RichardsTimko, P.C.

Call Directions Website Contact the business

RichardsTimko, P.C. Specializing in individual and small business accounting and tax needs

​

RichardsTimko, P.C., Certified Public Accountants, providing tax preparation, bookkeeping, payroll services, business consulting and tax planning.

For small businesses that carry inventory, managing it effectively can help improve cash flow, reduce waste and keep cus...
10/14/2026

For small businesses that carry inventory, managing it effectively can help improve cash flow, reduce waste and keep customers happy. Make sure your staff is well trained to regularly review stock levels, track sales trends, and reorder products in a timely, cost-conscious manner. It’s also wise to identify slow-moving items and adjust purchasing decisions accordingly. Wondering how inventory management affects your financial performance? Contact us at 508-679-5259 for insights and practical guidance tailored to your business needs.

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, co...
10/13/2026

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, compensation for physical injuries or sickness is tax-free. But awards for lost wages, emotional distress and punitive damages typically are taxable. Attorneys’ fees are another area that can trip up recipients. Even if your lawyer is paid directly out of your settlement, you’re generally taxed on the full amount before fees are deducted. This means you may owe tax on money you never actually receive. The bottom line is that the way a settlement is structured can significantly affect your tax liability, making professional guidance essential. Call us today at 508-679-5259 for assistance.

Now is a good time to review your year-to-date investment gains and losses. If you have net capital gains, consider sell...
10/12/2026

Now is a good time to review your year-to-date investment gains and losses. If you have net capital gains, consider selling investments that have declined in value to help offset your gains — a strategy known as “loss harvesting.” If you have net losses, harvesting gains by selling appreciated investments can allow you to recognize some or all of the gains tax-free. You can also generally use up to $3,000 of net capital losses to offset ordinary income. Contact us at 508-679-5259 to discuss year-end tax planning for your investments.

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay ...
10/08/2026

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay tax at the entity level. Then the individual shareholders may owe additional tax when they receive dividends and other taxable distributions or sell their shares. Reducing corporate taxable income can lessen the impact. For example, the company can generally deduct reasonable salaries, bonuses and eligible fringe benefits provided to shareholder-employees. This strategy also has potential downsides. Choosing your business entity requires careful consideration. Contact us at 508-679-5259 to compare your options and determine whether a C corporation is the right structure for your start-up.

Tax problems can leave you tied in knots. Whether you’re dealing with an IRS notice, penalty or another tax issue, you d...
10/07/2026

Tax problems can leave you tied in knots. Whether you’re dealing with an IRS notice, penalty or another tax issue, you don’t have to sort through the complexities alone. We can help untangle the issues, explain your options and determine your next steps. Contact us at 508-679-5259 to discuss your situation.

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family ca...
10/06/2026

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family caregiver may be considered a household employee, which can create employment tax and Form W-2 obligations for the person receiving care. In other situations, the caregiver may not be an employee but still must report the payments as income. Self-employment tax may also apply if the caregiver operates a trade or business providing care services. But employment tax or self-employment tax exceptions may apply when caring for a spouse, parent, child or other relative. Contact us at 508-679-5259 to discuss your family’s situation.

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax...
10/05/2026

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax returns and keeping your books in order, we can help you improve cash flow, safely plan for expansion and make smarter financial decisions. Let’s talk about how our advisory services can strengthen your strategic planning, streamline operations, and uncover new opportunities for long-term growth and success. Call us today at 508-679-5259 to schedule a consultation.

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant val...
10/01/2026

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant value to a business. Examples include copyrights, licenses and customer lists. The tax implications can be complex. IRS regulations require the capitalization of costs to 1) acquire or create intangibles; 2) create or enhance a separate, distinct intangible; 3) create or enhance a future benefit identified in IRS guidance as capitalizable; or 4) facilitate the acquisition or creation of intangibles. Capitalized costs can’t be fully deducted in the year paid or incurred. They generally must be ratably deducted over the asset’s life. Questions? We’re here to help. Call us at 508-679-5259.

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your...
09/30/2026

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your assets will be distributed according to your intentions. In addition, it can save taxes, minimize legal complications and family disputes, and reduce expenses for your heirs. Do you have young children? An estate plan is a must so you can name guardians for them in the event of your untimely death. If you’re ready to begin your estate planning journey, or if you’d like us to review your current plan, contact us at 508-679-5259.

If you work remotely and split your time between two states during the year, it can create state tax issues. A state wit...
09/29/2026

If you work remotely and split your time between two states during the year, it can create state tax issues. A state with an income tax generally can tax all income of its residents and income earned within its borders by nonresidents. Residency rules vary but may consider your domicile, days spent in the state and whether you maintain a home is there. Your domicile is generally your true, fixed, permanent home — the place you intend to return to. Some states may treat you as a resident for income tax purposes if you maintain a home and spend a specified number of days there. Contact us at 508-679-5259 to review your situation and help determine whether you may have tax obligations in more than one state.

Address

151 State Road, Unit 2
Westport, MA
02790

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 1pm

Telephone

(508) 679-5259

Website

Alerts

Be the first to know and let us send you an email when RichardsTimko, P.C. posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to RichardsTimko, P.C.:

Shortcuts

Share

Category