News | Connolly, Steele & Company

The latest news from Connolly Steele about personal & business accounting, payroll & tax services plus financial advice & planning.

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Intangible assets: How must the costs incurred be capitalized?

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so...

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Year-end giving to charity or loved ones

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before...

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Is your business closing? Here are your final tax responsibilities

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration,...

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How savings bonds are taxed

Series EE Bonds dated May 2005 and after earn a fixed rate of interest. Bonds purchased between May 1997 and April 30, 2005, earn a...

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Computer software costs: How does your business deduct them?

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer...

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Inflation means you and your employees can save more for retirement in 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently...

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Adopting a child? Bring home a tax break too

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit...