scarbble tires spell "blog"

Connecticut Unemployment Fund to Assess Employers

Unemployment Insurance benefits are financed by employers through the payment of taxes. Because of the severe economic recession, unemployment has risen to a current level of 9.1% nationally. In October of 2009, Connecticut’s Unemployment Trust Fund became insolvent and in

Tagged with: , , , , , , , , ,

The Importance of Beneficiary Designations

When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago?  Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death.  You

Tagged with: , , , , , , , , , , , , , , , , , , , , ,

What is Reasonable Compensation and Why Closely Held Business Owners Should Be Concerned

This is a big issue with the IRS and closely held C corporations right now.  The focus is whether or not the owners-employees, as well as family members, are reducing their profits through large salaries and bonuses.

Tagged with: , , , , , , , , , ,

How Does the Statue of Limitations Affect Tax Obligations With the IRS?

The statute of limitations limits the time during which an action can be brought by the IRS for an audit and the time for IRS tax collection activities.  Generally, there is a 3-year period for the IRS to give you

Tagged with: , , , , , , , , , , ,

Happy Tax Freedom Day 2011

According to the Tax Foundation, Tax Freedom Day this year is April 12, 2011.  This is the day you stop working for the government and start working for yourself. This includes federal, state and local taxes. Unfortunately this is three

Tagged with: , , , , , , , ,