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.
Maximizing 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 […]
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Fraud 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, […]
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New 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 […]
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Exploring 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 […]
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A 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 […]
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IRS 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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Announcing Staff Promotions
CironeFriedberg, LLP, is pleased to announce the recent promotions of Lucas Ullrich, CPA, to Supervisor and Hoang Nguyen and Adam Ross to Senior Accountants. Lucas Ullrich, CPA, received his Master of Science in Accounting from Post University and his Bachelor of Science in Business Administration with a concentration in Accounting from Southern Connecticut State University. He specializes in audit and […]
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Navigating the Complexities of the New Lease Standard under ASC 842
By now all organizations should have implemented Accounting Standards Codification 842, Leases (ASC 842), into their financial reporting practices under generally accepted accounting principles in the United States of America. The Financial Accounting Standards Board (FASB) introduced ASC 842 to address the longstanding concern of lease accounting transparency. ASC 842 aims to provide a comprehensive framework for reporting leases, mandating […]
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Connecticut’s 2023 Tax-free Week
Each year, starting the third Sunday in August, for one week in Connecticut, no state sales tax is charged for the purchase of certain clothing and footwear costing less than $100. The week of sales tax suspension starts Sunday and ends Saturday. There are a few things to keep in mind when considering a purchase. For example, the tax exclusion […]
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