Financial News

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>>

How Equifax’s Catastrophic Security Breach Could Affect YOU

Portions of this articles were drawn from Consumer.ftc.gov, Irs.gov and Equifax.com

The Equifax data breach exposed the information of nearly half the population of the United States. There is a greater than normal likelihood your data is now in hackers’ hands.  Unfortunately, in addition to long wait times when calling, another  problem in the Equifax dispute is that you have to check with the company to find out if your data was exposed, and that means providing them with even … Continue reading »

Credit Card ID Theft: How to Protect Your Cards (Part 3)

From the IRS website: 

Credit Card Loss or Fraudulent Charges Under the Fair Credit Billing Act, your liability for unauthorized use of your credit card tops out at $50. However, if you report the loss before your credit card is used, the FCBA says you are not responsible for any charges you didn’t authorize. If your credit card number is stolen, but not the card, you are not liable for unauthorized use.

ATM or Debit Card Loss or Fraudulent TransfersContinue reading »

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