Blog Archives

Payroll Tax Cut Temporarily Extended into 2012

Posted in Tax News on January 11, 2012

Congress recently passed and the President signed the Temporary Payroll Tax Cut Continuation Act of 2011.This act temporarily extends the two percentage point payroll tax cut for employees by continuing the reduction of their Social Security tax withholding rate from…

Tagged with: Compensation, Congress, Employee, Employer, Income Tax, Income Taxes, Internal Revenue Service, IRS, Payroll Tax, Payroll Taxes, President, President Obama, Social Security Tax, Tax Withholding, Wages, 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

So if I Catch a "Baseball", I May Owe Taxes to the IRS?

Posted in Tax News on July 21, 2011

Recently in baseball, a Yankee fan caught Derek Jeter’s 3,000th hit ball and now he may have to pay the Internal Revenue Service (“IRS”) tax money on the few gifts the Yankees gave him. These items included tickets, signed bats,…

Tagged with: Alimony, Baseball Fan, Capital Gain, Cash Basis Taxpayer, Cash Prizes, Derek Jeter, Dividends, Gift Tax, Income, Income Taxes, Inheritance, Interest, Internal Revenue Service, IRS, Life Insurance, Lottery Winnings, Major League Baseball, MLB, New York, New York Yankees, NY, Prizes, Rent, Tax-Exempt Interest, Wages, Yankees

The Last Tax Cut

Posted in Tax News on June 30, 2011

The Obama administration is exploring a temporary tax cut for employers on their payroll tax obligations.

Tagged with: Beneficiary, Capital Gains, Capital Gains Tax, Congress, Dividends, economy, Employee, Employer, estate tax, Federal Tax Code, Federal Unemployment Tax, Income Tax, Long T, Medicare, Obama Administration, Paycheck, Payroll Tax, Qualifying Dividends, Social Security, Unemployment, Wages

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

Blog Archives

So if I Catch a "Baseball", I May Owe Taxes to the IRS?

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

Blog Archives

Payroll Tax Cut Temporarily Extended into 2012

How to Pay Estimated Income Taxes and Avoid IRS Penalties

So if I Catch a "Baseball", I May Owe Taxes to the IRS?

The Last Tax Cut

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