Time payments to maximize year-end tax benefits
When accelerating or deferring income or expenses at year end as
part of an overall tax strategy, certain timing rules become
critical. So does the ability to prove to the IRS when certain
FAQ: What is a substitute for return (SFR)?
Under Code Sec. 6020, the IRS has the authority to prepare and file
a substitute tax return for a taxpayer who fails to file a timely
return. If a taxpayer does not file a return or cooperate with ...
December 2014 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important tax reporting and filing data for individu...
FAQ: What is the kiddie tax?
A child with earned income above a certain level is generally
required to file a separate tax return as a single taxpayer.
However, a child with a certain amount of unearned income (from
How Do I? Get a tax break on my vacation home
Vacation homes offer owners tax breaks similar-but not identical-to
those for primary residences. Vacation homes also offer owners the
opportunity to earn tax-advantaged and even tax-free income. T...
FAQ: How are LLCs taxed?
An LLC (limited liability company) is not a federal tax entity.
LLCs are organized under state law. LLCs are not specifically
mentioned in the Tax Code, and there are no special IRS regulations
Contemporaneous tax records: Are you keeping up?
Everybody knows that tax deductions aren't allowed without proof in
the form of documentation. What records are needed to "prove it" to
the IRS vary depending upon the type of deduction that you ma...
How do I? Amend a return
Sometimes in a rush to file your income tax return, you may
unintentionally overlook some income that had to be reported, or a
deduction that you should or should not have taken. Now
Calculating correct withholding and estimated tax
Correctly calculating your estimated tax payments and/or
withholding is even more important as the year end approaches.
Accurate calculations are especially important as third and fourth
FAQ: What kinds of moving expenses are deductible?
Only "qualified moving expenses" under the tax law are generally
deductible. Qualified moving expenses are incurred to move the
taxpayer, members of the taxpayer's household, and their personal
Welcome and thank you for visiting my Website. In addition to providing you with a profile of my firm and the services I provide, this Website has been designed to become a helpful resource tool to my present and future clients, as well as to those just visiting.
As you browse through my Website, you will see that not only have I highlighted background information on my firm and the services I provide, but have also included useful resources such as informative articles (in my Newsletter section) and interactive financial calculators (in my Financial Tools section). In addition, I have included IRS tax publications and forms, as well as an events calendar for individuals and businesses (in my Info Center section). These publications, forms and event calendars can be printed using Adobe Acrobat Reader.
While browsing through my Website, please feel free to contact me with any questions or comments you may have.
CONFIRMATION BY IRS AND STATE TAXING AUTHORITIES OF PROCESSED AND ACCEPTED RETURNS Clients who provide me with their e-mail address will receive an e-mail confirmation from the IRS and CT (as well as other states, if any) once their returns have been processed and accepted.
WHAT TAX INFORMATION SHOULD BE BROUGHT IN? Click the "Client Checklist" link to see my articles entitled "Tax Preparation Checklist" and "List of Documents and Information Most Often Missed"
2013 ELECTRONIC TAX ORGANIZERS WILL BE AVAILABLE IN MID-JANUARY: If you would like an electronic tax organizer e-mailed to you, please contact me. This organizer (which will be password protected) includes your previous year financial information, and includes fields where current year information can be entered. This information can all be inputted directly onto your computer screen and then printed or e-mailed back to me. It is a useful guide in that it helps identify what current year information you should be bringing in based on what items of income and deductions you had in the previous year.
ATTENTION NEW CLIENTS: As a reminder, please be sure to bring in copies of your prior year income tax returns when we meet. If I will be preparing business returns (sole proprietorship, LLC, partnership or corporate returns), or returns with rental properties, be sure to also bring in a detailed depreciation schedule for each of these activities.
ANNUAL TAX LETTER: My annual tax letter will be sent out the week of January 20th. If you are not on my mailing list but would like a copy, please call or e-mail me with your name and address.