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HARTFORDBUSINESS.COM | NOVEMBER 21, 2022 47 Home Sales Here's a list of recently sold luxury homes in Greater Hartford. Sale price Address Town Baths Beds Square footage Days on market $950,000 21 Stonewall Drive Granby 4 5 6,050 11 $927,000 12 Clearwater Court Avon 5 6 5,384 2 $875,000 2 Gedrim Place South Windsor 4 4 3,700 103 $875,000 111 Steele Road West Hartford 6 4 3,417 13 $861,000 31 Murphy Drive Rocky Hill 4 5 3,485 84 $850,000 94 Longmeadow Drive South Windsor 4 3 3,133 8 $850,000 178 Farmingberry Drive Southington 5 5 5,170 59 $803,400 6 Gledhill Lane West Hartford 4 4 3,300 79 $799,000 9 Scarborough Road Simsbury 4 5 4,325 28 $785,000 114 Cornerstone Drive South Windsor 4 4 4,901 16 $765,000 46 Daniel Trace Burlington 6 6 5,374 70 $750,000 46 Weiss Way Southington 4 3 3,154 46 $746,025 11 Beechwood Road Farmington 4 4 4,098 3 $705,000 467 Overlook Road Glastonbury 4 5 3,614 4 $701,000 117 North Saddle Ridge Simsbury 5 4 3,677 8 $700,000 301 Wedgewood Road Southington 4 3 3,397 1 $685,000 19 Ridgemont Drive West Hartford 5 4 3,282 3 $682,000 15 Mountain Estates Drive Avon 4 4 3,914 135 $673,000 119 North Ridge Court Southington 4 3 2,517 57 $650,000 780 Mapleton Avenue Suffield 4 5 3,733 0 $646,500 71 Highridge Road Simsbury 5 4 2,719 120 $585,000 81 Old Mill Road Avon 4 3 3,432 5 $580,000 67 Old Mill Road Avon 4 3 3,314 19 $570,000 16 High Wood Road West Hartford 3 3 2,903 3 $570,000 72 Old Post Road Wethersfield 5 3 3,060 65 $560,000 16 Kent Lane Farmington 4 3 2,620 3 $560,000 232 Westledge Road Simsbury 4 3 3,774 106 $560,000 57 Ridge Drive West Hartford 4 4 3,738 11 $555,000 12 Bella Lane Farmington 4 4 2,244 73 $551,250 22 Cumberland Road West Hartford 4 3 2,245 1 $550,000 51 Northview Drive Glastonbury 5 3 2,303 3 $540,000 105 Taine Mountain Road Burlington 4 4 3,772 58 $538,000 214 Hollister Drive Avon 5 3 2,406 16 $530,000 5 Copper Brook Circle Granby 3 3 2,306 54 $530,000 133 Main Street Wethersfield 3 2 2,820 6 $520,000 139 Melrose Road East Windsor 3 3 2,200 57 $515,000 75 Kimberley Road Newington 3 3 2,553 4 $505,000 43 Ridge Boulevard East Granby 3 3 2,485 2 $505,000 7 Woodland Drive Southington 3 3 3,318 4 Credit: Data provided by Evan L. Berman of William Raveis Broder Team. Contact him at evan@brodergroup.com. than it will in January. Normally, there's a 50% limit to business-meal deductions. This was waived for 2021 and 2022, making 100% of allowable food and beverages provided by a restaurant deductible. Bonus depreciation: New assets, such as computers, machinery, vehi- cles and even fruit-and-nut-producing plants acquired and put into service in 2022 can be fully depreciated on your 2022 tax return. This is known as "bonus depreciation" and gives the full tax benefit of a new investment immediately instead of over a period of five or seven years. In 2023, bonus depreciation drops to 80% of the asset's value, and it's set to continue to drop 20% per year through 2027. Carry forward losses: While in recent years net operating losses could be carried back, as of last year they can only be carried forward. In addi- tion, the net operating loss deduction is limited to 80% of taxable income. In other words, if you're carrying a loss forward, it can only offset 80% of your income — you'll still owe taxes on the other 20%. Business owners with large losses to claim could be caught off guard that they still owe income tax. Social Security tax deferrals are due: As part of pandemic-relief measures in 2020, the IRS allowed companies to defer the employer portion of the Social Security tax to 2021 and 2022. The 2022 payment (typically half the 2020 employer portion of the Social Security tax) is due Dec. 31, 2022. Undoubtedly, some companies that took this deferral have forgotten about it and will be surprised by the IRS letter requesting it. Jim Arcouette and Bill Slattery are CPAs in the tax services practice at Connecticut accounting and advisory firm Fiondella, Milone & LaSaracina LLP (FML CPAs).