Blog Archives

How to File a Personal Property Tax Declaration in Connecticut

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


Tagged with: , , , , , , , , , , , , , , , ,

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.


Tagged with: , , , , , , , , , , ,

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


Tagged with: , , , , , , , , , , , , , , , ,

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,


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

6 Proven Reasons to Make a Charitable Donation from Your IRA to Save Money

The American Taxpayer Relief Act of 2012 has temporarily extended the ability of certain taxpayers to make charitable donations from their IRA. The Basics Charitably inclined taxpayers over age 70 1/2 can donate up to $100,000 per year from their


Tagged with: , , , , , , , , , , , , ,