Category Archives: Tax
Now that I have a condo in Florida, I can be a “Florida resident” and I don’t have to pay Connecticut Tax, Right?
This is a common question I get from clients and I feel it may become even more common now that CT has increased the income tax rate. So what determines residency? In Connecticut, for income tax purposes you are considered … Continue reading
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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% – $200,000 … Continue reading
CT Sales Tax Increased to 6.35% 7/1/11!!
Effective 7/1/11 the CT sales tax has been increased to 6.35%!
Is your luxury car deductible?
Answer: It depends Let us look at two court cases: In R.J. Denison, 36 TCM 1759 a securities investment advisor who operated as an S- Corporation was allowed his deductions for a chauffeured luxury automobile. However, in David M. Connelly … Continue reading
IRS Announces Increased Standard Mileage Rate ($.55)
Effective July 1, 2011 the standard mileage rate will increase from $0.51 to $0.55.
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