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Take an Extra Step this Year

Tax filing time provides an excellent opportunity to do this review since you’ll have your records out for tax filing.

As part of gathering the information you’ll need to file your 2013 tax return, take a little extra time to review your current financial situation and the progress you’re making toward your financial goals. Tax filing time provides an excellent opportunity to do this review since you’ll have your records out for tax filing.
 
Here are suggestions to get you started on your review.
  • First, make a list of everything you own (assets) and everything you owe (liabilities). Alongside each asset, write a reasonable estimate of its fair market value and the form of ownership. Verify the exact amount of each liability and record it. Subtract what you owe from what you own, and you will have your net worth. Compare your net worth to last year’s figure if you have it. Are you gaining or losing ground?
  • Second, write down your financial goals and the amount of money you’ll need to reach each one. With those goals in mind, review the performance of your investments. 
  • Third, check your insurance coverage to be sure you are neither over-insured or under-insured.
  • Fourth, Review your will and your estate plan. Did your situation change during 2013 (marriage, divorce, births, deaths, move to another state, for example)? This year the top estate tax rate is 40%, and the amount exempt from federal estate tax is $5,340,000. Make any necessary changes to your will and estate plan.
  • Fifth, review your credit use. Keep your credit card bills current. If you’re finding that hard to do, it’s probably time to cut up some of those credit cards and get your debt under control.
 
Finally, if you have trouble assembling information for this financial review, you probably need a better recordkeeping system. For help with any of this, call us. We’re here to assist you in any way we can.
October 25, 2024
Burzenski & Company once again supported an event at the Children's Center in Hamden. On October 24, three employees volunteered to be onsite for the Children's Center Trunk or Treat Halloween event. Callie Kutys, Shelly Panico and Carmen Rosado donned costumes and handed out candy to about 100 children. Booooooooo!
October 11, 2024
IR-2024-263, Oct. 10, 2024 WASHINGTON —The Internal Revenue Service announced today continued progress on Employee Retention Credit claims, with processing underway on about 400,000 claims, representing about $10 billion of eligible claims.
October 5, 2024
Monica Dixon Perry, CVPM, will speak at Veterinary Management Council of CT meeting
October 5, 2024
IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing season
September 5, 2024
On Thursday, August 29th, we held our annual state-of-the-firm and company picnic at Owenego Inn located in Branford, CT. The firm recognized the 40th employee anniversary of Partner Melody Mann Fox, CPA. Managing Partner Bill Kalinowski congratulated Melody on her tenure and accomplishments with the firm. Said Ralph L. Ricciardelli, CPA, Emeritus, a founding partner of Burzenski & Company, PC, “Mel, 40 years where does the time go? It’s not easy to build a firm and you’ve done it with a lot of grit, expertise, and professionalism. You have been integral in building the firm. You’ve been integral in helping with the staff, whether it was the administrative staff or the accounting staff. I don’t know what we would do without you. There aren’t enough words of appreciation that we can give to you.” It was a great day for employeea to play games such as bocce, corn hole, Jenga, and a trivia contest with staff split up into teams.
September 1, 2024
At the firm's annual state-of-the-firm and company picnic on August 29th, we recognized the 40th employee anniversary of Partner Melody Mann Fox, CPA. Managing Partner Bill Kalinowski congratulated Melody on her tenure and accomplishments with the firm. Said Ralph L. Ricciardelli, CPA, Emeritus, a founding partner of Burzenski & Company, PC, “Mel, 40 years where does the time go? It’s not easy to build a firm and you’ve done it with a lot of grit, expertise, and professionalism. You have been integral in building the firm. You’ve been integral in helping with the staff, whether it was the administrative staff or the accounting staff. I don’t know what we would do without you. There aren’t enough words of appreciation that we can give to you.”Mel, 40 years where does the time go? I remember when you first came to us in 1984 as a staff person. Our first tax season together was 1985. There was a lot of fun things that happened during those early years that laid the ground work for the future.
August 18, 2024
2024 Connecticut Sales Tax Free Week Highlights The 2024 Sales Tax Free Week is Sunday, August 18, through Saturday, August 24, 2024. Sales or purchases of certain items of clothing or footwear costing less than $100 per item are exempt from sales tax. This special exemption applies to purchases made from retailers located in Connecticut as well as from on-line retailers. This year will be Connecticut's 25th Sales Tax Free Week.https://portal.ct.gov/drs/sales-tax/sales-tax-free-week
July 22, 2024
Sarah Williams, formerly of Abilene, TX, has joined the staff at Burzenski & Company, as a Staff Accountant. She earned a Bachelor of Business Administration degree as well as a Master of Accountancy degree from Abilene Christian University in Abilene, TX. Prior to joining our firm, she was as a Tax Associate. She has two cats named Fig and Peach.
July 19, 2024
Burzenski & Company, PC will close the office on Fridays at 12:00 (noon) in the months of July and August. Please contact us during our normal business hours of 8:30AM to 5:00PM. 203-468-8133
May 7, 2024
Click here to listen to the podcast: https://www.buzzsprout.com/536560/15017840
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