The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. Beginning in 2018, Single filers can claim $12,000, Head of Household $18,000 and Married Filing Jointly $24,000. Additionally, the maximum amount that can be deducted for state and…
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…
Borgida & Company, P.C. CPA’s announced it has acquired the practice of Paul L. Watson, CPA, whose practice was located in Coventry, Connecticut. “We are excited to welcome Paul and his clients to our firm”, said Thomas Scanlon, CPA, President of…
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…
Hurricane Sandy has left its devastation.
