Blog Archives

How the New Tax Law May Impact You

Posted in Tax News on December 31, 2010

On December 17, 2010, President Obama signed the tax bill into law after months of negotiations, and to our benefit, this law will be in effect for the next two years. Enactment of this tax law confirms that individuals at…

Tagged with: Adjusted Gross Inome, AGI, Alternative Minimum Tax, AMT, Capital Gains Tax, Charity, Donations, Education Credit, Exemptions, Flexible Spending Accounts, FSA, Income Tax, ira, Long Term Capital Gains, Payroll Taxes, President Obama, Qualified Dividends, Sales Tax, Self-Employed, Social Security Tax, State Income Tax, Tax Brackets, Tax Cuts

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

Posted in Tax News on December 24, 2010

Most married couples file their income tax returns jointly. However, married couples have an option—they can file married filing jointly or married filing separately. Married couples can change their filing status from year to year. The only requirement is that…

Tagged with: Adjusted Gross Income, AGI, Divorce, Employee Expenses, Filing Status, Income Tax, Investment Expenses, Itemize Deductions, Married Couple, Married Filing Jointly, Married Filing Separately, Medical Expenses, Miscellaneous Itemized Deductions, Self-Employed, Standard Deduction, Tax Preparation

3 Things You Need to Hire an Employee

Posted in Tax News on October 29, 2010

Employers need to get three tax documents from new employees before they start work.

Tagged with: Background Check, Child Support, Connecticut, Connecticut Labor Department, Connecticut State Income Tax, Credit Check, CT, CT DOL, Drivers License, Employees, Employment Eligibility, Form CT-W4, Form I-9, Form W-4, Income Tax, Income Taxes, IRS, Passport, Reference Check, Social Security Card, Tax Withholding

The Difference Between Capital Gains and Ordinary Income

Posted in Tax News on October 15, 2010

Most long-term capital gains are taxed at 15% for 2010. This rate is scheduled to increase to 20% in 2011. Unfortunately, we need to say “most” because there are some exceptions as follows: Taxpayers in the 10% and 15% ordinary…

Tagged with: Alternative Minimum Tax, AMT, Capital Asset, Capital Gain, Capital Gains Tax, Collectibles, Depreciation, Depreciation Recapture, Holding, Holding Period, Income Tax, Long Term Capital Gains, Married Filing Jointly, Ordinary Income, Real Estate, Residence, Short Term Capital Gains, Tax Rate

The Difference Between EE, HH, and I Savings Bonds

Posted in Tax News on October 1, 2010

Clients frequently ask us about the tax effects of government savings bonds they have in their house or safe deposit box. When this question comes up, it’s usually in the context of estate planning. To give an appropriate answer, we…

Tagged with: E Bonds, EE Bonds, Form 1099, H Bonds, Higher Education, I Bonds, Income Tax, IRS, Savings Bonds

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

Blog Archives

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

The Difference Between Capital Gains and Ordinary Income

The Difference Between EE, HH, and I Savings Bonds

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

Blog Archives

How the New Tax Law May Impact You

3 Reasons a Married Couple Should Consider Filing Separate Income Tax Returns

3 Things You Need to Hire an Employee

The Difference Between Capital Gains and Ordinary Income

The Difference Between EE, HH, and I Savings Bonds

Search

Links

Latest News

Categories

Get Free Tax Tips

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