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Filing Your Personal Property Declaration in Connecticut

Posted in Small Business, Tax News on October 19, 2022

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT.   All Connecticut business owners that own personal property must file a Personal Property Tax Declaration in the town that business resides in by November 1,…

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How to File a Personal Property Tax Declaration in Connecticut

Posted in Small Business, Tax News on October 2, 2018

All Connecticut business owners that own personal property must file a Personal Property Tax Declaration by November 1, 2018. Failure to file this declaration or filing late will result in a penalty equal to 25% of the assessed value of…

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How to Declare Your State of Residence for Tax Purposes

Posted in Tax News on October 27, 2013

    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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The Difference Between an Inherited Asset and a Gift Received

Posted in Tax News on August 18, 2013

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

Posted in Tax News on August 11, 2013

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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