(203) 248-8600

Laura@ccotax.com

Caiafa & Company, LLC

Professionals Who Account for You

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Tax planning & preparation can be challenging for everyone. Let us handle that work for you. Read more here.

375 Mather St. Ste. 6
Hamden, CT 06514

 

tel: 203-248-8600

fax: 203-774-1151

Tax and Accounting Services

We offer a full spectrum of services aimed at making your life easy.Learn more today.

Tax Preparation Services

at Caiafa & Company, LLC

The Source for Tax & CPA Services throughout the Milford, New Haven & Branford, CT Areas

 

At Caiafa & Company, LLC, we specialize in CPA services, tax services, business tax planning, business accounting, and more. Our professional team can offer you both personal and business services. Just ask us how we can help you today.

Besides traditional tax preparation, we also specialize in IRS audit-representation, wage garnishment, back taxes and more. Explore our website today to learn more about our available tax and CPA services and our client-focused team.

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Oh No! Your Tax Refund is Now a Bill

Many taxpayers start preparing their tax return with hopes of receiving a sizable refund, only to find out that their actual refund is much smaller than expected — or that they actually owe the federal government money instead! If this happens to you, here are some of the likely reasons:
• Higher take-home pay. Look at last year's W-2 and see how much was withheld for federal income tax. Now check this year's W-2. If it is lower, you will need a corresponding reduction in your tax obligation to get the same refund as last year. The good news? You've had more of your income available to you throughout the year. The bad news? Paying less tax each pay period can result in a lower refund or even a tax due balance at tax filing time.
• Withholding tables are not always accurate. The IRS provides businesses with tax tables to figure out how much of your paycheck should be withheld to pay your taxes. While these tables are mostly accurate, sometimes these tables instruct your employer to withhold more than necessary — leading to a refund. But sometimes the opposite is true and your employer may not withhold enough — leading to a balance due.
• You earned money from a side hustle. You are responsible for making payments to the IRS for taxes you owe from working a side hustle or as a freelancer. If you didn't make these payments to the IRS as you were earning the money throughout the year, you'll have to make a lump-sum payment when you file your tax return.
• Your state takes a different path. Tax laws passed by many states closely mirror tax laws passed by the federal government. But many times these laws never match 100%. This means that while you may see a refund on your federal tax return, you might end up owing money on your state tax return.
With the uncertainty of whether or not you'll receive as large of a refund as you're expecting, consider holding off on plans to spend your refund until your tax return is finalized.

#Withholding #higherpay #StateIncomeTax
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Oh No! Your Tax Refund is Now a Bill

Many taxpayers start preparing their tax return with hopes of receiving a sizable refund, only to find out that their actual refund is much smaller than expected — or that they actually owe the federal government money instead! If this happens to you, here are some of the likely reasons:
• Higher take-home pay. Look at last years W-2 and see how much was withheld for federal income tax. Now check this years W-2. If it is lower, you will need a corresponding reduction in your tax obligation to get the same refund as last year. The good news? Youve had more of your income available to you throughout the year. The bad news? Paying less tax each pay period can result in a lower refund or even a tax due balance at tax filing time.
• Withholding tables are not always accurate. The IRS provides businesses with tax tables to figure out how much of your paycheck should be withheld to pay your taxes. While these tables are mostly accurate, sometimes these tables instruct your employer to withhold more than necessary — leading to a refund. But sometimes the opposite is true and your employer may not withhold enough — leading to a balance due.
• You earned money from a side hustle. You are responsible for making payments to the IRS for taxes you owe from working a side hustle or as a freelancer. If you didnt make these payments to the IRS as you were earning the money throughout the year, youll have to make a lump-sum payment when you file your tax return.
• Your state takes a different path. Tax laws passed by many states closely mirror tax laws passed by the federal government. But many times these laws never match 100%. This means that while you may see a refund on your federal tax return, you might end up owing money on your state tax return.
With the uncertainty of whether or not youll receive as large of a refund as youre expecting, consider holding off on plans to spend your refund until your tax return is finalized.

#Withholding #HigherPay #StateIncomeTax

Professionals Who Account For You

Although we provide a wide range of traditional tax services for both business and individual clients, we specialize in negotiating with the IRS on your behalf and navigating through complicated IRS correspondence, estate and gift tax services, as well as financial planning. Trust us with all your tax concerns. Proudly serving the Branford, Milford, and New Haven, CT communities.

  • Individual Tax Services

    We can offer you personal tax preparation services including individual filing and tax planning. The advisers at our Hamden, CT and Madison offices will recommend the best practices for filing your individual tax return and help assist you through every step of the process. Filing your taxes will be smooth sailing with the help of our certified tax service professionals!

  • Business Tax and
    Accounting Services

    Our certified business accounting team provides resources for businesses such as tax preparation services, tax planning, small business accounting, financial statements, strategic business planning, and new business formation. We also offer QuickBooks services including setup and training. With the help of our business tax advisers, your business will be ready for quarterly reports, year-end taxes, and you will stay financially informed.

  • Specialized Tax Services

    Besides traditional tax preparation services we can also help you with several other services to help make financial planning easier for you or your business. We are prepared to negotiate with the IRS on your behalf regarding IRS audits, liens and levies, wage garnishment, offers in compromise, innocent spouse relief, and installment plans. Our expert team can also be of assistance with non-filed tax returns, owed back taxes, and payroll tax problems. Don’t be intimidated by that dreaded IRS letter. Let our tax service team make things easy for you.

Begin

Planning Today

Check out our Resource Library to begin your tax preparations today. Then, give us a call to begin securing a wealthier financial future for you or your business.

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Each month, we will give you tips and useful information to help you protect your finances, begin planning on ways to save for your future, or how to begin preparing your taxes. Our goal is to help you get the information you need for a financially savvy today and tomorrow. So sign up for our monthly client newsletter today to stay up-to-date with news from our office and to receive special offers from our team.

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