Posts Tagged ‘Subchapter S’


4 Reasons NOT to Wait for Your K-1

Four on dices

Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1’s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity.  Don’t wait for this form to get started on your income tax return.


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 »


Why The New Medicare Tax May Cost You More Money

Current Medicare Tax

Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to the government. A self-employed individual is considered to be both the employer and employee and therefore currently pays 2.9% Medicare Tax.


The Difference Between an LLC and a Subchapter S Corporation

Startup businesses are often considering either a Limited Liability Company ("LLC") or a Subchapter S Corporation.  Here are the differences:


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

This week is Shark Week on the Discovery Channel.  Last year, we told you how every week is "Shark Week" for the self-employed in Connecticut.  Now, a year later, there is even more blood in the water.


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