6 Reasons Small Business Owners Should Meet With Their CPA Before Year-End

December 17, 2012 Tax News 0 Comments Print this page Share

There are a host of reasons small business owners should meet with their CPA.  Here are 6 of them:

 

1) Method of Accounting

Smaller business can usually file their tax returns on the cash basis of accounting.  The taxable income is based on the revenue received less the deductible expenses. Larger companies must prepare their tax return using the accrual basis of accounting.  The accrual basis matches the … Continue reading »

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7 Things Connecticut Taxpayers Should Do Before Filing Their Income Tax Return

April 3, 2012 Tax News 0 Comments Print this page Share

1) Don't panic. The returns are due on April 17th this year. This is due to April 15th falling on the weekend and April 16th being a holiday in Washington DC. If you can't get your return completed and filed on time, file an extension. The federal form is 4868 and the Connecticut form is CT-1040-EXT. This will allow you until October 15th … Continue reading »

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4 Ways to Help Your CPA and Reduce Your Taxes

December 20, 2011 Tax News 2 Comments Print this page Share

Here are 4 ways to Help Your CPA and Reduce Your Taxes:

1) Have a Year End Planning Meeting with Your CPA

This meeting can be in person or over the phone, it really doesn't matter.  The only thing that matters is that it happens.  Most individual income taxpayers are on the cash basis.  This means, with some limited exceptions, for a taxpayer to take advantage of … Continue reading »

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The Difference Between an LLC and a Subchapter S Corporation

November 17, 2011 Tax News 2 Comments Print this page Share

Startup businesses are often considering either a Limited Liability Company ("LLC") or a Subchapter S Corporation.  Here are the differences:

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