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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2023 Q2 tax calendar: Key deadlines for businesses and employers

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in...

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Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return

April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re...

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The 2022 gift tax return deadline is coming up soon

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re...

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Changes in Sec. 174 make it a good time to review the R&E strategy of your business

It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions...

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Protect the “ordinary and necessary” advertising expenses of your business

Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new...

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Claiming losses on depreciated or worthless stock

Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you...

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Buying a new business vehicle? A heavy SUV is a tax-smart choice

If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break...