Posts Tagged ‘Section 179’


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 »


3 Proven Tax Smart Moves For Small Business to Save Money

freeimage-9941920-high1) Adopt a Retirement Plan

A business has several different retirement plans it could adopt.  The most common plan is the 401(k) plan.  With a 401(k) plan the employee is allowed to defer on a pre-tax basis up to $17,500 in 2013. If they are over age 50 they can defer an additional $5,500 in a so-called catch up contribution. An employer may … Continue reading »


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

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 »


Overview of the Tax Provisions in the 2010 Small Business Jobs Act

The recently enacted 2010 Small Business Jobs Act includes a wide-ranging assortment of tax breaks and incentives for small business paid for with various revenue raisers. Here's a brief overview of the tax changes in the new law.


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