Labor Tax Updates By Emelia Mensa EA, CPA, CGMA

Everything about this year since March has just felt a little … off. And I mean aside from all of the cultural and political turmoil we’re living through. The seasonality of everything feels different too. Pro sports are out of sync, “back to school” season surely doesn’t feel normal (at least for most of my clients), and even something like … Read More

Emelia MensaLabor Tax Updates By Emelia Mensa EA, CPA, CGMA

How Connecticut Taxpayers Can Lower Their 2020 Tax Bill

Finally, the IRS issued guidance on Friday evening about payroll tax deferrals. And, as we’ve been communicating … this may not be a very helpful program for most taxpayers. In fact, it’s actually up to employers (not employees) whether or not to withhold Social Security payroll taxes from their employees’ paychecks from September through December. And again — this is … Read More

Emelia MensaHow Connecticut Taxpayers Can Lower Their 2020 Tax Bill

Controlling Your Tax And Financial Strategy In The Midst Of Chaos By Emelia Mensa EA, CPA, CGMA

Still no guidance from the IRS about the payroll tax “holiday” (deferral), so it’s extremely unlikely that your employer will be ready — simply because the major payroll companies (Paychex, ADP, Gusto, and many others) don’t have the answers to many questions. Implementing these kinds of “optional” changes is hard. For example, payroll companies would have to recalculate the payroll … Read More

Emelia MensaControlling Your Tax And Financial Strategy In The Midst Of Chaos By Emelia Mensa EA, CPA, CGMA

How To Ensure Connecticut Families Are Prepared For Chaos

Summer is nearing an end, but this has been no ordinary summer. Everywhere, parents are scrambling in the most unusual “back to school” season in memory. Fall sports are in limbo, and others (MLB, NHL, NBA) are operating in a weird Twilight Zone mode. Urban centers are shells of themselves, violence is rising, and this virus is still making its … Read More

Emelia MensaHow To Ensure Connecticut Families Are Prepared For Chaos

Truth and Fiction About the Trump Payroll Tax Cuts For Connecticut Taxpayers

Right now we’re living through an age in which media trust has been thoroughly decimated. “Expert” authority itself is being questioned (in many cases, rightly), and misinformation is rampant. That’s perhaps one of the reasons I’ve received so many visits to this website over the past six months from taxpayers. Not that I’m “better” than the panoply of public figures … Read More

Emelia MensaTruth and Fiction About the Trump Payroll Tax Cuts For Connecticut Taxpayers

Now Is The Time For An Estate Plan For Connecticut Taxpayers

Right now, it’s almost impossible to escape the conflict, the noise, and the shaming over various cultural decisions we’re having to make. Lockdowns, schooling, more economic stimulus, elections, vaccines — it’s all enough to drive you crazy if you pay close attention. And here at Emelia Mensa, CPA, because we get to serve families and individuals from every point along … Read More

Emelia MensaNow Is The Time For An Estate Plan For Connecticut Taxpayers

Emelia Mensa EA, CPA, CGMA’s Guiding Principles For Teaching Kids About Money

However you slice it, the schooling situation right now is tough, with no good options. If you are vehemently in favor of full-on school … well, compassion would dictate that you would recognize that others are having more difficulty with that, for caution’s sake or for whatever other reason. Compassion doesn’t mean bullying, as I recall. And if you are … Read More

Emelia MensaEmelia Mensa EA, CPA, CGMA’s Guiding Principles For Teaching Kids About Money

A Strategy For Connecticut Taxpayers With A Higher Than Expected Tax Bill

Taking a look around the world these days, and where things seem to be headed… But our heads are high here at Emelia Mensa CPA because we worked our tails off for our clients this year. We helped a bunch of people save a ton on their taxes — with deductions and strategies they wouldn’t have used had they not … Read More

Emelia MensaA Strategy For Connecticut Taxpayers With A Higher Than Expected Tax Bill

Reflections On The Extended Tax Season By A Local Connecticut Tax Professional

I remember at the end of April 2019 that I felt like it had been one of the wildest tax seasons in memory. The TCJA (“Trump Tax Code”) had thrown a ton of curveballs our way, and we were looking forward to implementing tax planning strategies for our clients with an entire year under our belts. And we did, and … Read More

Emelia MensaReflections On The Extended Tax Season By A Local Connecticut Tax Professional

The End of Tax Season, Estimated Taxes, And Unemployment Compensation by Emelia Mensa EA, CPA, CGMA

I’m still emotionally adjusting to the fact that we just went through 4th of July weekend … and “tax season” is STILL GOING. I’m thankful for it, because I also know that extending the deadline during this wild, intensely difficult year (for so many) was a rare offering of grace from the IRS for taxpayers. Even if it has disrupted … Read More

Emelia MensaThe End of Tax Season, Estimated Taxes, And Unemployment Compensation by Emelia Mensa EA, CPA, CGMA