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.
Capital Gains Tax Rates
Long-Term Capital Gains Tax Rates Long-term capital gains tax is a tax on gains from the sale of capital assets held for more than a year. The long-term capital gains tax rates are 0%, 15% or 20% depending on a combination of your taxable income and filing status. While the capital gains tax rates did not change for 2022, the […]
Read MoreCybersecurity: Essential for All Transactions
Cybersecurity — especially data privacy — is one of the biggest problems facing businesses today. These security problems are compounded because every segment of every industry is affected differently, and each is subject to the risk factors peculiar to that segment. Grouping similar data together based on chosen parameters allows businesses to assess the privacy needs of each data segment […]
Read MoreCironeFriedberg Joins Accounting Association, CPAmerica, Inc.
Two new member firms join accounting association, CPAmerica, Inc. RFH, PLLC, headquartered in Lexington, Ky., and CironeFriedberg, LLP, headquartered in Bethel, Conn., have joined CPAmerica, Inc., an accounting association of independent, certified public accounting firms that provides shared best practices, networking opportunities and access to expert resources for member firms. Gainesville, Fla. (October 6, 2022) – RFH, PLLC, headquartered in Lexington, […]
Read MoreCase Study: Cash Flow for a Medical Practice
At CironeFriedberg, we have extensive experience advising and working with physicians. We understand the changing landscape of the practice of medicine. Physicians want to provide optimal service to their patients within the context of challenging and declining reimbursements and increased paperwork. Our goal is to provide physicians with timely financial statements, advisory services, and tax information to help them manage […]
Read MoreThe Impact of Virtual Currency on Income Tax Reporting
According to Insider Intelligence, in 2021, cryptocurrency accounted for $6.10 billion worth of transactions worldwide. That represents an increase of 177.3% over the year before. The transaction value is expected to surpass $16.16 billion in 2023 as more businesses accept digital currencies as forms of payment. As the use of virtual currency explodes, the IRS is adapting tax forms to […]
Read MoreUnderstanding the Gift Tax
For tax purposes, gift givers, rather than gift recipients, have to account for and potentially pay the gift tax. But, you won’t owe the federal gift tax until you have given away millions in cash or other assets during your lifetime. It sounds simple enough, but you still may have to file gift tax returns even though you don’t owe […]
Read More2022 Tax Brackets and Standard Deductions
The end of the year brings tax planning into focus, since tax filing is right around the corner. 2022 Tax Brackets Tax rates for 2022 are remaining the same as 2021 but the tax brackets are changing slightly. In 2022 a single filer with income up to $10,275 will see a 10% tax rate in comparison to up to $9,950 […]
Read MoreImportant Tax Deadlines
Important Tax Deadlines Estimated Quarterly Tax Payments For income you earned June 1 – August 31, 2022, your tax payment deadline is September 15, 2022. For income you earn September 1 – December 31, 2022, your tax payment deadline is January 17, 2023. Individual Income Tax Returns on Extension Those taxpayers who received an extension of time to […]
Read MoreThe Strategic Role of the CFO
The chief financial officer of a company has always had a seat at the table, but the current business environment combined with changes wrought by the pandemic make the role even more important today. CFOs, who are already dealing with the perfect storm of rising prices, higher interest rates, continuing supply chain issues and labor shortages, now must emphasize strategic […]
Read More