Blog Archives

IRA…All the Way…to Retirement!

Posted in Tax News on January 28, 2011

The IRA (Individual Retirement Arrangement) is one of the more underutilized tools for retirement planning. The primary benefit to an IRA is tax-deferred investing. Income taxes are not paid until taxable distributions are made. With limited exceptions, distributions made prior…

Tagged with: 10% Penalty, 401(k) Plan, Active Participant, Adjusted Gross Income, AGI, April 15 2011, April 18 2011, Catch Up Contribution, Defined Benefit Pension Plan, Earned Income, Form 8606, Form W-2, Individual Retirement Arrangement, ira, Married Couple, Nondeductible IRA, Pension Plan, Profit Sharing Plan, Retirement, Retirement Planning, Single, Tax Deductible IRA, Tax-Deferred

Some Taxpayers Must Wait to File 2010 Tax Returns

Posted in Tax News on January 21, 2011

The Internal Revenue Service has announced that some taxpayers will not be able to file their returns until mid to late February 2011 due to last year’s tax changes. The IRS will need to reprogram its processing systems for three…

Tagged with: CPA, Educator Expense Deduction, Form 1040, Form 8917, Income Tax, Internal Revenue Service, IRS, Itemized Deductions, Medical Expenses, Mortgage Interest, Schedule A, Tax Forms, Tax Returns

Seven Things Every Taxpayer Should Know

Posted in Tax News on January 14, 2011

1. Know Your Tax Bracket This is where every taxpayer needs to start. What is your tax bracket? If you don’t know this number, just pull out your tax return from last year. Look at the taxable income and look…

Tagged with: 401(k) Plan, Alternative Minimum Tax, AMT, Capital Gains, CPA, Dependent Care Benefit Plan, Employee Business Expense, Estate Plan, estate tax, Estate Tax Exclusion, Income Tax, ira, Municipal Bonds, Rental Property, roth ira, Self-Employed, Stock Options, Tax Books and Records, Tax Bracket, tax planning, Tax-Deferred, Tax-Free, Taxpayer

How the New Tax Law May Impact You

Posted in Tax News on December 31, 2010

On December 17, 2010, President Obama signed the tax bill into law after months of negotiations, and to our benefit, this law will be in effect for the next two years. Enactment of this tax law confirms that individuals at…

Tagged with: Adjusted Gross Inome, AGI, Alternative Minimum Tax, AMT, Capital Gains Tax, Charity, Donations, Education Credit, Exemptions, Flexible Spending Accounts, FSA, Income Tax, ira, Long Term Capital Gains, Payroll Taxes, President Obama, Qualified Dividends, Sales Tax, Self-Employed, Social Security Tax, State Income Tax, Tax Brackets, Tax Cuts

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

Posted in Tax News on December 24, 2010

Most married couples file their income tax returns jointly. However, married couples have an option—they can file married filing jointly or married filing separately. Married couples can change their filing status from year to year. The only requirement is that…

Tagged with: Adjusted Gross Income, AGI, Divorce, Employee Expenses, Filing Status, Income Tax, Investment Expenses, Itemize Deductions, Married Couple, Married Filing Jointly, Married Filing Separately, Medical Expenses, Miscellaneous Itemized Deductions, Self-Employed, Standard Deduction, Tax Preparation

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
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Blog Archives

Some Taxpayers Must Wait to File 2010 Tax Returns

Seven Things Every Taxpayer Should Know

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

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Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

IRA…All the Way…to Retirement!

Some Taxpayers Must Wait to File 2010 Tax Returns

Seven Things Every Taxpayer Should Know

How the New Tax Law May Impact You

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

Search

Links

Latest News

Categories

Get Free Tax Tips

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885