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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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Where’s My K-1?

Posted in Tax News on March 10, 2013

  This question is asked frequently during tax season. I suspect it will be asked even more this tax season. There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act…

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The Last (Really BIG) Tax-Free Gift

Posted in Tax News on December 10, 2012

Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate…

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Why the Fiscal Cliff is Fiscally Irresponsible

Posted in Tax News on December 3, 2012

  The Federal Government and the country are set to go off the Fiscal Cliff on New Year’s Day.   The term Fiscal Cliff refers to number of laws that if they remain unchanged, could result in significant tax increases…

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How to Plan Your Estate and Live Happily Ever After

Posted in Tax News on October 9, 2012

Ask many people if they have an estate plan and they just roll their eyes.  With the Federal Estate Tax Exclusion at $5.12 million most people will not be subject to estate taxes.  In Connecticut, the exclusion is $2 million…

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