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

Posted in Tax News on December 6, 2013

Another 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…

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How to Declare Your State of Residence for Tax Purposes

Posted in Tax News on October 27, 2013

    Some taxpayers will have more than one home.  For them it’s important to declare their state of residence. There are no specific rules to follow to declare your residence. Establishing residence is actually what your intentions are.

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4 Easy Steps to Hiring a Domestic Employee in Connecticut

Posted in Tax News on October 20, 2013

      Are you considering hiring a domestic employee in Connecticut?  If so, take these 4 easy steps:     1) Apply for Tax Identification Numbers To hire an employee you will need to obtain a federal tax identification…

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4 Easy Steps to Respond to an IRS Notice with a 1099 Mismatch

Posted in Tax News on October 13, 2013

  It appears that there are more notices being issued to taxpayers regarding a potential mismatch with a 1099 that was filed. This increase in correspondence might be the result of taxpayers responding to Two Simple Questions Taxpayers Must Carefully…

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3 Proven Reasons a Connecticut Business Owner Should Elect Subchapter S

Posted in Tax News on September 29, 2013

    Business owners of corporations will by default have a “C” Corporation.  If they are eligible and they elect, they could be a Subchapter S (“Sub S”) corporation.       An eligible Sub S corporation meets the following…

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