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5 Lessons Learned From Tax Season

Posted in Tax News on May 5, 2013

Another Tax Season has come and gone. Here are the 5 Lessons Learned from this Tax Season. 1) Don’t Pass Tax Legislation on December 31 Congress passed the American Taxpayer Relief Act on December 31, 2012. It’s clear that no…

Tagged with: ACA, Affordable Care Act, American Taxpayer Relief Act, April 15th, Certified Public Accountant, Congress, CPA, E-File, Electronic File, extension, Form 1065, Form 8879, Income Tax, income tax extension, Income Tax Forms, Internal Revenue Service, IRS, K-1, limited partnership, Obama Care, Partnership, Partnership Tax Return, Tax Season

Where’s My K-1?

Posted in Tax News on March 10, 2013

This question is asked frequently during tax season. I suspect it will be asked even more this tax season. There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act…

Tagged with: April 15th, Certified Public Accountant, Congress, Connecticut, CPA, Estate, extension, Form 1040-X, Form 1041, Form 1065, Form 1120S, Form 4868, Form CT-1040-Ext, Income Tax, IRS, K-1, Limited Liability Company, LLC, Partnership, President Obama, Subchapter S Corporation, Tax Season, Trust

4 Reasons to Get IRS Form W-9

Posted in Tax News on August 28, 2012

1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year Two simple questions were added to the income tax returns last year. These were: “Did you make any payments in 2011 that would require you to…

Tagged with: Attorney, Back up withholding, Congress, Corporation, Form 1065, Form 1099, Form 1120, Form W-9, Income Tax, Internal Revenue Service, IRS, Limited Liablity Company, LLC, Partnership, Penalty, Reasonable Cause, Schedule C, schedule E, Sole Proprietorship, Tax Gap, Tax Identification Number, Tax Penalty, Unincorporated Business

The Difference Between an LLC and a Subchapter S Corporation

Posted in Tax News on November 17, 2011

Startup businesses are often considering either a Limited Liability Company (“LLC”) or a Subchapter S Corporation. Here are the differences:

Tagged with: Connecticut, CT, Department of Labor, Department of Revenue Services, Elect Sub S, Employees, Estimated Taxes, Form 1065, Form 1120S, Form 2553, Form W-2, Income Tax, Limited Liability Company, LLC, Losses, Members, Partners, Partnership, Profit, Schedule K-1, Secretary of State, Shareholders, Single Member LLC, Startup, Startup Business, Stockholder, Stockholders, Sub S Election, Subchapter S, Subchapter S Corporation, Subchapter S Election, Tax Withholding

How to Give a Power of Attorney to Your CPA to Deal With the IRS

Posted in Tax News on September 29, 2011

Today’s routine is similar to many other days until you started opening your mail. In today’s mail is a notice that you are being audited by the IRS. Now what do you do? Give your CPA a Power of Attorney.

Tagged with: Audit, Certified Public Accountants, Civil Penalty, Connecticut, CPA, CT, Department of Revenue Service, DRS, Employment Tax, Excise Tax, Form 1040, Form 1041, Form 1065, Form 1120, Form 2848, Form LGL-001, Income Tax, Internal Revenue Service, Internal Revenue Service Audit, IRS, IRS Audit, IRS Representative, POA, Power of Attorney, Social Security Number, Taxpayers

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

Blog Archives

5 Lessons Learned From Tax Season

Where’s My K-1?

4 Reasons to Get IRS Form W-9

The Difference Between an LLC and a Subchapter S Corporation

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

Blog Archives

5 Lessons Learned From Tax Season

Where’s My K-1?

4 Reasons to Get IRS Form W-9

The Difference Between an LLC and a Subchapter S Corporation

How to Give a Power of Attorney to Your CPA to Deal With the IRS

Search

Links

Latest News

Categories

Get Free Tax Tips

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