Blog Archives

6 Easy Steps to Open an Estate in Connecticut

Posted in Estate Planning, Tax News on August 5, 2012

1) Go to Probate Court and Get Your Appointment A decedent will list their executor (or executrix) in their will. If the decedent did not name one or did not have a will, the court will appoint someone to…

Tagged with: Connecticut Estate, Connecticut Probate Court, CT DRS, Death Certificate, DRS, Estate, estate tax, Executor, Fiduciary Relationship, Form 1040, Form 1041, Form 56, Form 8822, Form CT-8822, Form SS-4, Income Tax, Probate Court, Tax Indetification Number, Trust

Why Every Week is ‘Mob Week’ for Connecticut Taxpayers

Posted in Tax News on July 29, 2012

This week is Mob Week on AMC. We get to watch classic Mob movies like The Godfather, Scarface and The Untouchables. Unfortunately every week is Mob Week for Connecticut taxpayers. In 2011 the State of Connecticut passed their…

Tagged with: 401(k) Plan, AMC, CHET, Connecticut Estate Tax, Connecticut Income Tax, Connecticut municipal bonds, Connecticut Sales tax, Connecticut Self-Employed, Connecticut Taxpayers, Eddie Lampert, ESL Investments, estate tax, Income Tax, ira, Michael Corleone, Mob Week, Municipal Bonds, Roth 401(k) Plan, roth ira, Scarface, Self-Employed, SIMPLE Plan, Social Security Tax, The Godfather, The Untouchables, Unincorporated Business

2012 Tax Benefits Increase Due to Inflation Adjustments

Posted in Tax News on February 22, 2012

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:

Tagged with: 401(k) Plan, 457(6) plan, Charitable Contribution, child tax credit, CPA, Dependents, Donations, Employee, estate tax, Exemption, Gift Tax, Income Tax, Inflation, Internal Revenue Service, IRS, Itemized Deductions, Mortgage Interest, Personal Exemption, Social Security, Social Security Administration, Standard Deduction, Taxpayer, thrift saving plan, wage base

How to Maximize Your Annual Gifts and Minimize Your Estate Taxes

Posted in Tax News on February 15, 2012

Annual Exclusion Taxpayers are allowed to gift up to $13,000 per year to an unlimited number of people without having to file a gift tax return or pay a gift tax. If the amount goes over $13,000 to any one…

Tagged with: Annual Exclusion, Annual Gift Tax Exclusion, Books, College Tuition, Congress, Connecticut, CT, Donors, education expense, estate tax, Federal Estate Tax, Form 4868, Form 709, form ct-706/709, Gift, Gift Tax, Gift Tax Annual Exclusion, Gift Tax Return, Internal Revenue Service, IRS, Medical Expense, Room and Board, state, State of Connecticut, Tuition

5 Reasons Donors Should Give Appreciated Property

Posted in Tax News on November 10, 2011

Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis. Cost basis is generally what was paid for an item.

Tagged with: Adjusted Gross Income, AGI, Appreciated Property, Asset, Avoid Capital Gains Tax, Capital Gains, Captial Gains Tax, Cash Donation, Cash Donations, Charitable Donation, Charities, Charity, Connecticut, Connecticut Estate Tax, Cost Basis, CT, CT Estate Tax, Donation, Donors, economy, Estate, Estate Planning, estate tax, Fair Market Value, Federal Estate Tax, Federal Income Tax, Income Tax, Itemized Deductions, Property, Restricted Gift, Schedule A, Standard Deduction, Stock, Unrestricted Gift

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

6 Easy Steps to Open an Estate in Connecticut

How to Maximize Your Annual Gifts and Minimize Your Estate Taxes

5 Reasons Donors Should Give Appreciated Property

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Branford, CT 203.208.0572 Manchester, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

6 Easy Steps to Open an Estate in Connecticut

Why Every Week is ‘Mob Week’ for Connecticut Taxpayers

2012 Tax Benefits Increase Due to Inflation Adjustments

How to Maximize Your Annual Gifts and Minimize Your Estate Taxes

5 Reasons Donors Should Give Appreciated Property

Search

Links

Latest News

Categories

Get Free Tax Tips

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885