Blog Archives

5 Easy Steps to Opening a Business in Connecticut

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT.   1) Meet With Your CPA and Attorney The first step is to meet with your CPA and Attorney. Your CPA should be able to review your


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5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA

The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. Beginning in 2021, Single filers can claim $12,550, Head of Household $18,800 and Married Filing Jointly $25,100. Additionally, the maximum amount that can be deducted for state and


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Understanding the New 20% Pass-Through Income Tax Deduction

In December, 2017 President Trump signed the new tax bill.  This is known as the Tax Cuts and Jobs Act (TCJA).  What received a lot of attention in the media was the tax cuts for individuals. For Connecticut taxpayers, check


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4 Easy Steps to File Your 2017 Forms 1099

    1) Determine who should receive Form 1099   Business owners need to determine who should receive a Form 1099.  The Form 1099 will be issued to independent contractors and other parties. The IRS has rules to determine who


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How Equifax’s Catastrophic Security Breach Could Affect YOU

Portions of this articles were drawn from Consumer.ftc.gov, Irs.gov and Equifax.com The Equifax data breach exposed the information of nearly half the population of the United States. There is a greater than normal likelihood your data is now in hackers’


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