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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%  …

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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…

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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…

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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:…

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Local Manchester CPA, CFP Scanlon Quoted on TheStreet.com

Posted in Firm News, Tax News on November 13, 2023

Navigating taxes in your golden years Taxpayers 65+ may be eligible for certain benefits, including a higher income threshold, a higher standard deduction and some income exempt from tax. Tax season holds a distinct significance for older taxpayers, and the…

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