Blog Archives

7 Smart Year End Tax Planning Moves

Posted in Tax News on December 7, 2011

1) Harvest Capital Losses Capital gains property includes stocks, bonds and mutual funds. Currently, the stated rate on long term capital gains is 15%. If you have a net loss after netting all of your gains and losses, the…

Tagged with: 529, 529 College Savings Plan, Appreciated Property, Bonds, Capital Gains, Capital Losses, Cash Basis, Charitable Donations, CHET, Connecticut, Connecticut Higher Education Trust, CT, Donations, Estate, Federal Estate Tax, Gift, Gift Tax, Gift Tax Return, Home Office, ira, Joint Return, Long Term Capital Gains, Married Couples, Mutual Funds, Required Minimum Distribution, RMD, roth ira, SEP, Simplified Employee Pension, Small Business, Small Business Owner, Stocks, Tax Deduction, tax planning, Year- End Tax Planning

Haven't Filed Your 2010 Tax Return Yet? File an Extension!

Posted in Tax News on April 6, 2011

It’s that time of year again….time to file your income tax return. What if you can’t get it done or don’t have all of your material to prepare it? File for an extension. To file an extension, complete Form 4868,…

Tagged with: 2010 Tax Return, April 18 2011, Connecticut, CT, Form 4868, Form CT-1040-Ext, ira, roth ira, Self-Employed, SEP, Simplified Employee Pension, Tax Extension, Tax Return, Taxpayer

The Difference Between an IRA and a Roth IRA

Posted in Tax News on February 4, 2011

Deciding whether to open an IRA or a Roth IRA is a major decision with potentially large financial consequences. Both forms of the IRA are great ways to save for retirement, although each offers different advantages and rules.

Tagged with: Adjusted Gross Income, AGI, Capital Gains, Company Sponsored Retirement Plan, Cost Basis, Dividends, Earned Income, Income Tax, ira, IRA Contribution, Married Filing Jointly, Nondeductible IRA, Ordinary Income, Phase Out, Qualified Retirement Plan, Required Minimum Distribution, Retirement, retirement plan, RMD, roth ira, Single, Tax-Deferred, Tax-Free, Traditional IRA

Seven Things Every Taxpayer Should Know

Posted in Tax News on January 14, 2011

1. Know Your Tax Bracket This is where every taxpayer needs to start. What is your tax bracket? If you don’t know this number, just pull out your tax return from last year. Look at the taxable income and look…

Tagged with: 401(k) Plan, Alternative Minimum Tax, AMT, Capital Gains, CPA, Dependent Care Benefit Plan, Employee Business Expense, Estate Plan, estate tax, Estate Tax Exclusion, Income Tax, ira, Municipal Bonds, Rental Property, roth ira, Self-Employed, Stock Options, Tax Books and Records, Tax Bracket, tax planning, Tax-Deferred, Tax-Free, Taxpayer

Overview of the Tax Provisions in the 2010 Small Business Jobs Act

Posted in Tax News on December 8, 2010

The recently enacted 2010 Small Business Jobs Act includes a wide-ranging assortment of tax breaks and incentives for small business paid for with various revenue raisers. Here’s a brief overview of the tax changes in the new law.

Tagged with: 401(k) Plan, 403(b) Plan, Cell Phone, Health Insurance, Listed Property, Partnership, Penalty, Rental Property, roth ira, Section 179, Self-Employed, Small Business, Small Business Jobs Act, Sole Proprietorship, Tax Breaks, tax credit, Tax Law

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

7 Smart Year End Tax Planning Moves

Haven't Filed Your 2010 Tax Return Yet? File an Extension!

The Difference Between an IRA and a Roth IRA

Seven Things Every Taxpayer Should Know

Overview of the Tax Provisions in the 2010 Small Business Jobs Act

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Latest News

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Get Free Tax Tips

Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

7 Smart Year End Tax Planning Moves

Haven't Filed Your 2010 Tax Return Yet? File an Extension!

The Difference Between an IRA and a Roth IRA

Seven Things Every Taxpayer Should Know

Overview of the Tax Provisions in the 2010 Small Business Jobs Act

Search

Links

Latest News

Categories

Get Free Tax Tips

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885