to allow a 100% deduction for business […]
Read MoreCironeFriedberg Announces Promotions and Welcomes New Hires
CironeFriedberg Announces Promotions (January 24, 2022 – Shelton, Conn.) CironeFriedberg, LLP, is pleased to announce the promotions of Rigoberto Escalera, Jennifer Furino, Matthew Paci, and Benjamin Vessichio to Senior Accountant. The Firm welcomes new Staff Accountants Natalya Brown, Emma Coschigano, and Nicholas Terentino. Tony Cirone, CironeFriedberg’s managing partner, says “We extend congratulations on these well-deserved promotions and a […]
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