Blog Archives

The Difference Between a C Corporation and a Subchapter S Corporation

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT.   Business owners can maintain their corporation as a regular or “C” Corporation. Alternatively, if they are eligible, they may want to make a Subchapter S Election.


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5 Easy Steps to Opening a Business in Connecticut

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT.   1) Meet With Your CPA and Attorney The first step is to meet with your CPA and Attorney. Your CPA should be able to review your


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Why Some Small Businesses Should NOT be an LLC

The Limited Liability Company (“LLC”) certainly has become a popular form of business entity. If there is only one member (owner) then setting up these entities has become a breeze. Just go online, fill out some forms, pay the registration


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Why You Should Not Discard Your Form 1099-K

  If you get a Form 1099-K in 2013, don’t ignore it. The new form records payments received in 2012 by credit card companies or through third-party networks such as Amazon, PayPal, and Google. This added income reporting mechanism was


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4 Reasons to Get IRS Form W-9

  1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year Two simple questions were added to the income tax returns last year.  These were: “Did you make any payments in 2011 that would require you to


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