The due dates for the estimated tax payments for the year 2024 are as follows: You can generally avoid an IRS penalty for underpayment of estimated taxes if you pay at least 100% of the tax shown on your return … Read More
First, we’d like to sincerely thank you for considering us for your tax preparation and/or accounting needs. We know you had a lot of choices and we’re excited to have the opportunity to work with you. At our firm, we … Read More
MyCTSavings is a retirement savings program established by the State of Connecticut to provide private-sector employees, who do not have access to an employer-sponsored retirement savings plan, with a convenient way to save for retirement. Here’s a detailed overview of … Read More
A question we’ve increasingly gotten as more clients convert to S-Corps and/or add employees is “What is the advantage to going with a payroll service” and “which one should I go with”. While there are many payroll providers to choose … Read More
We get this one a lot and it is a great question. Unfortunately, the answer is most likely no. The rules regarding the deductibility of unreimbursed job-related expenses for W-2 employees had changed due to tax law changes. The … Read More
Pass through entity tax is a state tax imposed on pass-through entities (S-Corps & Partnerships). A Pass-Through Entity Tax (PET) was primarily implemented to address the federal tax changes under the Tax Cuts and Jobs Act (TCJA) that limited state … Read More