Blog Archives

4 Reasons NOT to Wait for Your K-1

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


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3 Smart Reasons to Use IRS Form 911

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Do you have an IRS issue and you can’t seem to get it resolved?  You’re not alone.   Back in the day, if you had an


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Don’t Forget to File Forms 1099 & 1096

form 1099-misc

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. The IRS requires business taxpayers to report amounts paid as non-employee compensation on Form 1099-NEC.   The non-employee compensation will be reported in box one of


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How Many Trusts Do I Need?

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


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The Difference Between an Asset Sale and a Stock Sale

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Closely Held Businesses looking to negotiate a sale of their business will either do an Asset Sale or a Stock Sale.          


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