Rental Income as §199A Qualified

December 29, 2019

An easily overlooked part of the requirements for those who have rental income coming in but that is not your primary source of income is that you must provide 250 hours per year of services to the property in order to qualify. That works out to about 5 hours a week. Qualifying for this deduction […]

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Savings Institute is Gone

October 1, 2019

Sadly, Savings Institute Bank and Trust is no more. A lot of you bank with SI because we’ve recommended it for the whole 20+ years we’ve been in business – and they really have been a great low-cost trouble-free bank offering great customer service. Now it’s Berkshire Bank and it sounds like it’s going to […]

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2019 CT Tax Changes

August 17, 2019

Here are the highlights as published on the CT website: https://portal.ct.gov/DRS/Legislative-Summaries/2019-Legislative-Updates/Regular-Session-State-Tax-Legislation-Overview 2019 Regular Session – State Tax Legislation Overview​ State tax legislation passed during the 2019 Regular Session that affects the current year included the following provisions: Tobacco 21. The legal age for purchasing cigarettes, tobacco products, and vaping products has been raised to 21. Starting […]

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In Case You Haven’t Heard –

August 17, 2019

I just got a survey from the State of CT on my payroll as part of their evaluation of the new Payroll Tax Proposal that will, supposedly, sharply alter the State Income Tax. What this will do is shift the burden away from taxpayers and onto employers. You can read more about it here. https://taxfoundation.org/connecticut-payroll-tax-proposal/

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Did You Owe Taxes Last Year?

August 13, 2019

The IRS has published a new Tax Withholding Estimator. Keep in mind that we are already more than half-way through the year so changes you make will only be reflected in paychecks received after you adjust your withholdings. https://www.irs.gov/individuals/tax-withholding-estimator

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EXTENSION TIME!

April 4, 2019

If you’d like your Personal Return, or Calendar Year End 1120 to be put on Extension please text, email, fax, or call! The deadline is April 15th but we want everything in by the 13th to avoid the last minute rush and any last minute problems.

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2019 IRS Filing Season is on and there are changes at TIO

February 3, 2019

The IRS has started to accept e-files for the new year. We’ll happily complete them for you but we’re working remotely this year using technology – fax, email, text message, etc. – or you can mail information. Tax Return delivery will be electronic or by mail. We will not have a physical presence this year. […]

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Check Your Paycheck Withholdings

August 13, 2018

The new Tax Gift to Billionaires Act is going to cause a lot of pain among ordinary people.  Because of the large changes in what is, and isn’t, deductible, many will find themselves underwithheld.  That will result in having to write a check by April 15th.  The IRS issued new withholding tables so double-check, triple-check, […]

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Not A Good Day

March 23, 2018

The definition of “not a good day” is a day when you pull the modem for the internet service you waited two weeks to get onto the floor and it breaks – especially when it’s after business hours.  That is “not a good day.”

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Internet Outage

March 15, 2018

The Internet here in Oregon has been running at 1.7 / 1.5 for over a week now. The provider claims it’s my router because he’s putting through a whopping 6/3. The problem is I’m setting up a new Dell because of other computer problems so all of the software has to be downloaded. That blew […]

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