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The Difference Between an Asset Sale and a Stock Sale

Posted in Small Business, Tax News on May 18, 2023

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Closely Held Businesses looking to negotiate a sale of their business will either do an Asset Sale or a Stock Sale. …

Tagged with: Amortization, Asset Acquisition Statement, Asset Sale, Attorney, Capital Gains, Captial Gains Tax, CPA, Customer Lists, Depreciation, Goodwill, Intangible Assets, Internal Revenue Service, IRS, IRS Form 8954, Non- compete agreement, Ordinary Income, Purchase and Sale Agreement, Stock Sale

The Difference Between a C Corporation and a Subchapter S Corporation

Posted in Tax News on June 17, 2021

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.…

Tagged with: Amortization, asset purchase, Asset Purchase Agreement, Business Owner, C Corporation, Corporation, Depreciation, Double Tax, employer fringe benefit, Flow Through, form k-1, Form W-2, fringe benefit, Health Care Premium, Income Tax, individual income tax, long term care, long term care premiums, S Corporation, S Election, Stock Purchase Agreement, Stock Sale, Stockholders, Sub S, Subchapter S Corporation, Subchapter S Election, Tax Free Fringe Benefit, Tax Return, tax year end, W-2

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…

Tagged with: Audit, Connecticut, Connecticut Business Owner, Cost Basis, CT, Depreciation, Depreciation Schedule, Fixed Assets, Machinery, Penalty, Personal Property Tax Declaration, Real Estate, Real Property, Tax Elections, Tax Revenue, Town Assessor, Vehicle

3 Proven Reasons a Connecticut Business Owner Should Meet With Their CPA Before Year-End

Posted in Tax News on December 6, 2013

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…

Tagged with: 401 (K) Plan, C Corporation, Certified Public Accountnat, Connecticut, Connecticut Business Owner, Connecticut Estimated Income Tax, Connecticut Income Tax, CPA, Defined Benefit Plan, Depreciation, double taxation, Internal Revenue Service, IRS, Pension Plan, Profit-Sharing, retirement plan, Section 179, SEP, Simplified Employee Pension, Sub S, Subchapter S

4 Easy Steps to Prepare Your Connecticut Personal Property Tax Declaration

Posted in Tax News on October 14, 2013

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. …

Tagged with: Assessment, capital lease, Certified Public Accountant, Connecticut, Connecticut Business, CPA, Depreciation, Depreciation Schedule, extension, Fixed Assets, Good Cause, Lease Agreement, Penalty, Personal Property Tax Declaration, Real Estate, Rental Real Estate, Tax Extension, Tax Penalty, Town Assessor

Branford, CT 203.208.0572
Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

The Difference Between an Asset Sale and a Stock Sale

The Difference Between a C Corporation and a Subchapter S Corporation

How to File a Personal Property Tax Declaration in Connecticut

4 Easy Steps to Prepare Your Connecticut Personal Property Tax Declaration

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Branford, CT 203.208.0572 Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

The Difference Between an Asset Sale and a Stock Sale

The Difference Between a C Corporation and a Subchapter S Corporation

How to File a Personal Property Tax Declaration in Connecticut

3 Proven Reasons a Connecticut Business Owner Should Meet With Their CPA Before Year-End

4 Easy Steps to Prepare Your Connecticut Personal Property Tax Declaration

Search

Links

Latest News

Categories

Get Free Tax Tips

Branford, CT 203.208.0572
Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885