https://mugforddibellallc.com/ Take a look at our recent blog posts and client newsletter articles. en-us Mon, 01 Jun 2026 09:00:00 +0000 Mon, 01 Jun 2026 09:00:00 +0000 https://www.mugforddibellallc.com/newsletter.php#1 Investors often look to small, emerging companies for portfolio diversification and growth potential, but these investments can offer more. Certain shares may also provide valuable tax advantages under the qualified small business (QSB) stock rules. Tax legislation signed into law in 2025, commonly known as the One Big Beautiful Bill Act (OBBBA), enhanced those benefits. Mon, 01 Jun 2026 09:00:00 +0000 https://www.mugforddibellallc.com/newsletter.php#1 https://www.mugforddibellallc.com/newsletter.php#2 When business owners think about risk, they often focus on market pressures or operational challenges. An IRS audit usually isn't top of mind - but it can be costly, disruptive and time-consuming. Although some taxpayers are randomly selected for an audit, many audits occur because the IRS has identified certain patterns or inconsistencies. Understanding where these risks typically arise can help you limit your business's exposure. Mon, 01 Jun 2026 09:00:00 +0000 https://www.mugforddibellallc.com/newsletter.php#2 https://www.mugforddibellallc.com/newsletter.php#3 If your business is like many today, you're seeking more ways to attract and retain talent. One option is to offer tax-advantaged educational assistance under Internal Revenue Code Section 127. Recent legislative changes have expanded the value of this benefit. Mon, 01 Jun 2026 09:00:00 +0000 https://www.mugforddibellallc.com/newsletter.php#3 https://mugforddibellallc.com/blog.php?id=47 The latest frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits from the Internal Revenue Service. Mon, 30 Oct 2023 09:00:00 +0000 https://mugforddibellallc.com/blog.php?id=47 https://mugforddibellallc.com/blog.php?id=46 New Britain CPA firm Mugford & DiBella, LLC is pleased to welcome new staff to our growing firm. Wed, 05 Oct 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=46 https://mugforddibellallc.com/blog.php?id=45 Here are six tax provisions in the Inflation Reduction Act (IRA) affecting businesses. Tue, 20 Sep 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=45 https://mugforddibellallc.com/blog.php?id=44 Monday, October 17, 2022, is the extension deadline for most taxpayers. Taxpayers are encouraged to file a complete and accurate return as early as possible once they have gathered all their information. Fri, 09 Sep 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=44 https://mugforddibellallc.com/blog.php?id=43 Connecticut’s week of sales tax-free shopping occurs Sunday, August 21 through Saturday, August 27. Mon, 01 Aug 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=43 https://mugforddibellallc.com/blog.php?id=42 An employee who earns tips over $20 in a month must report them. Fri, 29 Jul 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=42 https://mugforddibellallc.com/blog.php?id=41 rnA reverse mortgage can let you tap into cash to finance a home improvement, pay off your mortgage, supplement your retirement income, or pay for healthcare expenses. It is not without risk, however. Fri, 29 Jul 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=41 https://mugforddibellallc.com/blog.php?id=40 Here are a number of aggressive and evolving schemes the IRS wants taxpayers to know about and avoid. Fri, 29 Jul 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=40 https://mugforddibellallc.com/blog.php?id=38 The IRS updates the mileage rates once a year, generally in the fall, for the next calendar year. They have announced increases for the second half of 2022. Mon, 11 Jul 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=38 https://mugforddibellallc.com/blog.php?id=39 Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. Mon, 11 Jul 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=39 https://mugforddibellallc.com/blog.php?id=37 In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes? Here are ten facts to remember if you sell your home this year. Tue, 21 Jun 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=37 https://mugforddibellallc.com/blog.php?id=36 Employers have a couple of options when finding a trusted payroll service provider. Learn more. Tue, 21 Jun 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=36 https://mugforddibellallc.com/blog.php?id=35 For 2023, the annual inflation-adjusted contribution limit for a Health Savings Account (HSA) increases. This is worth noting for tax planning purposes. Tue, 14 Jun 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=35 https://mugforddibellallc.com/blog.php?id=34 The job market for summer employment is looking good, especially in the service sector. Employers are welcoming summer student employees. It is important to know that part-time and seasonal employees are subject to the same tax withholding rules that apply to other employees. Wed, 08 Jun 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=34 https://mugforddibellallc.com/blog.php?id=32 Businesses of all sizes benefit from outsourcing a CFO or controller. Whether you need part-time or full-time support, outsourced CFO and controller services give you access to the expertise you need without adding to your payroll expenses. Wed, 18 May 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=32 https://mugforddibellallc.com/blog.php?id=31 Here is a look at payroll industry trends, new technology, and remote workers as we move into 2022. Mon, 25 Apr 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=31 https://mugforddibellallc.com/blog.php?id=30 Crowdfunding has become more popular during the pandemic. It\'s a good way to to raise cash you need. However, it can affect your income taxes. Fri, 01 Apr 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=30 https://mugforddibellallc.com/blog.php?id=29 Are you ready for the 2022 tax filing deadline? If you have no filed yet, do not panic. Here are some tips to help you get your taxes organized and filed quickly. Fri, 01 Apr 2022 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=29 https://mugforddibellallc.com/blog.php?id=28 The end of tax season draws near, but before April 18th, there are electronic forms filing deadlines on March 31 that may apply to you. Tue, 01 Mar 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=28 https://mugforddibellallc.com/blog.php?id=26 