Newsletter

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

A monthly newsletter produced by the firm of DiSabatino, CPA providing tax saving, business and financial strategies geared towards helping our clients.

February DiSabatino, CPA Newsletter

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February 2020

In this Issue: 

This Month:

  • February 14: Valentine's Day
  • February 17: Presidents' Day
  • Reminders:
    • Collect all tax forms (W-2s, 1099s, others)
    • Set up tax appointment
    • Rebalance investment portfolios

   The 2019 tax filing season is in full swing. If you have not already done so, now is the time to collect your tax forms, organize your records and set a schedule to get your tax return completed.

Deep in the Form 1040 instructions is an annual recap of federal income and how the money is spent. Since most taxpayers no longer see these instructions, a recap of this information is provided here for your review.

Given late breaking tax laws, now is a good time to read a review of how newly passed retirement rules could help you save more. This issue also includes an article with several interesting facts about Valentine’s Day and for small business owners, some information is provided to help your employees navigate the new W-4 paycheck withholding form. 

Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them.

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January DiSabatino, CPA Newsletter

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 January 2020

In this Issue: 

This Month: 

  • January 1: New Year's Day
  • January 15: 4th Quarter Estimated Payments Due 
  • January 20: Martin Luther King Jr. Day 
  • Start Tax Planning for the New Year
    • Adjust Withholdings
    • Organize Filing Records
    • Schedule Tax Consultation 
    • Rebalance Investment Portfolio

   Welcome 2020. A new year calls for a fresh look at your financial strategies. Consider how to make the most of your savings accounts — and don't forget you still have time to fund your IRA! You can also try the following fail-proof tricks to keep your New Year's resolutions on track.

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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December DiSabatino, CPA Newsletter

December 2019

In this Issue:

This Month:

  • December 22: Hanukkah begins
  • December 25: Christmas Day
  • December 26: Kwanzaa begins 
  • January 15: 4th Quarter Estimated Payments Due 
  • Take Final Year-End Actions: 
    • Deductible Gifts 
    • Capital Gains/Losses
    • Charitable Giving 
    • Dividend Income 

   It's almost New Year! Have you done your yearly credit report checkup yet? While you're at it, protect yourself from charity scams this season by reviewing some big red flags, and learn how to prioritize cash flow in your business. 

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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November DiSabatino, CPA Newsletter

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 November 2019

In this Issue:

This Month:

  • November 11: Veterans Day
  • November 28: Thanksgiving
  • November 29: Black Friday (Shopping Deals Day)
  • Reminder: Conduct year-end tax and financial planning

2020 is coming quick — are you prepared? Take stock now and learn about the year-end moves that'll help you save. Plus, consider how the 2020 Social Security changes will affect your plans. And make sure you're hitting the employment tax deadlines.

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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October DiSabatino, CPA Newsletter

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 October 2019

In this Issue: 

This Month:

  • October 1: SIMPLE IRA plan establishment due
  • October 15: Extended individual and C-Corp Tax Return Filing Deadline
  • October 31: Halloween

   Autumn's in full swing, meaning it's time to start preparing for the busy months ahead. You can get ready by learning about the Form 1040 updates you'll see this 2019 tax season, as well as the new Marketplace Facilitator sales tax laws for anyone that sells through Amazon or eBay. You can also brush up on your rights if a bill collector ever harasses you.

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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August DiSabatino, CPA Newsletter

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August 2019

In this Issue: 

  • I Owe Tax on That? 5 Surprising Taxable Items
  • Headed to the Fair? Avoid These Spending Traps
  • Smart Tactics to Manage Student Debt
  • Cash Flow Concepts That Can Save Your Business

This Month:

  •  September 2: Labor Day

Summer is starting to wind down and the kids will soon be headed back to school. Now is a great time to review if you've had, or will have, any special taxable events this year. The first article highlights five taxable items that come as a surprise to many people. This month's newsletter also includes spending traps to avoid when headed to the fair, ways to manage the burden of student loan debt, and cash flow strategies that can save your business.

