Financial News

Understanding the New 20% Pass-Through Income Tax Deduction

In December, 2017 President Trump signed the new tax bill.  This is known as the Tax Cuts and Jobs Act (TCJA).  What received a lot of attention in the media was the tax cuts for individuals. For Connecticut taxpayers, check out Four Easy Steps for CT Taxpayers to Plan for Their 2018 Income Tax.

Also, as part of the TCJA, for eligible entities, there is a new 20% Pass-Through Deduction, which is also known as a Section 199A deduction.  … Continue reading »

NEW Bill: Connecticut’s Response to the Tax Cuts & Jobs Act of 2017

In December, 2017 President Trump signed the new tax bill.  This is known as the Tax Cuts and Jobs Act (TCJA).  What received a lot of attention in the media were the tax cuts for individuals. For CT taxpayers, check out Four Easy Steps for CT Taxpayers to Plan for Their 2018 Income Tax.

 

 

In response to the federal tax reform legislation, the Connecticut General Assembly has sent the … Continue reading »

Four Easy Steps for CT Taxpayers to Plan for their 2018 Income Tax

1. Know the Tax Law Changes

 

In December 2017 President Trump signed the new tax bill.  This new law is known as the Tax Cuts and Jobs Act (TCJA).  Much of the discussion surrounding the TCJA is tax cuts for individual taxpayers.

 

Overall income tax rates were cut.  The highest federal income tax rate which was 39.6% has been cut to 37%.  This is one of many other … Continue reading »

A Summary of the Proposed Tax Law & How It Affects You

The US senate passed their version of the tax reform – the Cuts and Jobs Act – on December 2nd.  The bill differs from the version that the House passed last month, which means the 2 houses will have to reconcile their differences before a final bill can be voted on and passed before it can be presented to the President for his signature.

 

Senate Version

New brackets & break points. The Act would provide seven tax brackets for … Continue reading »

CT DOL Kicks This Can Further Down The Road

CT Retirement Security Authority Issues Employer Advisory Regarding Savings Plan Implementation Date: deferred until January 1, 2018.

>>Read the complete media release>>