As a reminder, 2025 3rd quarter estimates are due September 15th, 2025. Your 2025 quarterly estimated coupons and instructions would have been included with your completed 2024 tax return, if applicable. The 3rd quarter estimate payments can be made online or mailed via check and should be postmarked no [...]
The Massachusetts Department of Revenue (DOR) has finalized regulation 830 CMR 62B.2.4, which establishes new rules for withholding on the sale of Massachusetts real estate by non-resident taxpayers. These rules will take effect for closings on or after November 1, 2025 and apply to transactions with a gross sales [...]
Every career experiences its highs and lows, but when challenging times arise, staying motivated can become a daunting task. Whether it’s navigating heavy workloads, dealing with difficult clients, or facing unexpected obstacles, it’s easy to lose sight of your goals. However, it’s important to remember that staying motivated during [...]
If you’ve been considering starting a retirement plan for your employees, the timing has never been better. Thanks to SECURE Act 2.0, small and mid-sized businesses can now take advantage of substantial tax incentives that dramatically lower the cost of launching and maintaining a 401(k) or similar retirement plan. At Newburg CPA, [...]
As your business grows, so do your responsibilities, including compliance with regulations related to your company’s 401(k) plan. If your business has reached the threshold requiring a 401(k) audit, you may be wondering what to expect. This guide will walk you through the process, helping you understand the requirements, [...]
QuickBooks is one of the most powerful tools on the market for managing small business finances, but getting started can feel daunting. Setting up your account properly and taking advantage of key features is the best way to save time and avoid headaches when tax season rolls around – [...]
The Internal Revenue Service (IRS) has released its annual "Dirty Dozen" list of tax scams for 2025, cautioning taxpayers, businesses, and tax professionals to remain vigilant against prevalent schemes that endanger their tax and financial data. These fraudulent tactics, which range from phishing email schemes to deceptive tax credits, [...]
Massachusetts residents can look forward to tax-free shopping this summer. The Commonwealth’s annual Sales Tax Holiday will take place on Saturday, August 9th and Sunday, August 10th, 2025. This two-day event allows individuals to purchase certain personal items without paying the state’s 6.25% sales tax, offering a great opportunity [...]
In the fast-paced world of accounting, professional growth is often driven by the guidance, advice, and support we receive from others. As you look to advance your career, one of the most valuable assets you can have is a mentor — a seasoned professional who can offer insights, share [...]
Managing business expenses efficiently is a crucial aspect of financial health, yet many small business owners struggle with keeping track of receipts, categorizing transactions, and integrating expense data with their accounting software. Fortunately, expense tracking apps provide a streamlined solution. A recent NerdWallet article, Best Small-Business Expense Trackers of [...]
