Posts Tagged ‘IRS’


How Equifax’s Catastrophic Security Breach Could Affect YOU

Portions of this articles were drawn from Consumer.ftc.gov, Irs.gov and Equifax.com

The Equifax data breach exposed the information of nearly half the population of the United States. There is a greater than normal likelihood your data is now in hackers’ hands.  Unfortunately, in addition to long wait times when calling, another  problem in the Equifax dispute is that you have to check with the company to find out if your data was exposed, and that means providing them with even … Continue reading »


Changes to the Federal Application for Federal Student Aid (FAFSA)

College students need to complete the Application for Federal Student Aid (FAFSA) to qualify for any needed financial aid. Two new changes have taken affect for the new FAFSA process:

  • You can now submit the FAFSA form as early as Oct 1st., instead of the previous Jan 1 submission date.  This is not the deadline, but students who apply earlier tend to receive more aid.
  • Going forward, you can base your answers on your federal tax return from the … Continue reading »

    3 Proven Steps for Taxpayers to Survive Tax Season

     

    melting ice cubes

    1)Be Prepared

    Ah yes, the Boy Scout Motto, “Be Prepared”.  It is very applicable to surviving tax season. How can you get prepared?  Start with completing your tax organizer.  We send these out to our clients in early January.  This will contain all of the prior year information.  Some clients don’t like filling out the tax organizer.  That’s fine. … Continue reading »


    How to File Your Form 1099’s and Avoid IRS Penalties

    moneyDetermine Who Needs to Be Issued a 1099

    A Form 1099 needs to be issued to any unincorporated business that you paid $600 or more.  An unincorporated business includes Limited Liability Companies (LLC’S), Partnerships and Sole Proprietors.   Additionally, a 1099 needs to be issued for all legal services rendered irrespective of whether the law firm is incorporated or not.

    Continue reading »


    3 Proven Reasons a Connecticut Business Owner Should Meet With Their CPA Before Year-End

    Borgida building manchesterAnother year will end soon.  There is (very) little tax planning that can be done after the year-end.  With the maximum federal income tax bracket of 39.6% and the maximum State of Connecticut income tax bracket of 6.5% there is a lot of tax dollars on the table. Here are 3 proven reasons a Connecticut business owner should meet with their … Continue reading »


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