Bailey Scarano

07/22/2026

We're hiring a Tax Manager with 7+ years of public accounting tax experience to lead engagements and mentor staff across a broad range of client work: corporate, individual, partnership, fiduciary, and nonprofit returns, plus planning, projections, and compliance.

This is a hands-on leadership role with direct partner access, real advisory work, and room to grow. CPA or EA required. If you're ready to step into something with more scope and fewer layers, we'd like to talk.


https://bit.ly/3RH6l3G

07/20/2026

Community association governing documents need regular reviews to stay compliant and effective.

· Red-light violations like Fair Housing Act conflicts or FCC antenna restrictions must be fixed immediately.
· Yellow-light items like quorum requirements and virtual meeting provisions should be updated proactively.
· Green-light changes can wait for broader document cleanup.

When was the last time your association reviewed its governing documents with legal counsel?

Clear, well-crafted governing documents are the backbone of a thriving community association. Here's how to know when to update them.

07/17/2026

The IRS just raised the standard mileage rate mid-year for the first time since 2022. Effective July 1, the business mileage rate jumps from 72.5 to 76 cents per mile, driven by a 38% spike in gas prices since January. Medical and moving rates also increased.

If you reimburse employees for mileage or deduct business driving, make sure your records and payroll systems reflect the new rate.

The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

07/16/2026

Every day brings another headline about inflation, interest rates, tariffs, or the economy. While those stories provide valuable context, they shouldn't make your business decisions for you.

Your financial statements tell a much more important story: what's actually happening inside your business.

In our latest article, we explore why successful business owners rely on timely financial information, not headlines, to guide decisions about hiring, investing, pricing, and growth.

https://bit.ly/4ppi4nE

07/14/2026

AI's real impact isn't just automating tasks. It's about redesigning business models and reshaping where profit gets created. McKinsey's research shows companies capturing AI value don't just swap robots for people; they build entirely new capabilities around the technology, the same way factories reorganized around electricity instead of just unplugging steam engines.

Are you rethinking your industry's economics, or just automating the workflow?


https://mck.co/4awcQAc

07/09/2026

The best mid-market CEOs don't just hold cash as insurance. They stockpile 9-12 months of runway so they can hire during hiring freezes, buy assets when prices crater, and negotiate from a position of strength instead of scrambling for credit lines.

Your cash balance isn't just a safety net. It's strategic ammunition.

Why mid market leaders should treat excess cash as their fastest lever for resilience and growth.

07/07/2026

More than a century in business teaches you one thing: every client is different. Since 1916, we've worked with Connecticut businesses across industries, each with unique goals and challenges. That's why personalized service isn't just our tagline; it's how we operate.

Our partners don't delegate client work. They do it. That's the Bailey Scarano difference.

Connecticut's best tax, audit and business advisory firm serving businesses and individuals located in the greater shoreline area.

07/03/2026

As we head into the holiday weekend, all of us at Bailey Scarano would like to wish our clients, colleagues, and community a safe and enjoyable Fourth of July.

We hope you have the opportunity to relax, spend time with family and friends, and enjoy a well-deserved break.

Happy Independence Day from the Bailey Scarano team.

07/01/2026

Nonprofit Form 990 filings can lag two years behind actual operations, yet false funding claims spread instantly on social media. Nearly 60% of U.S. nonprofits file the simplest version (Form 990-N), which doesn't even require donor details. That data gap creates vulnerability to misinformation.

Post your most recent Form 990 publicly and keep financial data current. Don't let the information vacuum work against you.

Candid insights | Nonprofit funding data is public—but it's often outdated, incomplete, or misunderstood. Learn what Forms 990 do and don't reveal, and how to protect your organization against common misconceptions.

06/29/2026

Most businesses barely scratch the surface of what QuickBooks can do. We help Connecticut companies unlock the platform's full potential: proper account structure, automated workflows, reports that actually drive decisions instead of collecting dust.

Implementation, training, cleanup, and ongoing support. We turn QuickBooks from a filing requirement into a management tool that shows you where your money actually goes.

Our Quickbooks team can help with set up, financial reports & train your team so you can understand your CT business and plan for the future.