Blog Archives

How a Small Partnership Can Get The Failure to File Penalty Waived

Posted in Tax News on May 26, 2013

Face it, no one likes to get letter from the Internal Revenue Service (“IRS”). This is particularly true when you are being assessed a penalty. The IRS has many different penalties. One penalty they have is the failure to file…

Tagged with: Certified Public Accountant, CPA, Failure to File, Failure to File Penalty, Form 2848, General Partnership, Income Tax Penalty, Internal Revenue Service, IRS, Limited Liability Company, LLC, Partners, Partnership, Partnership Tax Return, POA, Power of Attorney, Rev Proc 84-35, Small Partnership, Statue of Limitations, Tax Penalty

How to Form an LLC and Protect Your Assets

Posted in Tax News on March 17, 2013

A Sole-Proprietorship Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form. First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime…

Tagged with: Attorney, Connecticut, Contractor, Creditors, D/B/A, Employees, Legal Counsel, Limited Liability Company, LLC, Operating Agreement, Self-Employed, Sole Proprietorship, Sub Contractor, Tax Identification Number, Workers Comp

Where’s My K-1?

Posted in Tax News on March 10, 2013

This question is asked frequently during tax season. I suspect it will be asked even more this tax season. There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act…

Tagged with: April 15th, Certified Public Accountant, Congress, Connecticut, CPA, Estate, extension, Form 1040-X, Form 1041, Form 1065, Form 1120S, Form 4868, Form CT-1040-Ext, Income Tax, IRS, K-1, Limited Liability Company, LLC, Partnership, President Obama, Subchapter S Corporation, Tax Season, Trust

5 Easy Steps to File Your 1099’s….Guaranteed

Posted in Tax News on January 6, 2013

It’s time for business owners to file their 1099’s. Here are 5 Easy Steps to do this: 1) Determine who you will be Required to File a 1099 For Form 1099 is due to any independent contractor who is unincorporated…

Tagged with: Contractor, Form 1096, Form 1099, Form 1099-MISC, Form W-9, General Partnership, Identidy Fraud, Income Tax, Independent Contractor, Internal Revenue Service, IRS, Landlords, Limited Liability Company, LLC, Partnership, Real Estate, Social Security Number, Social Security Tax, Sole Proprietorship, Sub Contractor, Tax Identification Number, Twenty Factor Test, Unemployment Tax, Workers Compensation

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

Posted in Tax News on December 17, 2012

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…

Tagged with: Accelerated Deprection, accrual basis, Bonus, C Corporation, Cash Basis, CPA, Estimated Taxes, Income Tax, Income Tax Penalty, income tax planning, Limited Liability Company, LLC, Partnership, Profit Sharing Plan, retirement plan, S Corporation, S Election, Section 179, SEP, SIMPLE Plan, Simplified Employee Pension, Sole Proprietorship, Stockholder, Subchapter S Election, Tax Penalty, Withholding, Year- End Tax Planning

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

Blog Archives

How a Small Partnership Can Get The Failure to File Penalty Waived

How to Form an LLC and Protect Your Assets

Where’s My K-1?

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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

How a Small Partnership Can Get The Failure to File Penalty Waived

How to Form an LLC and Protect Your Assets

Where’s My K-1?

5 Easy Steps to File Your 1099’s….Guaranteed

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

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