The State of Connecticut Budget proposal includes a conveyance tax on buyers of real estate.  The tax imposed would be 1% of the purchase price on homes purchased above $150,000.  Here are 3 reasons this proposal should not be passed: more…

When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago?  Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death.  You may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children since your retirement plan account was established. more…

January 31, 2011 is the deadline to furnish Form 1099-MISC to recipients.  The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient.  This category includes payments made by businesses as fees to attorneys, service providers, and freelancers.  Other types of payments covered by the 1099-MISC include reimbursement for auto expenses, awards and bonuses, commissions, prizes, and vacation allowances for nonemployees.  A payer of rents and royalties must also file this tax document. more…

January 31, 2010 is the deadline to furnish Form 1099-MISC to recipients.  The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient.  more…