Form 1024, which was previously filed using a paper version, has been revised by the IRS to allow electronic filing. Learn more. Tue, 01 Mar 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=26 https://mugforddibellallc.com/blog.php?id=25 While the format of Form 1040 and its schedules remain similar to 2020, there are several changes. Many of these changes can be attributed to the American Rescue Plan Act of 2021 (ARP). Tue, 01 Mar 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=25 https://mugforddibellallc.com/blog.php?id=27 If you have not contributed funds to an Individual Retirement Account (IRA) for tax year 2021, or if you have put in less than the maximum allowed, you still have time to do so. Learn more. Tue, 01 Mar 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=27 https://mugforddibellallc.com/blog.php?id=23 When completing a tax return, taxpayers need to know when it\\\\\\\'s best to take a standard deduction or to itemize. Tue, 15 Feb 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=23 https://mugforddibellallc.com/blog.php?id=24 March starts off with two important tax deadlines for Farmers, Fisherman, and large employers that provide health insurance to full-time employees. Tue, 15 Feb 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=24 https://mugforddibellallc.com/blog.php?id=22 Here are important tax deadlines for individuals, businesses, and employers to be aware of for February 16th, 18th, and 28th. Mon, 14 Feb 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=22 https://mugforddibellallc.com/blog.php?id=21 If you are working remotely from a location in a different state (or country) from that of your office, then you may be wondering if you will have to pay income tax in multiple jurisdictions or whether you will need to file income tax returns in both states. Wed, 02 Feb 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=21 https://mugforddibellallc.com/blog.php?id=20 Mugford & DiBella, LLC, is pleased to announce the expansion of its tax, accounting, and advisory services through its merger with Southington CPA firm Daigle, Smith & Chubet, LLC. Wed, 02 Feb 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=20 https://mugforddibellallc.com/blog.php?id=19 The IRS will send out two letters to taxpayers in January. Do not throw them away. Your tax preparer will need them when preparing your 2021 federal tax returns. Mon, 10 Jan 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=19 https://mugforddibellallc.com/blog.php?id=18 Periodically reviewing your credit report can help you protect your credit rating and you from fraud and identity theft. Tue, 04 Jan 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=18 https://mugforddibellallc.com/blog.php?id=17 Starting in January 2021, the IRS Identity Protection PIN Opt-In Program expanded to include all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity theft victims. Tue, 04 Jan 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=17 https://mugforddibellallc.com/blog.php?id=16 Many people assume tax planning is the same as tax preparation, but the two are quite different. Tue, 04 Jan 2022 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=16 https://mugforddibellallc.com/blog.php?id=15 As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2021. Wed, 29 Dec 2021 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=15 https://mugforddibellallc.com/blog.php?id=13 Several end-of-year tax planning strategies are available to business owners to reduce their tax liability Tue, 23 Nov 2021 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=13 https://mugforddibellallc.com/blog.php?id=14 Many businesses can use these end-of-year tax planning strategies to reduce their tax liability. Tue, 23 Nov 2021 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=14 https://mugforddibellallc.com/blog.php?id=12 While similar to FSAs (Flexible Savings Plans) in that both allow pretax contributions, Health Savings Accounts or HSAs offer taxpayers several additional tax benefits. Wed, 17 Nov 2021 15:00:00 +0000 https://mugforddibellallc.com/blog.php?id=12 https://mugforddibellallc.com/blog.php?id=11 Strategies commonly used to help taxpayers minimize their tax liability include accelerating or deferring income and deductions. Which strategy you use depends on your current tax situation. Fri, 05 Nov 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=11 https://mugforddibellallc.com/blog.php?id=10 If you're looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale of a home. Fri, 22 Oct 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=10 https://mugforddibellallc.com/blog.php?id=9 Mugford & DiBella, LLC, is pleased to announce the expansion of its tax, accounting, and advisory services to business clients through a recent acquisition agreement with Fasulo & Albini CPAs, in Plantsville. Wed, 13 Oct 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=9 https://mugforddibellallc.com/blog.php?id=7 Every business owner knows you need to make numerous adjustments along the way. So, how do you handle the array of questions facing you? One way is through cost accounting. Thu, 07 Oct 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=7 https://mugforddibellallc.com/blog.php?id=8 Named after Section 1031 of the tax code, a like-kind exchange generally applies to real estate and was designed for people who wanted to exchange properties of equal value. Thu, 07 Oct 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=8 https://mugforddibellallc.com/blog.php?id=6 Individuals with significant assets should take advantage of proven tax strategies such as gifting and direct payments to educational institutions to transfer wealth to heirs tax-free, as well as minimize estate taxes. Fri, 01 Oct 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=6 https://mugforddibellallc.com/blog.php?id=4 Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left wondering how they're going to pay for the cleanup or when their businesses will be able to reopen. The good news is that there is relief for taxpayers - but only if you meet certain conditions. Let's take a look. Wed, 15 Sep 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=4 https://mugforddibellallc.com/blog.php?id=5 The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting July 15, 2021. Here's what families need to know. Wed, 15 Sep 2021 14:00:00 +0000 https://mugforddibellallc.com/blog.php?id=5