Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity. Don’t wait for this form…
The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. For 2022, Single filers can claim $12,950, Head of Household $19,400 and Married Filing Jointly $25,900. Additionally, the maximum amount that can be deducted for state and local…
Local CPA Firm Borgida & Company of Manchester, CT raises money & food to help fill MACC Food Pantry for the holiday. Borgida & Company staff, clients, family & friends stepped up to the plate again this year! Our 2022…
Thursday, November 10th was our last Fall Seminar Series workshop for 2022. The office was filled with clients who came out to hear Attorney Louis Spadaccini, Blackwell & Spadaccini LLC, who knocked it out of the park with his presentation about…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. The IRS requires business taxpayers to report amounts paid as non-employee compensation on Form 1099-NEC. Non-employee compensation will be reported in box one of the…
