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Why Every Week is "Shark Week" for the Self-Employed in Connecticut

Posted in Tax News on July 30, 2010

This is “Shark Week” on the Discovery Channel.  We are (not so gently) reminded not to swim with the sharks. For the self-employed in Connecticut, every week is “Shark Week”.  A self-employed person is someone who runs their business as…

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Why You Should Not Represent Yourself in an IRS Audit

Posted in Tax News on July 23, 2010

Most taxpayers should not represent themselves in an IRS audit.  Most taxpayers should have their CPA or tax preparer represent them.  If they hire their CPA, they should not accompany them to the audit.  Why?  They might be tempted to…

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New Tax Benefits for Employers Who Hire and Retain Unemployed Workers

Posted in Tax News on July 22, 2010

FEDERAL TAX BENEFITS Under the federal Hiring Incentives to Restore Employment (HIRE) Act, two new tax benefits are available to employers who hire workers who were previously unemployed (“qualified employees”).

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Health Care Reform: Tax Issues for Businesses

Posted in Small Business, Tax News on July 22, 2010

The health care reform legislation that was recently enacted includes new taxes, but there are also some tax breaks available to help small businesses pay for health insurance.  Two of the changes getting a lot of attention: a tax credit…

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Health Care Reform: Tax Changes for Individuals

Posted in Small Business, Tax News on July 21, 2010

The health-care reform legislation that was recently signed into law contains a number of tax changes. Some of these changes take effect immediately; others won’t have an impact for a few years. Here’s a year-by-year breakdown of some of the…

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