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4 Easy Ways for Taxpayers to Take the Hippocratic Oath

Posted in Tax News on October 16, 2012

All Physicians must take the Hippocratic Oath.  This is an oath where they swear to practice ethically. Although there is some debate about the translation, the main theme is, ‘First, Do No Harm.’ All taxpayers need to take the Hippocratic…

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How to Plan Your Estate and Live Happily Ever After

Posted in Tax News on October 9, 2012

Ask many people if they have an estate plan and they just roll their eyes.  With the Federal Estate Tax Exclusion at $5.12 million most people will not be subject to estate taxes.  In Connecticut, the exclusion is $2 million…

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4 Reasons Everyone Should Contribute to a Roth IRA

Posted in Tax News on September 25, 2012

1) Tax – Free Distributions If the Roth IRA account is open for at least 5 years and the taxpayers is over age 59 1/2, then all of the distributions from the Roth IRA are tax-free.   2) Take Your…

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How a Connecticut ‘C’ Corporation can claim the Neighborhood Assistant Act Credit

Posted in Tax News on September 14, 2012

  Connecticut ‘C’ Corporations can avail themselves to the Connecticut Neighborhood Assistance Act Credit. The concept of the credit is to promote funding for tax exempt and municipal organizations by providing a Connecticut income tax credit for ‘C’ Corporations. Click…

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6 Easy Steps to Navigate an IRS Audit and Save You (Tax) Money

Posted in Tax News on September 11, 2012

1) Determine if this is an IRS Field, Office or Correspondence Audit With a Field Audit, the audit will be done at your place of business. Most taxpayers requests that the audit be moved and done at your CPA’s office.…

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