Category Archives: Articles

Irreverent, entertaining, incisive articles on a variety of accounting and tax subjects.

Attention: Small Business Owners, West Hartford, Connecticut

Are you a small business owner in West Hartford, Connecticut, who is tired of the poor service you are receiving from your present certified public accountant or exasperated with your CPA’s fees?  If so, we want your business!  We offer … Continue reading

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Tax Accounting Methods for Contractors: Select the Appropriate Method for Maximum Deferral of Taxes

Tax Accounting Methods for Contractors Select the Appropriate Method for Maximum Deferral of Taxes Have you selected the most appropriate tax accounting methods for your contracting company, maximizing the deferrral of income taxes? During these austere economic times, electing the … Continue reading

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Accrue Real Property Taxes by Electing Ratable Accrual Method or Recurring Items Exception

Electing the Ratable Accrual Method to Accrue Real Property Taxes Pursuant to Internal Revenue Code Section 461: General Rule for Taxable Year of Deduction by William Brighenti, Certified Public Accountant, Certified QuickBooks ProAdvisor, Accountants CPA Hartford, LLC of Berlin, Connecticut Many … Continue reading

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The Percentage-of-Completion Method of Accounting for Long-Term Construction Contracts

The Percentage-of-Completion Method of Accounting for Long-Term Construction Contracts According to ARB No. 45 and SOP 81-1 by William Brighenti, Certified Public Accountant, Certified QuickBooks ProAdvisor Since I first started in public accounting over thirty years ago, I have witnessed … Continue reading

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2010 Rosenberg Survey of CPA Firms Shows Revenues Flat & Profits Down

The Rosenberg Survey for 2010: National Map Survey of CPA Statistics is available for a mere $450…LOL!  Wait a minute:  I have to run out and buy myself a copy at that price.  What a steal!  It’s worth paying $450 … Continue reading

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How to Download Transactions Directly into QuickBooks

How to Download Bank Transactions Directly into QuickBooks Do you wish to save bookkeeping time and expense and minimize errors from erroneously posting entries into QuickBooks?  Then consider setting up online banking in QuickBooks. Read the article, How to Download … Continue reading

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Maximize Your Exclusion of Foreign Earned Income Using the Physical Presence Test

Maximize Your Exclusion of Foreign Earned Income Using the Physical Presence Test Are you eligible to exclude most, if not all, of your foreign earned income?   Please see chart below: Many individuals fail to employ the physical presence test in … Continue reading

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Using QuickBooks Online for Property Management Accounting

Using QuickBooks Online for Property Management Accounting Using QuickBooks Online for your property management accounting may be a solution for your property management needs. Often the individuals collecting the rents, undertaking the bookkeeping, purchasing materials or hiring subcontractors, and providing … Continue reading

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Small Business Jobs Tax Relief Act of 2010 Offers Tax Deductions and Incentives to Small Businesses

The Small Business Jobs Tax Relief Act of 2010, introduced and sponsored by Representative Sander Levin of Michigan, was passed on June 15, 2010, by the House of Representatives primarily along party lines by a recorded vote of 247 to … Continue reading

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Are you aware of the possible $7,621 in tax benefits available under the HIRE Act for each newly hired employee?

Thinking of hiring new employees? The HIRE Act enacted on March 18, 2010 allows employers to be exempt from their share of social security taxes on wages paid from then until the end of the years as well as to … Continue reading

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