3 Proven Reasons a Connecticut Business Owner Should Elect Subchapter S

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Business owners of corporations will by default have a “C” Corporation.  If they are eligible and they elect, they could be a Subchapter S (“Sub S”) corporation.

 

 

 

An eligible Sub S corporation meets the following criteria:

How to Apply for Connecticut Tax Amnesty and Save Money

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The State of Connecticut Department of Revenue Services (“DRS”) is running a tax amnesty program from September 16, 2013 through November 15, 2013. The amnesty program is for any tax period ending on or before November 30, 2012.

How to Pay Your Estimated Taxes

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Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.

 

Other taxpayers may not be employees or have taxes withheld from their earnings.  These folks would need to file quarterly estimated taxes. This could include the self-employed, partners in partnerships … Continue reading »

8th Annual Fall Food Drive

 

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Food Drop of Dates: October 1– October 31, 2013

 

Borgida & Company, P.C., CPA’s is holding its 8th annual food drive and is now accepting donations of:

 

What:    

Any non-perishable food item.

Items include tuna fish, stews, canned fruits and vegetables, instant potatoes, dried pasta, dried milk, soups, peanut butter, rice, and “sugar free,” “low sodium,” or “no … Continue reading »

When to File Separate Tax Returns to Save Money

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Married couples have a choice when they file their income tax returns.  They can file as married filing jointly or as married filing separately.

 

Married Filing Jointly

Most married couples will file a joint income tax return.  There may be little or no tax savings so they choose to file jointly.

 

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