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How to Pay Estimated Income Taxes and Avoid IRS Penalties

Posted in Tax News on October 27, 2011

Taxpayers must pay their taxes “as they go.”  For many taxpayers, their income taxes are withheld from their paychecks.  For taxpayers that don’t have any withholding, they will need to make estimated tax payments.

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How to Get an IRS Civil Penalty Waived and Keep Your Small Business

Posted in Tax News on September 21, 2011

Recently, we were able to get a $49,000 IRS civil penalty waived for one of our Connecticut business clients.  If we failed to get this penalty waived, this business would have closed its doors.

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The Last Mortgage Refinance

Posted in Tax News on May 13, 2011

What direction do you think interest rates are headed in? Homeowners have ridden the variable interest rate mortgage ride for all it’s worth. The prime rate hit 20% in 1980.  Since then interest rates have been in a long and…

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IRA…All the Way…to Retirement!

Posted in Tax News on January 28, 2011

The IRA (Individual Retirement Arrangement) is one of the more underutilized tools for retirement planning.  The primary benefit to an IRA is tax-deferred investing.  Income taxes are not paid until taxable distributions are made.  With limited exceptions, distributions made prior…

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