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.
Ten Best Practices for Year-End Close of Business
As the year draws to a close, businesses of all sizes face the annual ritual of the year-end close. This critical accounting process involves more than just crunching numbers and balancing books; it’s a strategic endeavor that can significantly impact a company’s financial health and compliance. Here are 10 essential accounting best practices for year-end close of business. They offer […]
Read MoreCironeFriedberg Welcomes New Audit Manager
CironeFriedberg, LLP, is pleased to welcome Jack Kneisel, CPA, as Audit Manager. In this role, he will provide audit and accounting services to clients in many industries. Jack brings 8 years of audit and accounting experience with a specialization in commercial real estate. He received his Bachelor of Science in Accounting from Elon University and is a Certified Public Accountant […]
Read MoreIRS Extends a Roth Catch-Up Requirement
The Secure 2.0 Act of 2022 included a provision that starting in 2024, any catch-up contributions by an employee who participates in a 401(k), 403(b) or governmental 457(b) plan and whose prior-year Social Security wages exceeded $145,000 would be required to be made with after tax dollars and deposited into a Roth account. The IRS has announced an administrative transition […]
Read MoreMaximizing Business Success By Outsourcing CFO Services
In today’s dynamic and competitive business landscape, staying financially sound and strategically agile is crucial for success. While many small and medium-sized enterprises may not have the resources to hire a full-time Chief Financial Officer (CFO), they can still harness the expertise of financial professionals through outsourced CFO services. In this article, we’ll explore the numerous advantages that businesses can […]
Read MoreFraud Prevention for Not-for-Profit Organizations
Former Finance Director of Non-Profit charged with embezzlement scheme with approximately five thousand dollars stolen for personal use. The Director abused her power and betrayed the employer’s trust by using the employer’s bank account to perpetrate fraudulent activities. The risk of fraud in Not-for-Profit (NFP) organizations refers to the likelihood that deceptive or dishonest activities may occur within the organization, […]
Read MoreNew Rule Makes 529 College Saving Plans More Flexible
The 529 savings plan is a great way to fund future college expenses by saving over a long period of time. Some parents, however, hesitate to set up and fund this plan because of the unknowns. There is no guarantee that a child will attend college, or whether the funds will be needed if scholarships or other financial aid are […]
Read MoreExploring Agreed-Upon Procedures
In the dynamic landscape of financial reporting and auditing, accounting professionals are constantly seeking innovative ways to provide assurance and insights to their clients. One approach that has gained prominence in recent years is Agreed-Upon Procedures (AUP) accounting engagements. AUP engagements offer a flexible and tailored approach to address specific financial and non-financial reporting issues, making them a valuable tool […]
Read MoreA Strategic Solution for Businesses: Outsourcing Accounting Services
In today’s fast-paced business landscape, organizations must maintain precise financial records, navigate complex regulations, and make informed financial decisions to thrive. However, many businesses, particularly smaller ones, find it challenging to handle their accounting tasks in-house, especially in this tight labor market. Outsourcing accounting services has emerged as a strategic solution, offering a wide array of benefits that can significantly […]
Read MoreIRS Stops Processing of Employee Retention Credit (ERC) Claims Through 2023
There has been growing concern over Employee Retention Credit (ERC) claims filed by unqualified business owner applicants fueled by a surge in scammers encouraging ineligible business owners to file claims. Honest business owners are plagued with aggressive broadcast advertising, direct mail solicitations, and online promotions for this credit. Many of these ads misrepresent who can qualify for the ERC, which […]
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