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Angiolillo & Associates CPA's

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Saugus, MA
Angiolillo & Associates CPA's

CPA Firm in Saugus MA. We are a full-service Accounting firm licensed in MA. We are affordable, experienced, and friendly. Your financial life is complex.

We offer a broad range of services for business owners, executives, and independent professionals. Personal finances – day-to-day financial management and income taxes – are complex enough. If you are a small business owner or a franchisee, financial complexity increases significantly. You need an accounting firm that understands and offers services that help you manage all areas of your integrate

d financial life. Angiolillo & Associates CPA’s is more than a CPA firm. We provide, income tax preparation and advice – for individuals and families. We also offer comprehensive financial planning. But many of our clients are also small business owners. For businesses we offer general accounting and bookkeeping, business tax returns, financial management, payroll services and business advisory services. We’ve been doing all of this for over 25 years, and as a result have gained valuable experience in many industries – from retail businesses to professional services, real estate to restaurants. Our CPA firm serves clients in the Greater Boston area including, Saugus, Wakefield, Lynnfield, Danvers, Peabody, Reading, Malden, Revere, Everett, Andover, Lynn and many other cities throughout Massachusetts. As an experienced CPA firm for franchises like Dunkin Donuts and others, we also know the unique accounting, taxation and financial management needs of franchisees. We are members of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants. So whether you need help with personal or business finances, income taxes or payroll, general accounting or personal financial planning, A&A is there to help you solve life’s financial complexities.

09/07/2026

Do you know the difference between IRS liens and levies? A federal tax lien arises when you fail to pay taxes after receiving an IRS bill or notice. It’s a legal claim against your property, including real estate and other assets, which can affect your ability to secure credit or complete financial transactions. A levy may be the next step if your debt remains unresolved. The IRS can seize assets — such as wages or bank funds — to satisfy the debt. In short, a lien protects the IRS’s interest, while a levy enforces collection. If you receive collection notices, don’t ignore them! Acting quickly can help open the door to resolution options. Call us at 781-231-1681.

09/04/2026

Did you request an extension to file your 2025 individual federal income tax return? If so, you have until Oct. 15, 2026, to file it. But if you have the tax-filing information you need, you may want to file now. There’s no advantage to waiting until the deadline. If you owe tax, the IRS offers short- and long-term payment plans, as well as installment agreements, to taxpayers who qualify. It’s important to act quickly if you owe because any amount that was due April 15 accrues interest until the balance is paid. Call us at 781-231-1681 if you need help filing your extended return or have questions regarding your current tax situation.

09/02/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at 781-231-1681 to discuss whether a SLAT makes sense for you.

09/01/2026

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 781-231-1681 to bring your 2026 tax strategy into focus.

08/31/2026

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluate your financial position, identify opportunities and plan for what’s ahead. Whether you need assistance with accounting, bookkeeping, tax planning or strategic business advice, we can help you gain clarity. Our team provides practical guidance tailored to your specific needs, so you can focus on running and growing your business. Contact us at 781-231-1681 to learn more.

08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at 781-231-1681 for more information.

08/26/2026

If your trust is subject to high state income tax, you may be able to change its residence (or “situs”) to a state with low or no income taxes. Relocating a trust may offer a tax advantage if the trust is an irrevocable nongrantor trust, accumulates (rather than distributes) substantial amounts of ordinary income or capital gains, and can be moved to a state with low or no taxes on accumulated trust income. Call us at 781-231-1681 for more information.

08/25/2026

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at 781-231-1681 with any questions about this deduction.

08/24/2026

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion. For 2026, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per recipient if you split the gifts with your spouse. But it’s critical to understand the rules of gift-splitting to avoid unintended tax consequences. To elect to split gifts, the spouse making the gift must file a gift tax return, and the other spouse must consent by checking a box on the return and signing it. Contact us at 781-231-1681 for additional details.

08/21/2026

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising fuel costs. Effective July 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year. The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged. These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Call us at 781-231-1681 with questions.

Address

99 Walnut Street
Saugus, MA
01906

Opening Hours

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

Telephone

(781) 231-1681

Website

http://www.angiolillocpas.com/

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