scarbble tires spell "blog"
Home › Blog › Page 2

Don’t Miss Paying Your Estimated Taxes – IRS Increases Penalty for Underpayment of Taxes

Posted in Small Business, Tax News on December 20, 2023

Local Manchester, CT CPA firm Borgida & Company warns clients about missing making payments for estimated taxes and IRS penalties.   The Surprise Bill Coming to Those Who Underpay Their Taxes- The IRS penalty for shortfalls jumps to 8%  …

Read more

Tagged with: , , , , , ,

File IRS Forms 1099 & 1096 BEFORE January 31, 2024

Posted in Small Business, Tax News on December 19, 2023

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 Form 1099-NEC and is generally considered self-employment income and likely subject to self-employment tax to…

Read more

Tagged with: , , , , ,

2023 MACC FOOD DRIVE A HUGE SUCCESS!

Posted in Events, Firm News on December 18, 2023

On December 14, 2023, local Manchester accounting firm Borgida & Company, P.C. delivers truckload of supplies and $2,500 to the Manchester-based non-profit MACC Charities. After a month of collecting non-perishables and toiletries at Borgida & Company’s East Center Street office…

Read more

Tagged with: , , , , , ,

5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA NOW

Posted in Tax News on November 27, 2023

The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. For 2023, Single filers can claim $13,850, Head of Household $20,800 and Married Filing Jointly $27,700. Additionally, the maximum amount that can be deducted for state and local…

Read more

Tagged with: , , , , , , , , , , , , , , , , , ,

Changes to Client Portal Login – “How To” Instructions

Posted in Firm News on November 16, 2023

Our firm partners with Thomson Reuters to provide the software platform for our secure client portals. The November 18, 2023 update will improve your sign-in experience and security. What you need to know about changes to our client portal login:…

Read more

Tagged with: , , ,