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The Difference Between an Asset Sale and a Stock Sale

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Closely Held Businesses looking to negotiate a sale of their business will either do an Asset Sale or a Stock Sale.          


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How to Declare Your State of Residence for Tax Purposes

    Some taxpayers will have more than one home.  For them it’s important to declare their state of residence. There are no specific rules to follow to declare your residence. Establishing residence is actually what your intentions are.


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How to Pay Your Estimated Taxes

  Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.   Other taxpayers may not be employees or have taxes


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The Difference Between an Inherited Asset and a Gift Received

Whether you receive an asset from inheritance or from a gift can have significant tax impact when this asset is sold. Inherited Asset For an inherited asset you generally take this asset over at the Fair Market Value at the


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How to Calculate Your Cost Basis and Save Money…Guaranteed

When you sell a capital asset you need to know when you purchased it and what the cost basis is.  These will be used to determine what your capital gain (or loss) is.  Capital assets are items such as stocks,


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