Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. The standard mileage rate for business travel will be 65.5 cents per mile, up three cents…
Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. The standard mileage rate for business travel will be 65.5 cents per mile, up three cents…
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. Non-employee compensation will be reported in box one of the…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. All Connecticut business owners that own personal property must file a Personal Property Tax Declaration in the town that business resides in by November 1,…
In recognition of recent gasoline price increases, the optional standard mileage rate for the final six months of 2022 has been increased. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for…
Reduced Interest and No Penalties Offered through January 31, 2022 HARTFORD, Connecticut / October 28, 2021 – Connecticut Department of Revenue Services (DRS) Commissioner Mark Boughton today announced the 2021 Tax Amnesty program offering individuals and businesses the opportunity to…
