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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

3 Reasons I Encouraged My Son to Open a Roth IRA

Posted in Tax News on April 28, 2013

I recently suggested to my son that he open a Roth IRA. Here are the 3 reasons why. 1) He’s Young The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger people. …

Tagged with: 401(k) Plan, Defined Benefit Pension Plan, Earned Income, Income Tax, ira, Pension, Pension Plan, Required Minimum Distribution, Retirement, Retirement Accounts, RMD, roth ira, Self-Employement, Social Security, Tax Deduction, Tax-Defered, Tax-Free, Wages

4 Easy Steps to File Your Income Tax Extension

Posted in Tax News on April 7, 2013

Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension. 1) Prepare a Tax Projection

Tagged with: Capital Gains, Captial Gains Tax, Dividends, Estimated Tax, Form 4868, Form CT-104-EXT, Form W-2, Income Tax, income tax extension, Income Tax Penalty, Interest, ira, Pension, roth ira, Self-Employed, SEP, Simplified Employee Pension, Social Security, Tax Penalty

Why The New Medicare Tax May Cost You More Money

Posted in Tax News on June 26, 2012

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to…

Tagged with: 401(k), Affordable Care Act, annuities, Capital Gains, Dividends, Employee, Employer, Form W-2, Health Care Reform, Income Tax, income tax withholding, Interest, ira, Married Filing Jointly, Medicare Tax, Municipal Bonds, Passive Income, Pension, primary residence, Principal Residence, Profit Sharing Plan, Royalties, Self-Employed, Single, Sub S, Subchapter S, Subchapter S Corporation, tax-free bonds, Unearned Income Medicare Contribution Tax, Withholding

How to Pay Estimated Income Taxes and Avoid IRS Penalties

Posted in Tax News on October 27, 2011

Taxpayers must pay their taxes “as they go.” For many taxpayers, their income taxes are withheld from their paychecks. For taxpayers that don’t have any withholding, they will need to make estimated tax payments.

Tagged with: Adjusted Gross Income, AGI, Alternative Minimum Tax, AMT, Connecticut, Connecticut Estimated Income Tax, Connecticut State Income Tax, CT, Department of Revenue Service, DRS, Estates, Estimated Tax, Form 1040-ES, Form 1099-R, Form 2210, Form CT-1040-ES, Form W-2, Form W-4, Form W-4P, Hartford, Hartford Connecticut, Hartford CT, Income Tax, Internal Revenue Service, ira, IRS, Itemize Deductions, Itemized Deductions, Penalty, Pension, Retirees, Social Security, Standard Deduction, State Income Tax, Trust, Wages, Withholding

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

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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

3 Reasons I Encouraged My Son to Open a Roth IRA

4 Easy Steps to File Your Income Tax Extension

Why The New Medicare Tax May Cost You More Money

How to Pay Estimated Income Taxes and Avoid IRS Penalties

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