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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Candlewood Payroll Service, Inc.

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United States
Brookfield, CT
Candlewood Payroll Service, Inc.

Keeping your payroll in check! Not to mention, extra “nickel and dime” charges. Our payroll service is designed to meet your specific needs.

With Candlewood Payroll Services you no longer have to accept a take-it-or-leave-it, cookie-cutter, one-size-fits-all payroll service that may not be right for your company. After a brief consultation, we develop a payroll solution that enables our firm to work collaboratively with you. Give us a call and you’ll discover how our firm can save you time and money with our payroll processing system.

07/29/2026

If you have a traditional pension and are approaching retirement, get ready to make some decisions! Pension plans usually give retirees a choice between receiving payouts as a lump sum or an annuity. A lump-sum distribution allows you to invest the money as you see fit. Annuity payments can provide guaranteed income for life. Call us at (203) 740-9699 to discuss the costs, risks and advantages of each option.

07/28/2026

Business owners and self-employed individuals who use their vehicle for business may be able to deduct auto-related expenses. But if a vehicle (including a car, van, pickup or panel truck) is used both for business and personal purposes, the expenses must be split based on mileage. These rules apply to both owned and leased vehicles. There are two methods for calculating auto expenses: actual expenses and the standard mileage rate. Both require careful recordkeeping, though using the mileage rate is generally easier. Contact us at (203) 740-9699 to determine which method makes sense for your situation.

07/27/2026

If you’re thinking about financing a new vehicle, you may be able to deduct up to $10,000 per year of interest paid. The deduction is available for certain personal auto loans originated after Dec. 31, 2024 — even if you don’t itemize deductions. Modified adjusted gross income (MAGI) limits apply, and only qualifying vehicles assembled in the U.S. are eligible. Before purchasing, consider whether eligibility for the deduction should factor into your vehicle choice. We can help run the numbers. Call us at (203) 740-9699.

07/24/2026

Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide tax benefits. You may be able to deduct mortgage interest on debt used to substantially improve your home. Certain improvements can also increase your tax basis, potentially reducing taxable gain when you sell. Medically necessary modifications may qualify as deductible medical expenses, subject to limits. And if you overlooked claiming now-expired credits for qualifying energy-efficient home improvements you made in 2025, an amended return may be worth considering. Call us at (203) 740-9699 to talk taxes before or after a home renovation.

07/22/2026

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it’s headed — before year end. Tax planning opportunities may still be available, but they’ll become more limited as the calendar winds down. Whether you’re considering equipment purchases, compensation strategies, retirement plan contributions or other tax-saving moves, now is the time to look ahead and review your options. Call us at (203) 740-9699 to bring your 2026 tax strategy into focus.

07/21/2026

You’ll probably owe tax on your retirement income — how much depends on factors such as the types of retirement accounts you own and your other income sources. In general, retirees should withdraw funds from any taxable accounts first, tax-deferred accounts second and tax-free accounts last. But different withdrawal strategies may benefit you. The important thing is to start planning before you retire. Call us at (203) 740-9699 for help.

07/20/2026

Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe at least $1,000 in taxes after subtracting credits and withholding, quarterly estimated payments may be required. Withholding and estimated payments must generally cover 90% of this year’s tax or 100% of last year’s tax (or 110%, depending on your income). Unsure if you’re on track? Let’s review your situation now to help avoid surprises when you file your 2026 return next year. Call us at (203) 740-9699.

07/17/2026

If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. Starting Jan. 1, 2026, corporations can only deduct charitable gifts in excess of 1% of the company’s taxable income, with a 10% of income cap. Amounts exceeding the 10% cap can be carried forward — as can amounts that aren’t currently deductible due to the 1% floor — for up to five years. You may want to execute a multiyear charitable deduction strategy if your company’s income varies from year to year. Contact us at (203) 740-9699. We can help by projecting income and other deductions so you can support your community while maximizing long-term tax benefits.

07/15/2026

You probably have retirement questions: How much should I save before I quit working? When should I start taking Social Security benefits? Can I retire before Medicare coverage kicks in? What about taxes in retirement? We can provide you with answers based on your individual financial circumstances and retirement goals. Contact us at (203) 740-9699.

07/14/2026

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor. But a smooth transition may also require support from managers and other key employees. Communicating thoughtfully about your intentions and progress can help build confidence, reduce uncertainty and keep the business moving forward. Contact us at (203) 740-9699 for help addressing the tax, financial and strategic aspects of your plan.

Address

246 Federal Road, Ste C24
Brookfield, CT
06804

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

(203) 648-9702

Website

http://www.candlewoodpayroll.com/

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