Blog Archives

4 Reasons NOT to Wait for Your K-1

Posted in Firm News, Tax News on January 6, 2023

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

Tagged with: Amended K-1, April 15th, Beneficiary, Certified Public Accountant, CPA, Estate, extension, Form 1040, Form 1099, Form 2848, Income Tax, Income Tax Penalty, K-1, Limited Liability Company, limited partnership, LLC, Member, Partner, Partnership, Penalty, Stockholder, Sub S, Subchapter S, Subchapter S Corporation, Tax Extension, Tax Penalty, Trust

How Many Trusts Do I Need?

Posted in Tax News on December 6, 2021

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Estate Planning can get tricky. One tool that is frequently used is a trust. Many trusts are set up as revocable (“rev”) trusts. This means the…

Tagged with: beneficaries, Estate Planning, Estate Planning Attorney, grantor, Income Tax, Inheritance, Irrevocable Trust, Rev Trust, Revocable Trust, settlor, Single Pot Trust, Sucessor Trustee, Tax Returns, Trust, trustee

How to File Your FBAR and Sleep (Well) at Night

Posted in Tax News on June 2, 2013

The Report of Foreign Bank and Financial Accounts (“FBAR”) Form TD F 90-22.1 is used to report an interest in foreign financial accounts. Who Must File Any U.S. person with a financial interest or signature authority must file an FBAR…

Tagged with: Corporations, Estate, FBAR, Foreign Bank Account, form 8938, Form TD F 90-22.1, Income Tax, Income Tax Forms, IRS, Limited Liability Company, LLC, Offshore Voluntary Disclosure Initiative, OVDI, Partnership, Tax Amnesty, Tax Penalty, Trust, U.S. Treasury

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

How to Plan Your Estate and Live Happily Ever After

Posted in Tax News on October 9, 2012

Ask many people if they have an estate plan and they just roll their eyes. With the Federal Estate Tax Exclusion at $5.12 million most people will not be subject to estate taxes. In Connecticut, the exclusion is $2 million…

Tagged with: Beneficary, Congress, Connecticut, Durable Power of Attorney, Estate Plan, Estate Planning Attorney, estate tax, Executor, General Power of Attorney, Health Care Proxy, ILIT, Income Tax, Income Tax Return, Intestacy Laws, Irrevocable Life Inrance Trust, Life Insurance, Power of Attorney, Probate Court, Rev Trust, Revocable Trust, Trust

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

Blog Archives

4 Reasons NOT to Wait for Your K-1

How Many Trusts Do I Need?

How to File Your FBAR and Sleep (Well) at Night

Where’s My K-1?

How to Plan Your Estate and Live Happily Ever After

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Latest News

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Get Free Tax Tips

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

Blog Archives

4 Reasons NOT to Wait for Your K-1

How Many Trusts Do I Need?

How to File Your FBAR and Sleep (Well) at Night

Where’s My K-1?

How to Plan Your Estate and Live Happily Ever After

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