Category Archives: Small Business
Will I be subject to the3.8% Medicare surtax in January 2013?
Beginning January 1st 2013 the 3.8% Medicare surtax will officially be in effect. Simply, the tax will be imposed on the lesser of: Net investment income or, Modified adjusted gross income (MAGI) over 200,000 for single filers and 250,000 for … Continue reading
Posted in Family Offices & Multi-Family Offices, Small Business, Tax
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ATTENTION! FREE SMALL BUSINESS ACCOUNTING SOFTWARE!!
Let me start by saying I do not get any payment or any form of compensation for “endorsing” accounting software or anything like that, I am just an avid user of MANY different types and came across this and was … Continue reading
Connecticut Sales and Use Tax: U.S. Supreme Court Asked Whether Teachers Created Nexus for Mail-Order Bookseller
The Connecticut Commissioner of Revenue Services had asked the U.S. Supreme Court whether an out-of-state mail order company that sells books to teachers and students was liable for sales and use tax deficiency assessments because the teachers acted as the … Continue reading
ATTENTION: Connecticut manufacturers, you may qualify for this subsidy!!
Came across this subsidy earlier this morning for all that are interested in applying for some state finds for new hires! http://www.ctihub.com/show/paige-rasid/post/192/step-up-(subsidized-training-and-employment-program)–small-ct-manufacturing-businesses-take-note
Employee or independent contractor? Now an even bigger risk!
With unemployment on the rise, State labor departments are cracking down on the misclassifications of contractors that should in fact be employees as outlined by state law. State labor departments are now going one step further and working collaboratively with the IRS … Continue reading
Scrap metal dealers – protect your cash dealings from IRS scrutiny….Or else!
After reading the 80 page IRS audit technique guide made specifically for the scrap metal recycling industry (click here to request a copy) it was obvious the IRS will focus their audits primarily on cash purchases. More specifically, when a scrap yard … Continue reading
Posted in Small Business, Tax
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CT Income Tax Increase. RETROACTIVE!
Effective January 1, 2011 new increased tax rates will be in effect in Connecticut. For single filers: 3% – $0 – $10,000 5% – $10,000 – $50,000 5.5% – $50,000 – $100,000 6% – $100,000 – $200,000 6.5% – $200,000 … Continue reading
CT Sales Tax Increased to 6.35% 7/1/11!!
Effective 7/1/11 the CT sales tax has been increased to 6.35%!
Is your luxury car deductible?
Answer: It depends Let us look at two court cases: In R.J. Denison, 36 TCM 1759 a securities investment advisor who operated as an S- Corporation was allowed his deductions for a chauffeured luxury automobile. However, in David M. Connelly … Continue reading
