November 2023

Dear Friends,

HAPPY NEW YEAR!!! Let me be the first to say it. 2023 is almost gone. I hope it was a good year for you and your family. I also hope 2024 will be better. No major tax changes, but I am again listing my suggestions for potentially lowering your tax bill:

• Postpone income into next year, if possible, to reduce taxes.
• Pay expenses before the end of the year to accelerate deductions.
• Purchase equipment to take advantage of BONUS Depreciation.
• Maximize your retirement contribution.
• Write off obsolete inventory.
• Consider putting your children on payroll.

*IMPORTANT* most of you have filed for or received your EMPLOYEE RETENTION CREDIT. If you have not, call us immediately.

Last year we were able to help many clients with financial, retirement, insurance, and estate planning. Give us a call to find out how we can help you. We also have over 200 clients in various retail, wholesale, and service industries. Network with us. Call if you need anything.

Thinking about rolling over your 401(k) or 403 (b) retirement plans? We can help, call us. Remember, the IRS will never call you on the phone or email you. If someone contacts you this way, and says they are the IRS, it is most likely a scam. Hang up and call us.

Over the past year, we have upgraded our client portal. This will allow us to securely exchange documents with our clients. If you would like to work directly with us through this option, please email julie@ajmascherinocpa.com and she will set you up with a direct link.

Once again, I want to thank you for your continued trust in me and my “wonderful staff”, (that’s what they call themselves, I never disagree with them) Julie, Kim, Maryellen, Stacey, Phil, and Anthony Jr.. We really appreciate it and never take it for granted. Have a very Merry Christmas and a prosperous New Year.

Warmest regards,
Anthony J. Mascherino