CPN Accounting

06/04/2026

If you are in Massachusetts and are selling your house, there is a new withholding tax that was implemented in Nov 2025. It is requiring sellers to put aside a withholding amount on the proceeds of the home if the home sells for more than $1 million.

Technically it is supposed to apply to owners of property that live outside of MA and those moving out of MA, but every seller should be aware of it.

Consult an accountant before submitting this Transferor Certificate as the form on the surface can be misleading. Most taxpayers would not likely have to pay 4% in tax on the sale of a property especially if it is a primary residence. Even if you are selling a second home, there are still cost factors to consider.

06/04/2026

Now taxpayers can elect the savings accounts for their children right through their own IRS logon. It is great way for your children to receive free money to start their savings.

New features in Individual Accounts allow you to view and submit Trump Account elections, making it easier than ever to invest in these tax-advantaged accounts. You can use your IRS Individual Account to submit Form 4547, Trump Account Election(s), and view its submission status. For more info, read: https://ow.ly/jpse50Z5ISc

05/08/2026

If you are unsure whether an IRS notice is legit, I always advise my clients to log into their IRS account and check for notices or messages there first. However, as the article mentions the IRS is doing away with paper check refunds and will require an account be submitted when claiming a refund.

Taxpayers and practitioners are unsure whether the CP53E notices they have received are scams or simply sent in error, a confusion heightened by the inclusion of a QR code.

11/29/2025

What are quarterly estimates?

Quarterly estimates are taxes paid to the IRS and to the state your business operates in. The best way to describe quarterlies is to take the example of a paycheck earner (W-2 employee). The employee receives a check from the company for their work less the taxes the company has withheld from the check. The company takes the amounts that are withheld and sends them to the IRS and state each quarter. The agencies are receiving the money throughout the year, not just in April. So of course, they want small business money throughout the year as well, hence the reasoning behind quarterly estimates.

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11/29/2025

Good news for taxpayers that have been filing on time.

During a session at the AICPA National Tax Conference, the national taxpayer advocate said the IRS will start applying first-time abatements automatically next year.

10/30/2025

It’s Q4 and this is the perfect time of the year to get your finances and your taxes organized.

Take look at your revenue, total your expenses, and get a sense of where your profits will end up this year. You still have time to make purchases and lower your tax liability. Or set up a retirement fund that will also give your business a tax break.

You also should be seeking a professional now if you need one for next year. Most of us will be booked by year end for new clients.

So if you need help or have questions, please feel free to reach out or book a free call at www.cpnaccounting.com

We believe in a personalized service and aim to make the process as easy as taxes can be.

09/26/2025

If it seems too good to be true, it probably is.

Everyone wants tax savings, but at what expense.

Don't believe a lot of what you see on social media.

The IRS is warning taxpayers of two social media tax “tips” in particular.

09/11/2025

When you file your tax return especially with a professional, you will usually receive estimated tax payments to make for the next year.

But those estimates are only based off of the same exact income, deductions, and other factors that happened in the prior year.

How many of your businesses are exactly the same year after year? Ideally you are in growth mode and making more so you need to meet with a professional and tax plan throughout the year.

There may be new tax strategies you are not even taking advantage of. Just for 2025 alone there are several tax changes.

While we may never be free of taxes, there are ways to plan and minimize where you can so you are not caught off guard come April.

04/18/2025

If you missed the April 15 tax deadline, you can avoid accruing penalties and interest by filing now and paying as much of the taxes you owe as soon as you can. www.irs.gov/payments

03/26/2025

I am so grateful and humbled to be nominated as Best Accountant for the second year in a row. I'm coming up for air from taxes for a few minutes to post this.

I had no idea how much one community could grow my business, but I have found it in B*W.

I have met so many amazing women entrepreneurs that I can now happily call my clients.

Please take a few minutes to vote for me and other amazing women nominees.
✨VOTE HERE: https://bostonbusinesswomen.com/the-boston-business-women-awards/