How to Declare Your State of Residence for Tax Purposes

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Some taxpayers will have more than one home.  For them it’s important to declare their state of residence. There are no specific rules to follow to declare your residence. Establishing residence is actually what your intentions are.

4 Easy Steps to Hiring a Domestic Employee in Connecticut

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Are you considering hiring a domestic employee in Connecticut?  If so, take these 4 easy steps:

 

 

1) Apply for Tax Identification Numbers

To hire an employee you will need to obtain a federal tax identification number.  This is done by completing Form SS-4, Application For Employer Identification Number (EIN). This form … Continue reading »

4 Easy Steps to Prepare Your Connecticut Personal Property Tax Declaration

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For Connecticut business owners their 2013 personal property tax declaration report is due by November 1, 2013.  A report must be filed in each town that the business owns personal property. Unlike real estate and vehicles, personal property is self-reported.  With real estate the town will periodically do an … Continue reading »

4 Easy Steps to Respond to an IRS Notice with a 1099 Mismatch

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It appears that there are more notices being issued to taxpayers regarding a potential mismatch with a 1099 that was filed.

This increase in correspondence might be the result of taxpayers responding to Two Simple Questions Taxpayers Must Carefully Answer This Year. The two questions are:

“Did you make any payments that would require you to file … Continue reading »

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:

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