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Understanding the New 20% Pass-Through Income Tax Deduction

Posted in Small Business, Tax News on June 5, 2018

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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How to File Your Form 1099’s and Avoid IRS Penalties

Posted in Tax News on December 22, 2013

Determine Who Needs to Be Issued a 1099 A Form 1099 needs to be issued to any unincorporated business that you paid $600 or more.  An unincorporated business includes Limited Liability Companies (LLC’S), Partnerships and Sole Proprietors.   Additionally, a 1099…

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4 Reasons to Get IRS Form W-9

Posted in Tax News on August 28, 2012

  1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year Two simple questions were added to the income tax returns last year.  These were: “Did you make any payments in 2011 that would require you to…

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2 Simple Questions That Taxpayers Will Need to Answer Carefully This Year

Posted in Tax News on March 8, 2012

Do you file a Schedule C, Profit or Loss From Business or Schedule E, Supplemental Income or Loss (From Real Estate or Partnerships)? If so, you will notice there are 2 simple questions that have been added to these forms.…

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