O'Brien Shortle Reynolds & Sabotka, PC
Certified Public Accountants in Rutland, VT
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Accounting & Audit
Accounting & Audit Services
You need reliable information to make confident decisions. Trust us to provide accurate information on a timely basis with our complete range of accounting, auditing and business advisory services, including:
Maintaining accounting and sales records
Financial statement preparation
Cash flow statements
General ledgers, and
Balance sheets
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Tax Planning & Preparation
Tax Planning & Preparation Services
Current tax laws are not only extremely complex, but as they continuously change they become even more difficult to keep up with while meeting the day-to-day demands of running your business. Our tax planning professionals create strategies to take advantage of new tax laws and legislation to minimize your current and future tax liabilities.
We provide
complete
tax preparation services for:
Individuals & Families
Corporations
Partnerships
Trusts
Estates
Not-for-Profit Organizations
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Financial Planning
Financial Planning
The world of increasing options makes it challenging to understand and make good choices for safely investing your hard-earned money and other assets for your future. Our advisors make the job easier by helping you make informed choices about your investments, your taxes and your future. Including:
Family Wealth & Estate Planning
Education Planning
Retirement Planning, and
Risk Management
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Accounting for Condos & HOAs
Compliance & Reporting for Condos and HOAs
We are certified compliance and reporting experts in the complexities associated with today’s condominium and homeowner associations including Form 5500 for homeowner associations. Our services include:
Monthly bookkeeping
Payroll and payroll tax preparation
Billing for association dues, and collections.
Compile, review, audit, and file annual financial statements
Prepare tax returns, and offer
Tax advisory services
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Expert Witness Services
Litigation Support & Expert Witnesses
We provide litigation support and expert witness testimony for business valuation matters. Whether a general business valuation, divorce settlement, or some other economic related issue, we can provide expert witness and consulting services — in and out of the courtroom.
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Certified QuickBooks
®
ProAdvisors
Certified QuickBooks
®
ProAdvisors
As Certified QuickBooks ProAdvisors we help businesses get the most out of their QuickBooks software. We provide a wide range of services including:
QuickBooks setup
Training
Payroll
Consulting
We also provide QuickBooks support to in-house bookkeepers through our QuickBooks Certified experts.
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Resources
Tax Center
Tax Center
We have assembled a wide range of links to to provides you with tools and information to complement our tax services.
Track your tax refund
Find useful calculators
Stay current on the latest tax issues affecting individuals and businesses.
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Tax Planning Guide
Tax Planning Guide
Recent tax reform has provided significant savings to individuals, families, investors and businesses. But, many of the opportunities are temporary. To help you make the most of the current tax breaks, our tax guide offers tips for minimizing your tax liabilities and maximizing your potential saving.
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2022-2023 Tax Planning Guide
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Insights & Perspective
Why you might want to file early and answers to other tax season questions
The IRS opened the 2023 individual income tax return filing season on Jan. 23. Even if you usually don’t file until closer to the mid-April deadline (or you file an extension), you may want to file early. It can potentially protect you from tax identity theft. In these scams, a thief uses another person’s personal information to file a fraudulent return early in the filing season and claim a bogus refund. Another benefit of early filing is that if you’re getting a refund, you’ll get it sooner. This year, the filing deadline to submit 2022 returns, file an extension and pay tax owed is April 18 for most taxpayers. If you’re requesting an extension, you’ll have until Oct. 16 to file.
Tax-saving ways to help pay for college — once your child starts attending
If you have a child or grandchild in college, there are tax breaks you may be able to claim after the child begins attending. For example, you can take the American Opportunity Tax Credit of up to $2,500 per student for the first four years of college, a 100% credit for the first $2,000 in tuition, fees, and books, and a 25% credit for the second $2,000. You can take a Lifetime Learning Credit of up to $2,000 per family for every additional year of college or graduate school — a 20% credit for up to $10,000 in tuition and fees. Both credits are phased out for married joint filers with modified adjusted gross income between $160,000 and $180,000, and for singles between $80,000 and $90,000.
Tax-wise ways to save for college
If you’re a parent with college-bound children, you may want to save for future college costs. There may be tax-favored ways to save. For example, 529 plans allow you to make contributions to an account set up to meet a child’s education expenses. Contributions aren’t deductible and are treated as taxable gifts to the child. But they’re eligible for the $17,000 annual gift tax exclusion in 2023. A donor who contributes more than the annual exclusion limit for the year can elect to treat the gift as if it were spread out over a 5-year period. Distributions of earnings that aren’t used for qualified expenses are subject to income tax plus a 10% penalty. Other rules apply.
SECURE 2.0 law may make you more secure in retirement
The SECURE 2.0 Act, which was signed into law on Dec. 29, 2022, will help many Americans save more for retirement. However, many of the provisions don’t kick in for a few years. One provision that does take effect this year is an increase in the age for beginning required minimum distributions (RMDs). Employer-sponsored qualified retirement plans, traditional IRAs and individual retirement annuities are subject to RMD rules. They require that benefits start being distributed by the required beginning date. Under the new law, the required age used to determine distributions increases from age 72 to age 73 starting on Jan. 1, 2023. It will then increase to age 75 starting on Jan. 1, 2033.
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Monday
9:00 am - 5:00 pm
Tuesday
9:00 am - 5:00 pm
Wednesday
9:00 am - 5:00 pm
Thursday
9:00 am - 5:00 pm
Friday
9:00 am - 5:00 pm
Saturday
Closed
Sunday
Closed
(802) 773-8344
(802) 773-6351
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Year-end giving to charity or loved ones
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year end donations
year end donations
By
kasia
on
November 29, 2022
in
Year-end giving to charity or loved ones
