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Haven't Filed Your 2010 Tax Return Yet? File an Extension!

Posted in Tax News on April 6, 2011

It’s that time of year again….time to file your income tax return. What if you can’t get it done or don’t have all of your material to prepare it? File for an extension. To file an extension, complete Form 4868,…

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Why Every Week is "Shark Week" for the Self-Employed in Connecticut

Posted in Tax News on July 30, 2010

This is “Shark Week” on the Discovery Channel.  We are (not so gently) reminded not to swim with the sharks. For the self-employed in Connecticut, every week is “Shark Week”.  A self-employed person is someone who runs their business as…

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Do I have to File IRS Form 5500?

Posted in Tax News on July 2, 2010

Employers that maintain a qualified retirement plan must file IRS Form 5500–Annual Return/ Report of Employee Benefit Plan.  Qualified retirement plans include defined benefit, profit-sharing, money purchase, and 401(k) plans.  SIMPLE and SEP plans do not have to file this…

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Five Last Minute Tax Deductions

Posted in Tax News on March 27, 2010

April 15th is near and you’re looking for a few more tax deductions.  Look no further.  Here are five last minute tax deductions.

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Self- Employed and Looking for a Last Minute Tax Deduction? Consider a SEP.

Posted in Tax News on March 13, 2010

A Simplified Employee Pension (SEP) is a retirement plan that self-employed people should take a look at.  To adopt a SEP plan an employer needs to complete IRS Form 5305-SEP.  This form is not filed with the IRS; the employer…

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