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.…
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…
Another year will end soon. There is (very) little tax planning that can be done after the year-end. With the maximum federal income tax bracket of 39.6% and the maximum State of Connecticut income tax bracket of 6.5% there is…
For Connecticut business owners their 2013 personal property tax declaration report is due by November 1, 2013. A report must be filed in each town that the business owns personal property. Unlike real estate and vehicles, personal property is self-reported. …
Capital Assets Capital assets are generally those held for investment. Stocks, bonds and mutual funds are some examples. If there is a gain on the sale of these assets, a capital gains tax is due.
