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How to Apply for Connecticut Tax Amnesty and Save Money

Posted in Tax News on September 22, 2013

  The State of Connecticut Department of Revenue Services (“DRS”) is running a tax amnesty program from September 16, 2013 through November 15, 2013. The amnesty program is for any tax period ending on or before November 30, 2012.

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How to Pay Your Estimated Taxes

Posted in Tax News on September 15, 2013

  Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.   Other taxpayers may not be employees or have taxes…

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When to File Separate Tax Returns to Save Money

Posted in Tax News on September 8, 2013

  Married couples have a choice when they file their income tax returns.  They can file as married filing jointly or as married filing separately.   Married Filing Jointly Most married couples will file a joint income tax return.  There…

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5 Easy Steps to Take When Being Audited By the IRS

Posted in Tax News on September 3, 2013

You open your mail and you get the notice.  You are being audited by the IRS.  Now what do you do?  First, relax.  Then follow these 5 Easy Steps.   1) Read the Notice I know this sounds basic but…

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The Difference Between an Inherited Asset and a Gift Received

Posted in Tax News on August 18, 2013

Whether you receive an asset from inheritance or from a gift can have significant tax impact when this asset is sold. Inherited Asset For an inherited asset you generally take this asset over at the Fair Market Value at the…

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