The Bush era tax cuts are expiring. Here are some of the key tax rates for 2010 and 2011: 2010 2011 Ordinary Income 35% 39.6% Long Term Capital Gains 15% 20% Qualifying Dividends 15% 39.6% Estate Tax 0% 55% Unless Congress decides…
Blow out the candles and cut the cake, the Social Security Administration (“SSA”) is celebrating its 75th birthday! I recently attended a presentation by one of the Social Security representatives. If you get a chance to attend one of these sessions,…
The first half of the year is in the books. It’s time to take a look at your withholding and estimated tax payments. Why is this important? To avoid any potential penalty for underpayment of estimated taxes.
This is “Shark Week” on the Discovery Channel. We are (not so gently) reminded not to swim with the sharks. For the self-employed in Connecticut, every week is “Shark Week”. A self-employed person is someone who runs their business as…
Most taxpayers should not represent themselves in an IRS audit. Most taxpayers should have their CPA or tax preparer represent them. If they hire their CPA, they should not accompany them to the audit. Why? They might be tempted to…