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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July DiSabatino, CPA Newsletter

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July 2019

In this Issue: 

  • Effective Tax Planning Starts Now!
  • Can't Miss Stops for Your Summer Road Trip
  • What You Need To Know About IRS Audits
  • Make Setting Salaries Easier With These 5 Steps

This Month:

  • July 4: Independence Day

Tax day might seem far away, but waiting until year-end to make your tax moves may prove costly to you. Maximizing your tax savings starts with an effective mid-year strategy! Detailed here are some ideas to kick-start your summer tax planning. This issue also includes some unique and free summer travel destinations, an infographic with key IRS audit information, and five steps to help your business set the right salaries for your employees.

Call if you would like to discuss how this information relates to you. If you know someone who can benefit from this newsletter, feel free to send it to them.

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June DiSabatino, CPA Newsletter

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June 2019

In this Issue: 

  • 5 Summer Tax Savings Opportunities
  • Get Your Life Back! Ideas to Unplug
  • Payroll Fraud Schemes Every Business Should Know
  • Never Take on the IRS Alone

This Month:

  • June 16: Father's Day
  • June 17: 2nd qtr estimated taxes due
  • June 17: 2018 tax deadline for U.S. citizens living abroad

Summertime offers unique tax saving situations. Outlined here are five ideas everyone can use. Plus, this issue includes ideas to help you unplug from your electronics and discusses possible payroll fraud schemes. Finally, spend a minute reviewing the wisdom of asking for help should you be contacted by the IRS.

Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them.

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May DiSabatino, CPA Newsletter

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May 2019

In this Issue: 

  • You Know You Need Tax Planning If...
  • Al Capone, Aunt Becky, Tax Fraud and You! How you can learn from high-profile tax scandals
  • Watch Out! 7 Vacation Costs That Sneak Up on You
  • 4 Key Elements of Great Business Books

This Month:

  • May 12: Mother's Day
  • May 15: Exempt organization tax returns due
  • May 27: Memorial Day

With tax season in the rear-view mirror, it's full speed ahead into tax planning season. While it's important for everyone to have a tax roadmap, there are key situations that require extra attention so you can avoid a major tax pothole. This issue includes lessons to learn from some high-profile tax scandals, sneaky vacation costs that can ruin your vacation, and an inside look at some key characteristics of a great bookkeeping system.

Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them.

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April DiSabatino, CPA Newsletter

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April 2019

In this issue:

  • Tax Quiz: Wild State Tax Laws
  • 4 Key Metrics to Fortify Your Business
  • Leasing vs. Buying a Car: Knowing the tricks makes you a better decision-maker
  • Tax Day is Here: 5 Big Questions People Are Asking!

This Month:

  • April 15: Individual tax returns due / C corporation tax returns due / First-quarter 2019 estimated tax due
  • April 21: Easter Sunday
  • Other April 15 Deadlines: Six-month filing extension / 2018 gift taxes / 2018 IRA contributions / 2018 HSA contributions

Tax day is upon us! As we tie a bow on the first tax season using the new tax laws, here's a fun tax quiz you can use to impress your friends with some quirky state tax knowledge. This issue also includes handy metrics to track your business performance, tips to help you decide if you should buy or lease your next vehicle, and five big questions people are asking as the tax deadline approaches.

Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them.

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March 2019 DiSabatino, CPA Newsletter

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March 2019

In this issue:

  • Oh No! Your Tax Refund is Now a Bill
  • Hints to Eliminate Monthly Bill Creep
  • Businesses: File on Time or Pay the Price!
  • Candyland Getting Stale? Try These Board Game

This Month:

  • March 15th: Due date for Partnership & S Corp Tax Returns (Forms 1065, 1120S)
  • Reminders: Daylight Savings time begins Sunday, March 10th

  Tax season is in full swing. Early reports from the IRS indicate that, on average, refund amounts are down compared to last year. If this is you, the first article lays out some reasons for the change. This issue also includes a warning to business owners to file their taxes on time, tips to keep your monthly bills in check, and some exciting board games to try.

Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them.

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December 2018 DiSabatino, CPA Newsletter

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December 2018

In this issue:

This Month:

  • December 2: Hanukkah begins
  • December 25: Christmas Day
  • December 25: Kwanza begins
  • January 15: 4th Quarter Estimated Payments Due
  • Take final year-end actions: Deductible gifts, Capital gains/losses, Charitable giving, Dividend income

Happy holidays! Tis the season for family, friends, food, and of course ... last second tax moves! While time is running short, consider some of these moves you can make to cut your tax liability. Also, retirement contributions are rising for 2019. The second article lays out the changes for you.

Did you know that there are billions of dollars of unclaimed property each year? Read on to find out how to search for yours. Finally, there's an article explaining the new qualified business income deduction and what you can do to prepare for it.

Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to forward it to them.

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November 2018 DiSabatino, CPA Newsletter

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November 2018

In this issue:

  • 5 Annual Tax Essentials
  • Retirees Should Check Withholdings...or Else...
  • The IRS Loves Your Business ... and That is NOT Good
  • Turkey Trivia

This Month:

  • Sunday, Nov 11th: Veterans Day
  • Thursday, Nov 22nd: Thanksgiving
  • Friday, Nov 23rd: Black Friday (shopping deals day)
  • Monday, Nov 26th: Cyber Monday (online deals day)
  • Tuesday, Nov 27th: #GivingTuesday (charitable giving day)
  • Reminder: Conduct year-end tax and financial planning

It's November and the holiday season is upon us. With the end of the year less than two months away, now is the time to run down your annual year-end checklist. Before you dig in to some turkey and stuffing, check out the 5 Annual Tax Essentials article for some year-end tips you can use every year. Also included in this issue is a warning to retirees regarding their federal tax withholdings, an article detailing the areas the IRS scrutinizes a business during an audit, and some turkey trivia you can use to impress your friends.

Please call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to forward it to them.

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October 2018 DiSabatino, CPA Newsletter

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October 2018

  • Time to Launch Your Tax Strategy
  • Keys to Creating a Satifying Retirement 
  • Fraud? Negligence? Know the Difference!
  • Six Ideas to Help Your Business Survive & Thrive
  • Find Your Sleep Sweet Spot
  • Hustling for Extra Income 

This month:

  • October 1: SIMPLE IRA plan establishment due
  • October 15: Extended individual and C-corp tax filing deadline
  • October 31: Halloween 

    The leaves are starting to change colors and cool air is just around the corner. With the fourth quarter upon us, now is the time to finalize your tax plans before the busy holiday season arrives. Included here are some steps you can take to jumpstart the process for you. Also included are articles on how to create a satisfying retirement, how the IRS identifies tax fraud, and six ideas to keep your business successful. In addition, there are some practical ideas to help improve your sleep quality, and tax considerations for side income.

    Please call if you would like to discuss how any of this information relates to you. If you know someone who can benefit from this newsletter, feel free to forward it to them.

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September 2018 DiSabatino, CPA Newsletter

news header September 2018

This month:

  • September 3:
  • Labor Day
  • September 17:
  • 3rd quarter estimated tax due
  • Filing deadline for 2017 S corp and partnership returns that received extension
  • October 1: SIMPLE IRA plan establishment due
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August 2018 DiSabatino, CPA Newsletter

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August 2018

In this issue:

  • Student Loan Forgiveness Creates New Tax Trap
  • Ideas to Improve Your Financial Health
  • Dramatic Sales Tax Change
  • Are you Sharing Too Much Information Online?
  • Setting up Your Business Accounting System
  • Manage Capital Gains Tax Tip

This Month:

  • September 3: Labor Day

Summer is in full swing and the air conditioners are working overtime. Hopefully you are finding ways to stay cool while enjoying your outdoor activities. Included in this newsletter are articles about a new tax trap created by student loan forgiveness, tips to improve your financial situation and ideas to ensure that you are not sharing too much online. For your business, there are articles explaining "economic nexus" for sales tax and best practices for setting up your accounting system. Lastly, there are tips to help you manage your capital gains taxes.

