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How a Small Partnership Can Get The Failure to File Penalty Waived

Posted in Tax News on May 26, 2013

Face it, no one likes to get letter from the Internal Revenue Service (“IRS”). This is particularly true when you are being assessed a penalty. The IRS has many different penalties.  One penalty they have is the failure to file…

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Tom Scanlon, CPA Interview Today on Blog Talk Radio

Posted in Tax News on May 22, 2013

        Tom will be interviewed today on Blog Talk Radio by Susan Preston and Larisa Dickson from Socializing Your Business at 1:00pm EST. They will be discussing things like “How to work with your CPA” and “Minimizing…

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3 Reasons to Fund a 529 College Savings Plan

Posted in Tax News on May 19, 2013

  1) College is Expensive According to the College Board the average tuition for a 4 year private education is $39,518 per year.  The average cost of a 4 year in- state public education is $17,860.  Either way, it’s a…

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Happy Tax Freedom Day 2013 to Connecticut Taxpayers

Posted in Tax News on May 12, 2013

  Tax Freedom Day for the country was on April 18, 2013. This is the day when, on average, taxpayers have paid all of their taxes for the year and now begin to keep what they earn.  Tax Freedom Day…

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5 Lessons Learned From Tax Season

Posted in Tax News on May 5, 2013

Another Tax Season has come and gone.  Here are the 5 Lessons Learned from this Tax Season.  1) Don’t Pass Tax Legislation on December 31 Congress passed the American Taxpayer Relief Act on December 31, 2012.  It’s clear that no…

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