Peter A Norton, CPA, PC

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It’s time to take control of your tax bill! As the year winds down, smart businesses ramp up tax planning. The 4th quart...
10/08/2025

It’s time to take control of your tax bill! As the year winds down, smart businesses ramp up tax planning. The 4th quarter is your chance to make moves to lower your 2025 tax bill. For example, buy qualifying equipment and put it into service before year-end to take advantage of depreciation deductions, which due to recent tax law changes are now even better. Accelerate or defer income depending on your projected tax bracket for this year and next. These are only a couple of the strategic steps you can take. Contact us at (508) 624-5534 to schedule a year-end tax planning session.

If you're in a dispute with the IRS, mediation — also called “alternative dispute resolution” — may be a helpful option....
10/07/2025

If you're in a dispute with the IRS, mediation — also called “alternative dispute resolution” — may be a helpful option. It's a voluntary, nonbinding process that may offer a faster, less stressful way to avoid lengthy appeals or costly court battles. Both parties to mediation can walk away at any time. Mediation is especially useful for taxpayers with limited issues or those seeking quicker resolution during the early stages of an audit. However, it doesn’t replace the audit or collection process and doesn’t allow new evidence. We’re here to discuss this and other options with you at (508) 624-5534.

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly ...
10/06/2025

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly journal entries, reconcile accounts, prepare internal financial statements and investigate variances, the harder it is to identify and respond to red flags and new business opportunities. These tips can help you close the month quickly. For more ideas on how to streamline your closing process without compromising financial accuracy, call us at (508) 624-5534.

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerab...
10/03/2025

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerable individuals into paying fake penalties, ransoms or revealing personal information. Tactics range from bogus prize notifications to impersonating IRS agents, police or other government officials. Scammers typically make contact via phone, text or email, often with a false sense of urgency. As part of the World Elder Abuse Awareness Day, the IRS recently expanded its efforts to help seniors identify red flags and avoid becoming victims. Contact us at (508) 624-5534 if you’re unsure if a message is legitimate. To learn more about these threats and how to protect yourself or a loved one, visit the IRS here: https://bit.ly/3Xrj66J

If you’ve received a large inheritance, it may be tempting to view it as “found money” that can be spent freely. But it’...
10/01/2025

If you’ve received a large inheritance, it may be tempting to view it as “found money” that can be spent freely. But it’s in your best interest not to make quick purchases or financial commitments. Wait until you know what your net proceeds from the estate will be. Once all fees and taxes are accounted for, the final settlement may be less than you expect. What if you’re receiving your inheritance through a trust? Learn the trust’s terms and understand the timing and amount of distributions and any conditions that must be satisfied to receive them. Contact us at (508) 624-5534 for assistance.

Knocked unsteady by recent stock market wobbles? If you’re in your 20s or 30s, your stock-heavy 401(k) plan portfolio li...
09/30/2025

Knocked unsteady by recent stock market wobbles? If you’re in your 20s or 30s, your stock-heavy 401(k) plan portfolio likely has time to recover and grow, thanks to the power of compounding. If, on the other hand, you’re less than 10 years from retirement, consider allocating more to bonds and other less-volatile securities. We can help you build a resilient and effective portfolio that reflects your risk tolerance, investment goals and retirement plans. Contact us at (508) 624-5534.

As a business owner, you’ve likely experienced moments when a big decision lay solely on your shoulders. But here’s the ...
09/29/2025

As a business owner, you’ve likely experienced moments when a big decision lay solely on your shoulders. But here’s the thing: You don’t have to go it alone. We can help you identify your business’s biggest challenges and find solutions for them. Call us today at (508) 624-5534 to schedule a consultation.

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of doll...
09/26/2025

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of dollars are bet by “casual gamblers,” who aren’t in the business of wagering. If you win, congratulations. Not to rain on your parade, but Uncle Sam generally wants his share. You might receive a Form W-2G (Certain Gambling Winnings) depending on what you bet on and how much you win. All winnings must be reported on your tax return. You have until next year to report the money you win in 2025. You may need to pay estimated tax on the additional income. Contact us at (508) 624-5534 with questions.

When planning your estate, start early and update often. It’s crucial to have a plan that grows with you because financi...
09/24/2025

When planning your estate, start early and update often. It’s crucial to have a plan that grows with you because financial landscapes shift, tax laws change and life circumstances evolve. Here are 5 quick tips. 1) Structure assets to minimize taxes and maximize wealth transfers. 2) Consider trusts to protect assets, control distributions and avoid probate. 3) Ensure accounts (bank, retirement, insurance) have up-to-date beneficiaries. 4) Use annual gift tax exclusions to reduce your taxable estate. 5) Update documents when life changes occur. Contact us at (508) 624-5534 for assistance.

Fraud can drain your company’s assets and erode its value, often before you realize it’s happening. Protect your busines...
09/23/2025

Fraud can drain your company’s assets and erode its value, often before you realize it’s happening. Protect your business with strong internal controls, such as segregation of duties. This means dividing key responsibilities among different individuals. Take the petty cash drawer: One employee should authorize disbursements, another should have custody of the drawer and dispense cash, and a third should record and reconcile the transactions. These built-in checks can reduce the risk of any one person committing fraud. Need help reviewing your internal processes? Call us at (508) 624-5534.

Taxes don’t have to be stressful! Whether you're an employee, independent contractor, business owner or retiree, our tax...
09/22/2025

Taxes don’t have to be stressful! Whether you're an employee, independent contractor, business owner or retiree, our tax services are designed to minimize your tax liability, maximize your refund and keep you compliant with current tax laws. Contact us at (508) 624-5534 for professional support tailored to your unique situation.

If the IRS has a question about your tax return, hasn’t received a payment due or has made adjustments to something you’...
09/19/2025

If the IRS has a question about your tax return, hasn’t received a payment due or has made adjustments to something you’ve filed, it will notify you with a letter or notice sent via the USPS. The letter will provide instructions on how to respond, which might include sending copies of records the IRS requires. But what if you disagree with the tax agency’s assessment of a situation? Follow the instructions included in the notice and keep copies of everything you mail to the IRS for up to three years. You can also contact us at (508) 624-5534 for help with any tax dispute.

Address

PO Box 3278
Southborough, MA
01772

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm

Telephone

+15086245534

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