February 22, 2020

Changes To The 2019 Federal Tax Return

There were major changes to the format of the 2018 Federal individual tax return forms, but nothing quite so drastic for 2019.  However, there are a few changes that you should be aware of:

  1. If you engaged in a transaction involv...

February 22, 2020

Consolidated Appropriations Act, 2020

On December 20th President Trump signed the Consolidated Appropriations Act (the Act) with little fanfare.  The Act extended some tax provisions that were due to expire, repealed some provisions, but most notably made changes effect...

August 15, 2019

2019 Connecticut Tax Changes

The Connecticut legislature passed a number of tax changes in it's 2019 session.  Effective October 1, 2019, the sales tax on meals will increase from 6.35% to 7.35%, the rate on all alcoholic beverages other than beer will increase by 10%,...

March 1, 2019

Changes For Owners of Rental Real Estate

The biggest (and most complicated) change of the Tax Cuts and Jobs Act of 2017  (TCJA) is the 20% pass-through deduction provided for by IRC Section 199A. This allows individual business owners to deduct 20% of their business net...

December 11, 2018

**Photo by Chuck Fitzgerald

Tax Cuts and Jobs Act of 2017

Changes For Individual Taxpayers

The Tax Cuts and Jobs Act of 2017  (TCJA) will result in major changes for individual taxpayers; some will save taxes but others will pay more. The following list summarizes some of...

December 11, 2018

**Photo by Chuck Fitzgerald

Tax Cuts and Jobs Act of 2017

Lower Federal Taxes for Businesses

As the name implies, the Tax Cuts and Jobs Act of 2017  (TCJA) is focused on reducing business taxes to encourage capital investment and create jobs.  Many of the changes provide...

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Quick Notes

Paycheck Protection Program Deadline Approaches

July 28, 2020

Paycheck Protection Program Deadline Approaches

The deadline for businesses to apply for loans under the Paycheck Protection Program has been extended...

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IRS Circular 230 Disclosure: 
To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication, unless expressly stated otherwise, was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein. 

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