Welcome to another new year. As a local (Newington and Bristol) CPA firm we are here to help you in 2010 and in the future. We are a full service, year round firm providing service to our clients since 1953. _______________________________________________________________________________
About Us
We are a full service local CPA firm with offices in Newington and Bristol Connecticut. The firm focuses on helping individuals, small and medium sized businesses become more operationally effective and successful (profitable). We provide assistance with accounting software installation, payroll services and training including QuickBooks®. We have a certified QuickBooks Advisoron staff.
We have experience in public accounting working with individuals and businesses in a number of industries as well as experience working in corporations and government. We continue to improve our knowledge and skills by attending seminars, workshops and other educational opportunities to provide our clients with the most up to date service.
Our services include:
Corporate and individual tax preparation and consulting (state and federal) including electronic filing including late filed returns and out of state tax returns
Estate and Business Planning and financial planning (not as a securities salesperson) but rather as an unbiased advisor
We are experienced and can handle Sales tax and Workmen's Compensation audits at our office
Financial statements, assistance with financial applications including mortgages and college financial aid
Assistance for new homeowners and those purchasing rental property for investment
Bookkeeping (weekly, monthly, quarterly or annually) including QuickBooks
Payroll services (weekly, biweekly, monthly)
Assistance with establishing your presence on the Internet and basic website design (How to register a domain name, create a basic website, email, etc.)
We are experienced in representing clients with Audit/Examination and collection issues before the Internal Revenue Service (IRS) and the CT. Dept of Revenue Services (DRS) including installment payment arrangements and late filed tax returns
Our staff also provide representation before the IRS Appeals organization and Problem Resolution
Business advisory services including succession planning and organizational improvement, small business startup, facilitation and website setup
We are experienced in preparation of Estate Tax Returns, probate accounting and other assistance with probate issues
QuickBooks training, installation and assistance with Certified QuickBooksProAdvisors® on staff
Organizational improvement leading to cost reduction for businesses and ultimately saving money
If you have started a small business or are considering starting a business we can discuss with you some of the options, the responsibilities of being self-employed, etc.
Our clients include:
Restaurants
Doctors
Attorneys
Construction Contractors
Food distributors
Real Estate Developers and real estate agents
Independent contractors
Municipal agencies
Other small business
Call us to make an appointment. We provide independent advice and do not sell financial products (stocks, bonds, mutual funds) or insurance products. Some advisors receive a commission for selling you a product which may influence what they recommend. We receive compensation only from the client not from outside companies. We do not recommend specific stocks, bonds, mutual funds or other products.
Our focus is on providing local personal service and we provide a professional staff and year round service for our clients. We are open year-round We do provide electronic filing of tax returns and with direct deposit of any refunds you have your money within several weeks of the tax returns being filed (usually) without paying extra fees.
January 2010
The final estimated tax payment for individuals to IRS and the State of CT was January 15, 2010. We are ready to assist you with your individual or business/corporate tax returns.
December 2009
The IRS on December 3, 2009 that the 2010 standard mileage rates have changed. The new rate for business automobiles is $ .50 per mile in place of $ .55 for 2009. The rates for moving expenses and medical have also changed.
November 2009
Congress has made several changes to the New Homeowner Tax credit as well as a new credit for existing homeowners that purchase a different personal residence. Both credit now apply until June 2010. Contact us regarding your potential eligibility.
October 2009
The IRS has announced that for 2009 tax returns several additional forms will be required for those that do not itemize their deductions if claiming sales tax on a new vehicle or real estate tax on a personal residence. Other changes can be expected.
September 2009
Estimated Tax The deadline for individuals for the third estimated tax payments to IRS and the State of CT was September 15, 2009. The last (4th) estimated tax payments for individuals is January 15, 2010.
Year End Tax Planning This is a good time to review your investments and to determine if some assets should be sold prior to the end of the year. At the same time it is a good time to review your income and deductions for 2009 to determine if it is appropriate to pay state estimated tax payments in December as well as real estate tax, etc. If you have an estimated tax liability it may also be appropriate to consider if the last payment should be larger or smaller than the previous payments. If you have tax withholding from wages/salary or from pensions you could change the withholding now to reduce or eliminate any potential tax penalties for not having made sufficient estimated tax payments during the year. If you think this applies to you contact us to make an appointment to review your particular situation.
New Homeowner Tax Credit
The $ 8,000 New Homeowner Tax Credit passed by Congress requires eligible persons to purchase the property ("Close") before December 1, 2009. Currently (late September) there is NO ability to extend the deadline. If Congress changes the law to extend the deadline then a later date would apply.
Are you unemployed and without medical insurance? A new law may allow you to obtain medical insurance with the government paying 65 percent of the premium for nine months. Ask your former employer or click here for information from the U.S. Department of Labor.
We can be reached at (860) 667-0105 in Newington or 589-1418 in Bristol.
It is important that you understand what you are investing in and the ramifications of the investment including the tax impact. We do not sell investments but we are available to review your investments with you, although we will not recommend specific investments.
Late Filing of Tax Returns -
2008 Tax Returns:
If you were unable to file your 2008 tax return by the April 15, 2009 deadline we can help. Call us to make an appointment to bring in your information and we can prepare the tax return for you. E-Filing of 2008 tax returns is not available but a paper tax return can still be filed and we can review with you your options for paying any balance due (if applicable).
We can prepare
your tax return either in person, drop off of material or by mail. For new clients we
recommend an appointment with one of our associates. For
returning clients we can provide you with a tax organizer and you can
mail in or drop off your information. Our rates are competitive with
other professionals in the area. Our fees are based on the amount of time the return takes to prepare, not based on the amount of refund or income. We are an authorized efile provider and do not provide refund anticipation loans.
Just up the street from Newington High School and the V.A. Hospital and several blocks North of Cedar Street. We have been in this location since 1989.
225 North Main Street Suite 306
Bristol, CT 06010-4993
(860) 589-1418 email
Just up the street from the Post Office and the Fire Department in the Progress Square building. We have been in this location more than 10 years.
Newington office
Bristol office. We are located in Suite 306 on the 3rd Floor
Latest news for clients and potential clients:
The tfinal estimated payment for individuals and the self-employed (Form 1040) for 2009 was due on January 15, 2010.
If you financial situation has changed then it may be time to make a change to either your estimated tax payments or to your tax withheld at work. We can help project your tax for 2010. Now is the time for a tax and financial update to review 2009 and how 2010 can be different. Call us now to schedule an appointment.
Business Owners
With the extreme change in the cost of fuel, utilities and other commodities for your business your profit may be significantly changed for 2009. It may be time to sit down with us and consider other business strategies for your business. Also record keeping is more important than ever for your business with the cost of fuel and other business expenses. Is it time to outsource your payroll processing? Are you dissatisfied with your current payroll service? We can help. We can prepare your weekly, biweekly or monthly payroll for you at a competitive price. Call us to discuss your needs and how we can help you.
We may be able to provide you with other business strategies to remain profitable. A number of Federal and CT tax changes may impact you and your business. Call us to make an appointment to discuss you you may be impacted.
Information provided on this website is provided for general public information and is not intended to provide specific recommendations. Personal or business situations vary and specific advice can only be provided on an individual basis. Discuss your specific situation with a tax professional, financial advisor or attorney. We are available to provide information and advice to clients on a fee basis. Information contained on this website is not intended to protect clients relative to any type of tax penalties which apply under the provisions of the Internal Revenue Code as per Treasury Circular 230.
Entire contents of this website is copyrighted except for copyright material of other organizations. Fulco, DiTommaso, McMahon & Co., P.C. 2009-2010.
