Peter A Norton, CPA, PC

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In a divorce, a qualified domestic relations order (QDRO) allows retirement plan assets to be transferred to a spouse wi...
02/11/2026

In a divorce, a qualified domestic relations order (QDRO) allows retirement plan assets to be transferred to a spouse without dire tax consequences. A court issues a QDRO, which states a dollar amount or a percentage of assets that belongs to the spouse. It also specifies the number of payments to be made (or the length of time for the terms to apply). Contact us at (508) 624-5534 for details.

You may have heard you need at least $1 million (or $750,000 or $3 million or another number) saved before you retire. T...
02/10/2026

You may have heard you need at least $1 million (or $750,000 or $3 million or another number) saved before you retire. The truth is, “your number” is specific to you. How much you need for a secure and fulfilling post-work life depends on factors such as your current income, your desired retirement lifestyle and whether you hope to leave a legacy to heirs. Contact us (508) 624-5534. We’ll review your situation together and come up with a retirement savings plan — including a number.

When you’re running a business, it’s easy for the books to fall behind. But timely, accurate financial records are essen...
02/09/2026

When you’re running a business, it’s easy for the books to fall behind. But timely, accurate financial records are essential for a healthy operation. Reporting delays can lead to cash-flow surprises, cost overruns and missed opportunities. Contact us at (508) 624-5534 to get caught up and gain real-time insights that can help your business thrive.

When natural disasters strike, tax deadlines shouldn’t add to your stress. Generally, taxpayers have had three years fro...
02/06/2026

When natural disasters strike, tax deadlines shouldn’t add to your stress. Generally, taxpayers have had three years from the April filing deadline for the tax year to claim a credit or refund for overpaid taxes. But when the IRS extended filing deadlines for disasters such as wildfires, floods or hurricanes, the three-year period didn’t always adjust accordingly. The Disaster Related Extension of Deadlines Act, signed into law on Dec. 26, 2025, addresses this issue. Now, when the IRS extends filing deadlines due to federally declared disasters, the period to claim refunds and credits is also extended. The new law also aligns payment deadlines with filing relief. Call us (508) 624-5534 at with questions.

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners ...
02/04/2026

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners is now permanent. (It had been scheduled to expire after 2025.) This break reduces taxable income for eligible sole proprietors, partners, S corp owners and, generally, LLC members. Beginning in 2026, expanded income ranges over which certain limits phase in may allow more taxpayers to qualify for the QBI deduction, and some may enjoy larger deductions. Contact us at (508) 624-5534 to learn how you can benefit.

Many of the major tax provisions signed into law in 2025 start taking effect in 2026. How has the tax landscape changed ...
02/03/2026

Many of the major tax provisions signed into law in 2025 start taking effect in 2026. How has the tax landscape changed for you or your business since last year? Contact us at (508) 624-5534 and we’ll give you the lay of the land, including how you can potentially claim tax credits and deductions.

We provide trusted guidance for both individuals and businesses. Our services include tax preparation and planning, book...
02/02/2026

We provide trusted guidance for both individuals and businesses. Our services include tax preparation and planning, bookkeeping and accounting, and compliance. For businesses, we also can support payroll, enhance cash-flow management and provide strategic growth planning. For individuals, we can advise on personal finance, retirement planning and estate planning. With our assistance, you can gain clarity, accuracy and confidence in every financial decision. Contact us at (508) 624-5534 to learn more.

The IRS has issued the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs. Effective Jan. ...
01/30/2026

The IRS has issued the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs. Effective Jan. 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 72.5 cents per mile. (This is up from 70 cents per mile for 2025.) The 2026 rate for medical or eligible moving purposes is 20.5 cents per mile. (This is down from 21 cents per mile for 2025.) For charitable driving, the 2026 rate is 14 cents per mile (unchanged from 2025). These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, don’t forget to keep detailed mileage records. Contact us at (508) 624-5534 for more information on when mileage is deductible.

You’ve spent time and money building your business, and it’s now probably your most valuable asset. So safeguarding that...
01/28/2026

You’ve spent time and money building your business, and it’s now probably your most valuable asset. So safeguarding that wealth is critical. The good news is that there are many ways to help ensure it remains a lasting source of security for you and your family. Our team can help you identify and implement wealth management strategies that protect what you’ve built while preserving your business’s value and competitive edge. Contact us at (508) 624-5534 to get started.

Income investments can play a key role in a diversified portfolio, so it’s important to be aware of their tax treatment....
01/27/2026

Income investments can play a key role in a diversified portfolio, so it’s important to be aware of their tax treatment. Qualified dividends are taxed at favorable long-term capital gains tax rates. But interest income is generally taxed at ordinary income rates, which can be as high as 37%. So stocks that pay qualified dividends may be more attractive tax-wise than other income investments, such as CDs and taxable bonds. We can help assess the tax consequences of your investment strategy. Call us at (508) 624-5534.

Writing a comprehensive business plan is an absolute imperative when launching a business. But it’s also important for r...
01/26/2026

Writing a comprehensive business plan is an absolute imperative when launching a business. But it’s also important for running one. Why? Because your business plan can help you see into the future. As long as it’s properly structured, adheres to sound strategies and contains accurate data, a business plan should spell out in black and white what your company will accomplish and how it will get there. Contact us at (508) 624-5534 for help determining whether your business plan is still the crystal ball it needs to be.

Legislation in 2025 made 100% bonus depreciation permanent for businesses that purchase and place into service qualified...
01/23/2026

Legislation in 2025 made 100% bonus depreciation permanent for businesses that purchase and place into service qualified new or used property after Jan. 19, 2025. However, when you file your 2025 income tax return, you can choose to use the old 40% bonus depreciation rate. Why would you do this? You may want to save more tax in 2025 than you would following normal depreciation but preserve some deductions for the future. For example, if you anticipate being in a higher tax bracket in 2026, deductions will be more valuable. Another reason is to prevent large net operating losses, which 100% bonus depreciation can create. Call us at (508) 624-5534 for help determining which tax breaks will be most beneficial to claim on your 2025 return and which ones might make sense to forgo.

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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