Satty, Levine & Ciacco, CPAs, P.C. Blog

Early withdrawals from your 401k funds can result in hefty penalties. Under some circumstances the IRS allows penalty- free withdrawals. Read on to find out more about 401k withdrawals!

It’s never too early to start preparing for your retirement. Personal financial planning is the first step to help you become financially independent. Read on to find out tips about how to plan for your future.

Accounting can be a tricky subject to tackle. When it comes to business accounting, regardless if you manage it or outsource it, it’s important to have a basic accounting understanding so you can be best prepared for your company. Once you understand the basic terminology you can better determine whether you need to outsource your accounting or if you can do it yourself.

You may have heard about an earned income credit. But what exactly is it? And how do you know if you qualify for it? Read on to find out everything you need to know.

If you’ve ever been confused about the difference between a tax credit and a tax deduction, you’re not alone. These are two of the many items listed on your tax returns. Read on to find out the distinctions between the two.

We’ve all heard the term, “mergers and acquisitions” before, but what are they? Well, in simple terms, they are when two companies join together to maximize a shareholder’s wealth. Sounds simple enough, but what’s the actual difference between the two? Read on to find out more!

You may want to lower your taxable income and have heard that claiming either a standard deduction or an itemized deduction could help, but you’re not really sure what those are. While paying your taxes may not be your first choice, they don’t have to break the bank once you start filing for deductions. If you need help understanding what the difference is and want to start lowering your taxable income we can help!

After the three-month extension, the day is finally here - Tax Day. While coronavirus has turned many things upside down this year, one facet has stayed consistent – taxes must be paid. Don’t let this be another headache for you with the long list of responsibilities that comes along with it. Follow our checklist to successfully conquer this year’s Tax Day.

Coronavirus brought about a lot of new adjustments that both people and companies had to deal with. With tax season coming in the middle of this pandemic, you may have some questions that need answering. We have compiled some of the most frequently asked questions this tax season.

When filing your taxes, there are two separate returns that you need to fill out, federal and state. While this may seem like double the work for you it’s easier when you have everything organized and understand what you’re doing. Your federal and state tax returns are not the same thing, and here is why that is: