Peter A Norton, CPA, PC

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Choosing the head of household (HOH) tax filing status may reduce your 2025 tax bill. HOH status offers a higher standar...
03/27/2026

Choosing the head of household (HOH) tax filing status may reduce your 2025 tax bill. HOH status offers a higher standard deduction, and in some cases, more favorable tax brackets than if you were to file as single. To qualify, you must have been unmarried (or considered unmarried) on Dec. 31, 2025; have paid more than half the cost of maintaining your home; and have had a qualifying dependent living with you for more than half the year. If you’re living with the other parent of your child but not married, only one of you can claim HOH status. The rules for HOH status can be complex, especially for divorced or separated parents. We can help you determine if you qualify. Contact us at (508) 624-5534.

Drip, drip, drip. That may be the sound of your business’s retirement savings plan “leakage.” Leakage refers to pre-reti...
03/25/2026

Drip, drip, drip. That may be the sound of your business’s retirement savings plan “leakage.” Leakage refers to pre-retirement withdrawals made by plan participants (your employees). When a plan’s total assets and individual account sizes shrink, it tends to hurt administrative efficiency and raise costs. It could also indicate that your workers are experiencing financial difficulties, which can reduce productivity. Contact us at (508) 624-5534 to discuss possible solutions.

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But ...
03/24/2026

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But beginning with donations made in 2026, people who take the standard deduction instead of itemizing can claim a charitable deduction of up to $1,000 ($2,000 for married couples filing jointly). Only “cash” donations qualify, but the definition may be broader than you think. It includes gifts made by debit or credit card, check, ACH, online payment platform and payroll deduction. Call us at (508) 624-5534 to discuss what you can deduct on your 2025 return and your donation strategy for 2026.

For small business owners, investing in new equipment, expanding facilities or launching a new product can be a big deci...
03/23/2026

For small business owners, investing in new equipment, expanding facilities or launching a new product can be a big decision. With limited funds, it’s essential to pinpoint the opportunities that deliver the most value. Financial models like accounting payback, net present value and internal rate of return offer a disciplined, data-driven approach to evaluating your options. We can help you apply these models to make confident, informed capital-budgeting decisions that fuel long-term success. Call us at (508) 624-5534 to get started.

If you’re thinking about starting a business, make sure you understand your federal tax responsibilities before opening ...
03/20/2026

If you’re thinking about starting a business, make sure you understand your federal tax responsibilities before opening your doors. IRS Publication 583, Starting a Business and Keeping Records, covers the basics. Your business structure (such as a sole proprietorship, partnership, limited liability company or corporation) determines which forms you must file and which taxes apply, including income, self-employment, employment and excise taxes. You may also need an Employer Identification Number for tax purposes, and you should be aware of your recordkeeping requirements. Starting a business is exciting, and getting the tax details right is important. We’re here to help. Call us at (508) 624-5534.

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many p...
03/18/2026

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many previously temporary tax law provisions are now permanent. And new opportunities may be available to help reduce your tax burden. If you’re ready to take a smart, strategic approach to the year ahead, we’re here to guide you. Contact us at (508) 624-5534.

Staying on top of your tax, retirement and estate planning is essential to protecting your financial future. We can help...
03/17/2026

Staying on top of your tax, retirement and estate planning is essential to protecting your financial future. We can help you keep these pieces aligned by ensuring your tax strategy is efficient, your retirement planning stays on track, and your estate plan reflects your goals and current laws. With proactive oversight, you can avoid costly surprises and maintain long-term financial confidence. Contact us at (508) 624-5534 for personalized guidance.

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifeti...
03/16/2026

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifetime gift and estate tax exemption ($15 million for 2026) by gifting ownership interests. These interests may be eligible for valuation discounts for lack of control and marketability. Another way to benefit from valuation discounts is to set up a family limited partnership (FLP). You fund the FLP with assets such as public or private stock and real estate, and then gift limited partnership interests. Contact us at (508) 624-5534 for additional details.

The IRS is reminding taxpayers of new deductions available this tax season. If you’re 65 or older, you potentially can c...
03/13/2026

The IRS is reminding taxpayers of new deductions available this tax season. If you’re 65 or older, you potentially can claim an additional $6,000 deduction. Depending on your occupation, you may be able to deduct up to $25,000 in qualified tips. You may also be able to deduct up to $12,500 in qualified overtime ($25,000 if you’re married and file jointly). If you took out a vehicle loan in 2025, you possibly can deduct up to $10,000 in interest paid. But all these breaks are subject to additional rules, and they phase out when income exceeds applicable limits. If you’re eligible, you can claim these deductions whether you itemize or take the standard deduction. Contact us at (508) 624-5534 with questions.

Grantor-retained annuity trusts (GRATs) and grantor-retained unitrusts (GRUTs) allow you to give assets to your children...
03/11/2026

Grantor-retained annuity trusts (GRATs) and grantor-retained unitrusts (GRUTs) allow you to give assets to your children today while you receive payments back from the trust for a specified term. And, provided you survive the trust’s term, you’ll remove the assets from your taxable estate at a reduced value for gift tax purposes. At the end of the term, the principal may pass to the beneficiaries or remain in the trust. Contact us at (508) 624-5534 for additional details.

As the 2025 filing season gets underway, it’s a smart time to also look to the future. Major tax law changes take effect...
03/10/2026

As the 2025 filing season gets underway, it’s a smart time to also look to the future. Major tax law changes take effect in 2026, and proactive planning now can help you avoid surprises later. While we’re preparing your current return, let’s also review your broader tax picture and identify opportunities that may benefit you in the year ahead. Have questions or want to schedule a planning session? Call us at (508) 624-5534.

Your financials reveal where your business has been … and where it can go next. We can read the numbers and translate th...
03/09/2026

Your financials reveal where your business has been … and where it can go next. We can read the numbers and translate them into clear insights, helping you solve challenges, identify opportunities and plot out happy endings to your strategic objectives. Call us today at (508) 624-5534 to schedule a consultation.

Address

65 Boston Post Road W
Southborough, MA
01752

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

Website

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