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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…

Tagged with: Adjusted Gross Income, April 15th, Capital Gains, Connecticut Taxpayers, Dividends, EFPTS, Estimated Tax, Form 1040-ES, Form 2210, Form CT-1040-ES, Form W-4P, Income Tax, Income Tax Penalty, Interest, Investment Portfolio, IRA Distribution, itemized deduction, Partnership, Pension, Rental Real Estate, Self-Employed, Social Security, Standard Deduction, Subchapter S Corporation, Tax Penalty, Uncle Same, Withholding

Why You Need Form W-9 Now to Complete Form 1099 Later

Posted in Tax News on June 16, 2013

1099 Filing Requirements Businesses have a responsibility to file Form 1099-MISC to all unincorporated businesses that they pay more than $600 to annually. An unincorporated business is a sole-proprietorship, partnership or a Limited Liability Company (“LLC”). In addition to having…

Tagged with: 1099, Attorney, Backup Withholding, D/B/A, Doing Business As, Form 1099, Form 1099-MISC, Form W-9, Income Tax, Independent Contractor, Internal Revenue Service, IRS, Legal Services, Limited Liability Company, LLC, Medical Payments, Partnership, Sole Proprietorship, Subcontractor, Tax ID#, Tax Identification Number, TIN, Trade Name

How to File Your FBAR and Sleep (Well) at Night

Posted in Tax News on June 2, 2013

The Report of Foreign Bank and Financial Accounts (“FBAR”) Form TD F 90-22.1 is used to report an interest in foreign financial accounts. Who Must File Any U.S. person with a financial interest or signature authority must file an FBAR…

Tagged with: Corporations, Estate, FBAR, Foreign Bank Account, form 8938, Form TD F 90-22.1, Income Tax, Income Tax Forms, IRS, Limited Liability Company, LLC, Offshore Voluntary Disclosure Initiative, OVDI, Partnership, Tax Amnesty, Tax Penalty, Trust, U.S. Treasury

How a Small Partnership Can Get The Failure to File Penalty Waived

Posted in Tax News on May 26, 2013

Face it, no one likes to get letter from the Internal Revenue Service (“IRS”). This is particularly true when you are being assessed a penalty. The IRS has many different penalties. One penalty they have is the failure to file…

Tagged with: Certified Public Accountant, CPA, Failure to File, Failure to File Penalty, Form 2848, General Partnership, Income Tax Penalty, Internal Revenue Service, IRS, Limited Liability Company, LLC, Partners, Partnership, Partnership Tax Return, POA, Power of Attorney, Rev Proc 84-35, Small Partnership, Statue of Limitations, Tax Penalty

5 Lessons Learned From Tax Season

Posted in Tax News on May 5, 2013

Another Tax Season has come and gone. Here are the 5 Lessons Learned from this Tax Season. 1) Don’t Pass Tax Legislation on December 31 Congress passed the American Taxpayer Relief Act on December 31, 2012. It’s clear that no…

Tagged with: ACA, Affordable Care Act, American Taxpayer Relief Act, April 15th, Certified Public Accountant, Congress, CPA, E-File, Electronic File, extension, Form 1065, Form 8879, Income Tax, income tax extension, Income Tax Forms, Internal Revenue Service, IRS, K-1, limited partnership, Obama Care, Partnership, Partnership Tax Return, Tax Season

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

Why You Need Form W-9 Now to Complete Form 1099 Later

How to File Your FBAR and Sleep (Well) at Night

How a Small Partnership Can Get The Failure to File Penalty Waived

5 Lessons Learned From Tax Season

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Branford, CT 203.208.0572 Manchester, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

How to Pay Your Estimated Taxes

Why You Need Form W-9 Now to Complete Form 1099 Later

How to File Your FBAR and Sleep (Well) at Night

How a Small Partnership Can Get The Failure to File Penalty Waived

5 Lessons Learned From Tax Season

Search

Links

Latest News

Categories

Get Free Tax Tips

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885