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Why I Asked My Daughter to Give Me a Power of Attorney

Posted in Tax News on July 21, 2013

Recently my daughter turned 18.  In Connecticut this is considered the age of majority.  In other words, she can make her own decisions.  Well, that’s what the law says.  However, she’s still living under my roof, so, well, she’s got…

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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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How to Get an IRS Tax Penalty Waived

Posted in Tax News on April 21, 2013

  The Internal Revenue Service (“IRS”) has many tax penalties for taxpayers that fail to meet certain requirements. Some of these penalties are:

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How to Form an LLC and Protect Your Assets

Posted in Tax News on March 17, 2013

  A Sole-Proprietorship Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form. First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime…

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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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