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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2021-2022 Tax Planning Guide
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Tax Planning Guide
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Careers
Insights & Perspective
Strategies for investors to cut taxes as year-end approaches
As year-end approaches, you may want to make some moves to make the best tax use of paper losses and actual losses from your stock market investments. For example, have you realized gains earlier in 2022 from sales of stock held for more than one year (long-term capital gains) or from sales of stock held for one year or less (short-term capital gains)? Take a close look at your portfolio and consider selling some losers — those shares that now show a paper loss. Sell enough losers to generate losses to offset your earlier gains plus an additional $3,000 loss. Selling to produce this loss is a tax-smart idea because a $3,000 loss can offset the same amount of ordinary income each year.
Year-end giving to charity or loved ones
The holiday season is here and many people plan to donate to their favorite charities before the end of the year. In 2022, in order to receive a charitable donation write-off, you must itemize deductions on your tax return. What if you want to give gifts of investments? Don’t give away stock in taxable accounts that is currently worth less than what you paid for it. Instead, sell the shares and claim the loss on your tax return. Then, give the proceeds from the sale to charity. Plus, if you itemize, you can claim a full tax-saving charitable deduction. Contact us if you have questions about taxes and any gifts you want to make.
How savings bonds are taxed
If you own savings bonds, you may wonder: How is the interest taxed? EE bonds don’t pay interest currently. Instead, accrued interest is reflected in their redemption value. (But owners can elect to have interest taxed annually.) Series I savings bond interest is based on inflation. Series I bond owners may either: 1) Defer reporting the increase in the redemption (interest) to the year of final maturity, redemption or other disposition (whichever is earlier) or 2) elect to report the increase each year as it accrues. Savings bond interest isn’t subject to state income tax. And using the money for higher education may keep you from paying federal tax on the interest. Questions? Contact us.
Adopting a child? Bring home a tax break too
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents can claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each eligible child. This will increase to $15,950 in 2023. That’s a dollar-for-dollar reduction of tax. Also, parents may be able to exclude from gross income up to $14,890 in 2022 ($15,950 in 2023) of qualified expenses paid by an employer under an adoption assistance program. Both the credit and the exclusion are phased out if the parents’ income exceeds certain limits. Parents can claim both a credit and an exclusion for expenses of adopting a child but not for the same expenses.
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Contact
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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Dividends
Dividends
Qualified dividends are taxed at the same rates as long-term capital gains.
Supporting Your Parents
Tax Strategies To Protect Your Future
