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9 Easy Steps for a Mid-Year Tax Review

Posted in Tax News on June 12, 2012

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Half of the year is almost over. Don’t wait until the end of the year to do your planning. It’s time for your Mid-Year Tax Review. …

Tagged with: 401(k) Plan, Capital Gains, charitable donatations, Donations, estimated tax payments, Form 1040-ES, Form CT-1040-ES, form ct-w-4, Form W-4, gift tac, Gift Tax Return, Income Tax, income tax planning, Investors, ira, Long Term Capital Gains, Required Minimum Distribution, Retirees, RMD, roth conversion, roth ira, Self-Employed, Withholding

4 Reasons to File Form 1099

Posted in Tax News on June 5, 2012

1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous. This form needs to be issued to all unincorporated vendors. An unincorporated business is one that is a sole proprietorship, partnership…

Tagged with: Attorney, Backup Withholding, Form 1096, Form 1099, Form 1099-MISC, Form CT-1096, Form W-9, Income Tax, Incorporated, Independent Contractors, Legal Services, Limited Liability Company, LLC, Partnership, Rents, Sole Proprietorship, Tax Filing Requirements, Tax Gap, Underground Economy, Unincorporated

The Difference Between the FBAR and IRS Form 8938

Posted in Tax News on May 15, 2012

Investors with offshore accounts must be familiar with the filing requirements of the FBAR and IRS Form 8938. FBAR Any U.S person with offshore accounts that had more than $10,000 in them any time during the year must file…

Tagged with: Civil Penalty, Corporation, Electronic File, Estates, FBAR, Foreign Assets, form 8938, Form TD F 90-22.1, Income Tax, Internal Revenue Service, Investors, IRS, Married Filing Jointly, Offshore Accounts, Partnerships, Report of Forreign Bank and Financial Account, Statement of Specified Foreign Asset, Trusts

How (and When) to File an Income Tax Extension

Posted in Tax News on April 10, 2012

Due Date The federal income tax returns are normally due on April 15th. This year, the 15th falls on a Sunday, so the due date should be Monday the 15th. However, Monday the 16th is Emancipation Day so the due…

Tagged with: April 15, April 17, Connecticut, Connecticut Income Tax Extension, Connecticut Taxpayer, CT, extension, Form 4868, Form CT-1040-Ext, form k-1, Income Tax, income tax extension, Income Tax Penalty, Income Taxes, Individual Retirement Arrangement, Interest, Internal Revenue Service, Investments, ira, IRS, October 15th, Penalty, roth ira, SEP, Simplified Employee Pension, Tax Extension, Tax Penalty

7 Things Connecticut Taxpayers Should Do Before Filing Their Income Tax Return

Posted in Tax News on April 3, 2012

1) Don’t panic. The returns are due on April 17th this year. This is due to April 15th falling on the weekend and April 16th being a holiday in Washington DC. If you can’t get your return completed and filed…

Tagged with: 401(k) Plan, Connecticut, Connecticut Income Tax, Connecticut Income Tax Return, Connecticut Retailers, Connecticut Sales tax, Connecticut Taxpayer, Connecticut use tax, CT, Dividends, estimated income taxes, Estimated Taxes, extension, FBAR, Foregin Assets, Foregin Bank Account, Form 4868, form 8938, Form CT-1040-Ext, Form TD F 90-22.1, Income Tax, income tax extension, income tax planning, Income Tax Return, Interest, ira, Married Filing Jointly, Married Filing Separately, Offshore Accounts, offshore investments, Ordinary Dividends, Penalties, Retirement, roth ira, Schedule B, tax deductions, tax exte, Tax penalties, tax planning, Withholding

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

Blog Archives

9 Easy Steps for a Mid-Year Tax Review

4 Reasons to File Form 1099

The Difference Between the FBAR and IRS Form 8938

How (and When) to File an Income Tax Extension

7 Things Connecticut Taxpayers Should Do Before Filing Their Income Tax Return

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

Blog Archives

9 Easy Steps for a Mid-Year Tax Review

4 Reasons to File Form 1099

The Difference Between the FBAR and IRS Form 8938

How (and When) to File an Income Tax Extension

7 Things Connecticut Taxpayers Should Do Before Filing Their Income Tax Return

Search

Links

Latest News

Categories

Get Free Tax Tips

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