Insights
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.
Are You Concerned About Maximizing the Value of Your Business?
Some business owners pass their businesses on to their adult children using estate-planning or gifting strategies. Others believe that the sale of their business represents a prudent way to maximize the value of their holdings. Yet, when it’s time to sell their business, they have only a vague idea of what the business is worth. Many business owners have developed […]
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April 2022 Tax Deadlines
April is a busy month for tax filing. Be aware of upcoming deadlines in 2022 to avoid penalties. For guidance on your personal tax situation, consult your CPA. April 1 First Required Minimum Distribution (RMD) by Individuals Who Turned 72 in 2021 RMD is the annual minimum amount you must withdraw from your IRA, SEP IRA, SIMPLE IRA, or retirement plan […]
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Does Your Nonprofit Need an Independent Audit?
The Internal Revenue Service (IRS) doesn’t require nonprofits to have independent audits, but that doesn’t mean your nonprofit never needs an audit. Some federal, state and local government agencies require audits, as do some banks and foundations. For example, Connecticut requires an audit if gross revenues exceed $500,000. Generally, the requirements relate to the nonprofit’s size or spending. When an […]
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Managing Partner Tony Cirone Honored with Leadership Award
Congratulations to our Managing Partner, Anthony “Tony” W. Cirone, Jr., CPA, recipient of the 2022 Nancy K. Dolan Leadership Award in recognition for his support and commitment to Immaculate High School, in Danbury, Conn., Catholic education, and the community. A celebration with the honorees, their guests, supporters of the School, and sponsors will take place on March 26th, at The […]
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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 […]
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IRS 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 […]
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Celebrating 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 […]
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CironeFriedberg Hires Client Accounting Services Manager
CironeFriedberg, LLP, is pleased to welcome Amado Rodriguez to its growing firm as Manager of its Client Accounting Services group. He will be responsible for Outsourced CFO and Controller services and Bookkeeping and Accounting services for the Firm’s business clients. Rodriguez has over 21 years of experience in accounting, with eight years in the private sector and 13 years in […]
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Deducting 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 […]
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