Westfield, MA 01085 USA

Category: Resources

Local providers in the entire state of Massachusetts

Streamline Your Business with Expert Bookkeeping

Introduction: In today’s fast-paced business environment, effective bookkeeping is more than just a necessity – it’s the backbone of successful financial management. At Drenen Financial Services, we understand the challenges you face and offer expert solutions tailored to your needs. What is Bookkeeping and Why is it Essential for Your Business? Bookkeeping involves recording, organizing,…
Read more

Ditch the Desktop, Embrace the Cloud: A Smooth Guide to Migrating to QuickBooks Online with Drenen Financial Services

Are you clinging to QuickBooks Desktop like a life raft in a digital sea of change? Face it, the cloud is calling, and QuickBooks Online is its siren song.

Massachusetts Tax Landscape Changes and Tips for 2024

Buckle up, Bay Staters! 2024 has landed, and with it come important changes to the Massachusetts tax landscape. From altered filing requirements to expanded deductions, staying on top of these updates can feel like deciphering ancient hieroglyphics. Worry not, because Drenen Financial Services is here to be your Rosetta Stone! New Filing Rule for Married…
Read more

Tax Season Superpowers: How Renewable Energy and Efficiency Can Fuel Your Savings

Home Sweet (Tax) Haven: Building a Greener, Financially Savvy Future with 2023 Credits

How to Strategize Your Business for Schedule-C Taxpayers

How to lower your taxes legally on your Schedule-C for small business owners.

IRS Cracking Down on Cryptocurrency taxes

The Internal Revenue Service (IRS) is stepping up its enforcement of cryptocurrency taxes. In a recent announcement, the IRS said that it is sending letters to taxpayers who have not reported their cryptocurrency transactions. The letters will warn taxpayers that they may be subject to penalties if they do not report their cryptocurrency income. Why…
Read more

Understanding the Impact of the Tax Cuts and Jobs Act (TCJA) on SALT Deductions

President Donald Trump signed the Tax Cuts and Jobs Act (TCJA) into law in December 2017. It brought substantial changes to the federal tax code, including alterations to the State and Local Tax (SALT) deduction. Here’s a concise look at the TCJA’s impact on SALT and its potential implications once TCJA provisions expire: TCJA-Induced Changes:…
Read more

SALT: Your Guide to State and Local Taxes Made Simple!

Taxes are a part of life, but they can get pretty complicated. One term you might come across is SALT, which stands for State and Local Taxes. Don’t let the acronym intimidate you; we’re here to break it down in simple terms. What Is SALT? SALT refers to the taxes you pay at the state…
Read more

Tax FAQs Demystified: Your Guide to Common Questions and Answers about taxes

File Your Taxes Confidently: Choose from convenient options: file online through the IRS website, use trusted tax preparation software, or consult with a seasoned tax professional. Mark Your Calendar: Stay on top of tax deadlines. Typically, federal taxes are due by April 15th, but stay informed about any year-specific changes on the IRS website or…
Read more