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July 2018 DiSabatino, CPA Newsletter

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July 2018

In this issue:

  • Five Tax Breaks for New Parents
  • How Long Will It Last?
  • Planning to replace common items
  • Become Debt-Free
  • Is It Worth It to Amend Your Return?
  • Elements of a Good Business Partnership
  • Useful Online Productivity and Security Tools

This Month:

  • July 4: Independence Day

It's the height of summer, and hopefully you've had a chance to enjoy some pleasant weather and Fourth of July fireworks. This issue contains tips on tax breaks for new parents, deciding whether to amend a tax return, strategies for reducing debt, and budgeting for replacing major household items. There's also an article about creating a strong business partnership, and a review of some of the best online productivity and security tools.

Should you wish to review your situation please feel free to call. Also feel free to forward this newsletter to someone who may benefit.

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June 2018 DiSabatino, CPA Newsletter

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June 2018

In this issue:

  • Tax Planning Time
  • Six Home Ownership Tax Benefits
  • Unconventional Summer Vacation Ideas
  • Five Great Finance Tips Everyone Should Know
  • Overlooked Business Metrics
  • New! Small Business Medical Leave Credit

This Month:

  • June 15th: 2nd quarter estimated taxes due
  • June 15th: 2017 tax deadline for Americans living abroad
  • June 17th: Father's Day

Summer is the perfect time to schedule a tax planning session. Take a look at the lead article to learn why. Summer is also peak season for buying a home. There are tax breaks discussed in this issue that may make owning a home more affordable for you. Also inside is a review of some often overlooked summer vacation ideas, as well as some classic finance fundamentals everyone should know.

Should you wish to review your situation, please feel free to call. Also feel free to forward this newsletter to someone who may benefit.

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May 2018 DiSabatino, CPA Newsletter

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May 2018

In this issue:

  • Tax Cuts and Jobs Act Update
  • Handling Health Care Coverage Gaps
  • Protect Yourself From Port-Out Scams
  • Managing Money Tips for Couples

This Month:

  • May 13th: Mother's Day
  • May 28th: Memorial Day

Now that the 2017 tax filing season is over, it's time to start adapting to some of the momentous tax changes passed last year. This issue provides an update on the latest news affecting 2018 taxes, as well as a guide to the (still intact) IRS penalties for gaps in health care coverage. There's an article about managing money with your significant other, and also an update about the latest identity theft "port-out" scam.

If you wish to review your situation, call at any time. Also feel free to forward this newsletter to someone who may benefit.

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April 2018 DiSabatino, CPA Newsletter

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April 2018

In this issue:

  • Tax Quiz: So You Think Our Taxes Are Crazy?
  • Know the Top IRS Tax Scams
  • When an Extension May Make Sense
  • Win the Battle Against Retirement Health Care Costs

This Month:

  • April 17th: 2017 Individual federal tax returns due
  • April 17th: First-quarter 2018 estimated tax due
  • April 1st: Easter Sunday
  • Other April 17 Deadlines:
    - Six Month Filing Extension
    - 2017 Gift Taxes
    - 2017 IRA Contributions

Happy tax filing month! To help celebrate, this month's newsletter includes a quiz on strange tax laws from around the world. Also included are some tips for using your refund check as well as advice on handling spiraling health care costs during retirement. Should you wish to review your situation please feel free to call. Also feel free to forward this newsletter to someone who may benefit.

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