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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Answers to your questions about taking withdrawals from IRAs

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA...

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Choosing a business entity? Here are the pros and cons of a C corporation

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the...

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Strategies for investors to cut taxes as year-end approaches

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some...

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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...