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Do I have to File IRS Form 5500?

Posted in Tax News on July 2, 2010

Employers that maintain a qualified retirement plan must file IRS Form 5500–Annual Return/ Report of Employee Benefit Plan.  Qualified retirement plans include defined benefit, profit-sharing, money purchase, and 401(k) plans.  SIMPLE and SEP plans do not have to file this…

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Health Reform Seminar

Posted in Events on June 30, 2010

Borgida & Company recently held a seminar at their Manchester office on Health Reform.  Presented by John Carew and Carrie Balicki of Ovation Benefits, the informative evening highlighted the small business tax credit, grandfathered plans, and timeline of changes.  Tom Scanlon, CPA  was happy to bring…

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It's Back…The Return of the Required Minimum Distribution ("RMD")

Posted in Tax News on June 25, 2010

The RMD is back and is required for 2010 and all future years.  Taxpayers over age 70½ must take a required minimum distribution from their IRA’s and other qualified retirement plans. For 2009, the government removed the requirement for one…

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Seven Steps to Get Started with Social Media

Posted in Firm News, Small Business on June 18, 2010

Social Media is a very hot topic.  Is it for you?  Here is our (short) journey down this path. “Either you get it or you don’t.”  That’s what my consultant told me six months ago.  I didn’t get it.  Sure we…

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Why I Asked My Son to Give Me a Power of Attorney

Posted in Estate Planning on June 10, 2010

Recently my son turned 18.  In Connecticut this is considered the age of majority.  In other words, he can make his own decisions.  Well, that’s what the law says.  However, he’s still living under my roof, so he’s got to…

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