Cavanaugh & Co, LLP

11/28/2024

Wishing you a warm and wonderful Thanksgiving! 🦃🍁 This season, we’re especially grateful for our incredible team and the amazing clients we have the privilege to serve. May your holiday be filled with joy, gratitude, and time spent with loved ones.

11/26/2024

After a disaster, it’s important to rebuild your tax and financial records to document losses for federal aid or insurance. Here are some quick tips:

- Use Get Transcript on IRS.gov or call 800-908-9946 for tax records.

- Contact your bank or credit card company for past statements.

- Reach out to your title company, contractors, or county assessor for property and home improvement records.

- Look up vehicle fair market values online.

Rebuilding these records can help you recover faster!

11/20/2024

Celebrating 24 incredible years with Doris on our team! Your dedication and contributions have made a lasting impact. Here’s to many more successful years together!

11/19/2024

New regulations are on the horizon! Learn about the IRS and Treasury’s latest proposed changes to alternative fuel vehicle refueling property credits under Section 30C, and how these updates could impact your business.

The IRS and the Treasury Department on September 18 released proposed regulations on the credit for qualified alternative fuel vehicle refueling property

11/13/2024

If you've been affected by a disaster, the IRS offers several types of tax relief. Here's what you should know:

More Time to File and Pay: The IRS automatically grants extra time to file and pay taxes if you're in a disaster area. Keep an eye on updates through the IRS's disaster assistance page or their X account (formerly Twitter).

Casualty Loss Deduction: You may qualify for a casualty loss deduction if you've lost or damaged property. This can be claimed on your current or prior-year return, potentially leading to a larger refund.

Disaster Loans and Grants: The Small Business Administration provides loans and grants to those in federally declared disaster areas, but make sure your tax returns are up to date to qualify.

11/11/2024

Honoring the brave men and women who have served our country with courage and dedication. This Veterans Day, we express our deepest gratitude for your service and sacrifice.

11/07/2024

Cavanaugh & Co is proud to sponsor the Sahib Shrine Circus, happening November 7-10! 🎪 Join us for an exciting event filled with fun, laughter, and amazing performances. We’re thrilled to support this community tradition—see you at the circus!

11/05/2024

The IRS has issued new guidance offering taxpayers more flexibility in filing automatic accounting method changes for research and experimental expenditures under Section 174. If your business has short taxable years in 2022 or 2023, this update could impact you. Learn how these changes could affect your tax filings and what steps to take next in our latest blog post.

On August 29, 2024, the IRS issued Rev. Proc. 2024-34, which provides modified procedural guidance permitting taxpayers with short taxable years in 2022 or

11/01/2024

Our office will be closed on Friday, November 1, 2024, from 12-5 pm for a Staff Appreciation Luncheon. We’ll be back and ready to assist you on Monday, November 4.

10/31/2024

Happy Halloween! Celebrate safely and enjoy all the sweet treats and tricks!

10/29/2024

Wishing a very happy birthday to Meredith! Here’s to celebrating you and all the great things ahead!

10/28/2024

We are proud to support the Boys & Girls Club of Manatee County as a hole sponsor at the Keeping Kids Safe Golf Invitational! It's an honor to contribute to such an important cause and help make a difference for our community's youth.