Certified Public Accountants
511 Congress St., Suite 900
Portland, Maine 04101
207-774-0882 - info@honeckotoole.com
Whether you’re a Baby Boomer close to retirement, are already retired, are just starting to plan ahead for retirement, or you’re helping a retired parent deal with money issues, consider this a friendly wake-up call: your financial comfort during the senior years depends on careful planning and consideration of your total financial picture now. Savings…
Who said, “We make a living by what we get, we make a life by what we give”? If you knew it was Sir Winston Churchill, pat yourself on the back. His message is still quite relevant today as many of us question how we can help others in need. And whether you’d like to…
Each year, major security breaches affect millions of people throughout the nation, including here in Maine. For example, a lost computer tape that contains their personal information possibly affected about 188,000 student loan customers nationwide of Nelnet, Inc. At Ohio University, the Chief Information Officer resigned and its director of computing and network services was…
We’re always looking for ways to help you save money. That’s why we compiled 25 tax-saving tips to help you reduce your tax burden and begin your planning for next year. The following list includes ideas for individuals and small-business owners, so be sure to read the entire list (#28 is our favorite for self-employed…
Our clients often ask us—“What’s the best way for me to save for retirement?” and, “How can I ever afford to retire?” With careful planning and a financial commitment, you really can build enough wealth for your retirement years. We understand that choosing the right retirement plan(s) can be daunting—whether you’re employed by a company,…
You might be fascinated by the following information about the IRS. Yes…fascinated! The roots of the Internal Revenue Service (IRS) go back to the Civil War when President Lincoln and Congress, in 1862, created the position of commissioner of Internal Revenue and enacted an income tax to pay war expenses. The income tax was repealed…
These simple steps can save you time and energy each tax season, and maybe even help you avoid some unpleasant surprises. 1. Organize now to reduce work and stress down the road. We know it’s not always fun to pull together your tax information for us each year. So here’s an idea that may help.…
Test your knowledge about deducting expenses on your individual or business tax return. Your prize if you know the correct answers? You might pay fewer taxes! As you keep track of your various tax deductions throughout the year, you really want to be sure which items are allowable…and at what percentage or amount? You may…
Freelancers, consultants, “work for hire” specialists, home-based and other workers are sometimes confused about whether the IRS sees them as an employee or an independent contractor when it comes to the arrangements they made with the companies paying them for their work. The IRS rules can be unclear and easily misinterpreted by workers and companies.…
Yes – we may be in a recession and the media will certainly let you know it on a daily basis. But your trusted Honeck-O’Toole team is here to calm your fears, help you look at the bright side, and give you some practical tips on how to take charge and be proactive so you…