The Innovative CPA Group, LLC

The Innovative CPA Group, LLC The Innovative CPA Group is a team of forward-thinking accounting, tax, and business experts

A full project schedule doesn’t always mean a strong bottom line, or cash available when you need it.Rising labor and ma...
10/01/2026

A full project schedule doesn’t always mean a strong bottom line, or cash available when you need it.

Rising labor and material costs, change orders, and project delays can chip away at profitability. Meanwhile, delayed payments and retainage can leave cash tied up while payroll, suppliers, and subcontractors still need to be paid.

That’s why revenue alone doesn’t tell the full story.

Regularly reviewing job costs, project margins, billing, and collections can help construction owners spot issues earlier and understand both what they’re earning and when that money will be available.

At ICG, we help owners look beyond year-end numbers to make more informed decisions throughout the year.

Business travel on the calendar? It may be time to review your reimbursement policy. ✈️New IRS per diem rates take effec...
10/01/2026

Business travel on the calendar? It may be time to review your reimbursement policy. ✈️

New IRS per diem rates take effect today, October 1, 2026, bringing updated reimbursement amounts and changes to designated high-cost locations. Understanding the updates can help your business keep travel policies and expense reporting on track.

Read our latest article to learn what’s changing and how to prepare: https://hubs.ly/Q04yNqLh0

For manufacturers, reliable financial reporting helps support decisions well beyond year-end.Pat Kovac works with many c...
09/28/2026

For manufacturers, reliable financial reporting helps support decisions well beyond year-end.

Pat Kovac works with many clients in the manufacturing industry, bringing an understanding of the challenges manufacturers face, from inventory and production costs to changing margins. He works with clients to provide clear, dependable financial reporting and insights they can use as their businesses grow.

We’re proud to highlight Pat once again, and the experience he brings to ICG’s manufacturing clients.

If you were born in 1960 or later, your Full Retirement Age for Social Security is 67. But you can start benefits as ear...
09/24/2026

If you were born in 1960 or later, your Full Retirement Age for Social Security is 67. But you can start benefits as early as 62 or delay them until 70

The age you choose can make a lasting difference in your monthly income. 📈

Our latest article explains what Full Retirement Age means, how claiming earlier or later affects your benefits, and what to consider as part of your retirement plan.

https://hubs.ly/Q04y8B7S0

LLC or S corporation—which structure makes the most sense for your business?While an LLC offers flexibility and fewer fo...
09/17/2026

LLC or S corporation—which structure makes the most sense for your business?

While an LLC offers flexibility and fewer formalities, an S corporation election may provide tax-saving opportunities as profits grow. The right choice depends on several factors, including income, payroll costs, state taxes, ownership structure, and ongoing compliance requirements.

Our latest article breaks down the key differences, potential advantages, and important deadlines business owners should consider.

Read the full article to learn more and speak with your tax advisor before making an election.

https://hubs.li/Q04xH0qv0

We’re proud to share that Lauren Shugrue, CPA, Founding Partner of The Innovative CPA Group, has been named to Forbes’ 2...
09/15/2026

We’re proud to share that Lauren Shugrue, CPA, Founding Partner of The Innovative CPA Group, has been named to Forbes’ 2026 America’s Best-In-State CPAs list for Connecticut!

This national recognition reflects Lauren’s commitment to her clients, leadership within our firm and continued contributions to the accounting profession and broader community.

Please join us in congratulating Lauren on this well-deserved honor!

Learn more about Lauren and this recognition: https://hubs.li/Q04xz0pq0

It’s National Payroll Week! 💵This year, there is an added reason to give your paycheck or payroll process a quick checku...
09/11/2026

It’s National Payroll Week! 💵

This year, there is an added reason to give your paycheck or payroll process a quick checkup. The IRS Tax Withholding Estimator has been updated to reflect recent federal tax law changes, including new deductions for eligible tips, overtime pay, car loan interest, and an enhanced deduction for seniors.

These changes mean that withholding calculations that were accurate last year may no longer reflect your current tax situation. Individuals can use the updated estimator to determine whether too much or too little federal income tax is being withheld and, if necessary, submit a new Form W-4 to their employer.

For business owners and payroll professionals, this is also a good opportunity to review payroll procedures using current IRS guidance.

A proactive review now can help prevent surprises at tax-filing time.

Learn more and access the IRS Tax Withholding Estimator: https://hubs.li/Q04xf5110

Planning to make charitable contributions in 2026? 💟 Your giving strategy may deserve a closer look.👇Changes to charitab...
09/10/2026

Planning to make charitable contributions in 2026? 💟 Your giving strategy may deserve a closer look.👇

Changes to charitable deduction rules taking effect in 2026 could impact how individuals and businesses approach their contributions — making the timing, amount, and documentation of gifts increasingly important.

Our latest article covers:
✓ Key charitable deduction changes for 2026
✓ Current contribution limits to keep in mind
✓ Documentation requirements for noncash gifts
✓ Tips for avoiding charitable giving scams
✓ Planning considerations before making larger gifts

Thoughtful planning can help ensure your generosity aligns with both your charitable goals and your overall tax strategy.

Read the full article to learn what to consider as you plan your 2026 giving.



https://hubs.li/Q04x4qrM0

“No Tax on Overtime” doesn’t mean all overtime pay is tax-free, and new IRS guidance provides important clarification fo...
09/03/2026

“No Tax on Overtime” doesn’t mean all overtime pay is tax-free, and new IRS guidance provides important clarification for both employers and employees.

Beginning in 2026, new reporting requirements will make accurate payroll tracking especially important for workers who may be eligible for the deduction.

Our latest article breaks down:
🔹 What portion of overtime may qualify
🔹 Income limits and eligibility requirements
🔹 New employer reporting responsibilities
🔹 What businesses and employees should know heading into 2026

Read the full article to learn what’s changing and how to prepare.
https://hubs.li/Q04wD5PR0

SELLING AN INVESTMENT PROPERTY? 🚨The tax implications are worth considering well before you get to the closing table.Pla...
09/03/2026

SELLING AN INVESTMENT PROPERTY? 🚨

The tax implications are worth considering well before you get to the closing table.

Planning ahead can give real estate investors more time to understand their options and make informed decisions around:

✅ Capital gains — Understanding the potential tax impact of the sale
✅ Depreciation recapture — Accounting for depreciation claimed during ownership
✅ 1031 exchanges — Evaluating whether deferring gains through a like-kind exchange fits your plans
✅ What comes next — Considering how the sale fits into your broader investment and financial strategy

Whether you’re selling one property or repositioning a larger portfolio, the decisions made before the transaction closes can have a meaningful impact on the outcome.

As both a CPA and real estate investor and developer, our Founding Partner, Charlie Smith, brings firsthand industry perspective to these planning conversations.

Considering the sale of an investment property? Start the conversation early, before the transaction is already in motion.

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1 Enterprise Drive Suite 210
Shelton, CT
06484

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Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

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