Accounting and Auditing Services

Timely and accurate financial statements are essential to any business owner.  More critically is how this information is used.  We work with you to interpret these figures and help you identify opportunities, possible problems, and potential adjustments along the way.

The partners and staff at Borgida & Company, P.C. has the benefit of many years of experience in a wide variety of industries.  Our goal is to achieve a greater understanding of your particular business and function as your business advisor, providing specific recommendations designed to improve your organization.  We strive to look beyond your bottom line.

Some of the services we perform are:

• Audit, review, and compilation financial statement reports
• Special purpose financial presentations
• Personal financial statement preparation
• Agreed upon procedures engagements
• Assistance with loan and financial aid applications
• Internal procedures and control design
• Tax planning services

Let us tailor our accounting and auditing services to best suit your needs so that we may achieve the status of your trusted business advisor.

If you have a question regarding our accounting and auditing services, call Peter Bartolotta at 860-646-2465 or email PeterB@Borgidacpas.com

Tax Planning and Tax Preparation

Judge Learned Hand said, “Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes.  Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible.  Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.” 

Listen to the Judge, he knows what he’s talking about.  The tax code provides certain incentives.  Our mission is to find those incentives that will help you.  We work with corporations, partnerships, LLC’s and individuals to help them with their tax planning and preparation. 

Our individual clients rely on us to handle their complex tax matters.  Most of our individual clients have some of the following situations:

• Small business owner with a Sole Proprietorship or LLC.
• Owning rental real estate.
• Un-reimbursed employee business expenses.
• Must file in multiple states.
• Have employee stock options.
• Have significant securities transactions. 
• Are beneficiaries of trusts or are active in Partnerships, LLC’s or Subchapter S corporations.

If, unfortunately, you are audited by the Internal Revenue Service, Connecticut Department of Revenue Services or the Massachusetts Department of Revenue we can represent you before these taxing authorities.

Estate and Trust Services

When someone passes away it can be a stressful time.  To make this difficult time a little less challenging for your heirs you will need to do the proper planning.  We can work with your estate planning attorney to see that your plans are put into place.  The primary purpose of a properly structured estate plan is to carry out the wishes of the decedent in the most tax efficient manner.  Designing an effective estate plan is very challenging now due to the constantly evolving tax laws and the high divorce and remarriage rate.  To get started with your estate plan you’ll need to ask yourself some questions:

• Who will be your executor or executrix?
• Who gets your property and when will they get it?
• Who will be the guardian of your minor children?
• Will they also be responsible for their finances?
• Who will be the trustee of your trust?
• How much are the estate taxes estimated to be?
• How much life insurance do you need?

These may or may not be easy questions to answer.  The good news is as long as you’re still around and legally competent, you can always change your mind.  In our experience married couples seem to get hung up on the guardian of their minor children and selecting the trustee of their trust.  

Unfortunately if the time comes and you are the executor or executrix of your spouse, parents or anyone else’s estate, give us a call.  We will show you what the process is and can work closely with you and your estate planning attorney to make this go as smooth as possible.  

If you have a question regarding estates and trusts call Tom Scanlon at 860-646-2465 or email TomS@Borgidacpas.com

QuickBooks® Consulting 

QuickBooks Software is one of the more popular software packages used by small business owners.  In our experience the success of using this software is based on whether the program was initially set up properly and if the bookkeeper has been trained appropriately.  Let our Certified QuickBooks Professional Advisor staff consult with you to make this software work the way it should.  Our staff is familiar with this software as many of our clients use this program and we are available to support your needs.  Some questions to ask are:  

• Is your bank balance correct?
• Did you know that you can download your monthly credit card statements?
• Is your version of QuickBooks the right one for your company?
• Are you still processing your payroll by hand?
• And writing those checks out manually?

Let us determined which industry version of QuickBooks is most appropriate for your business and help you simplify your everyday tasks. 

If you have a question regarding QuickBooks call Gail Lennox at 860-646-2465 or email Gaill@Borgidacpas.com

Payroll Processing Services "Paymaster"

One task that many small business owners outsource is their payroll processing.  Many have found they just don’t have the time or expertise to keep up with the constantly evolving payroll tax laws.  We have been preparing many of our clients’ payrolls now for well over a decade.  Our clients appreciate that when they have a question or an issue arises they don’t have to dial an 800 number and speak to someone they don’t know.  They simply pick up the phone or stop in and speak to the staff that’s been working with them all along.   

The process is very easy.  Once everything is set up, simply call, fax or e-mail over your employees’ hours and we take care of the rest.  We produce the paychecks (or make direct deposit) and prepare all of the quarterly and annual payroll reports.  It really is just that simple!

If you have a question regarding payroll call Karen Tedford at 860-646-2465 or email Karent@Borgidacpas.com