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3 Proven Tax Smart Moves For Small Business to Save Money

Posted in Tax News on December 1, 2013

1) Adopt a Retirement Plan A business has several different retirement plans it could adopt.  The most common plan is the 401(k) plan.  With a 401(k) plan the employee is allowed to defer on a pre-tax basis up to $17,500…

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Why You Should Not Discard Your Form 1099-K

Posted in Tax News on November 26, 2012

  If you get a Form 1099-K in 2013, don’t ignore it. The new form records payments received in 2012 by credit card companies or through third-party networks such as Amazon, PayPal, and Google. This added income reporting mechanism was…

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How to Survive an IRS Audit from Hell

Posted in Tax News on February 29, 2012

Recently we helped a client survive an Internal Revenue Service (“IRS”) Audit. Ultimately, we got a very good outcome.  The taxpayer owed $219.  That’s as close to “No Change” as you can get!

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How to Claim the Connecticut Job Expansion Tax Credit (JET)

Posted in Tax News on January 18, 2012

During its October, 2011 Special Session, the Connecticut General Assembly adopted, and on October 27, 2011, Governor Malloy signed into law, House Bill No. 6801, An Act Promoting Economic Growth and Job Creation in the State (the “Act”). One of…

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How to Claim the Connecticut Small Business New Employee Tax Credit

Posted in Tax News on January 4, 2012

Did you know that CT provides tax incentives to hire new employees in small businesses? The Qualified Small Business Job Creation Tax Credit Program provides incentives to Connecticut’s small businesses to hire new full-time employees. Under this program Connecticut-based businesses…

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