Baker Law Firm, P.C.
Contact Us 203-648-4737
24 Delay Street, Suite 1, Danbury, CT 06810

February 2018 Archives

Are you in trouble because of your tax professional?

For the next few months, you will be seeing tax preparation cubicles in the malls and department stores around Danbury. At one time, you may have been tempted to gather your receipts and W-2s and sit down in one of those booths to complete and file your tax return. However, you are a business owner now, and your tax preparation may be far too complex for someone whose qualifications you may not know.

Don't let tax debt destroy your business

A former NFL star is learning the hard way that staying on top of paying taxes matters. Two of Kamerion Wimbley's restaurants in another state have been seized by the Department of Revenue for failure to pay taxes. He is not the only one facing the loss of his businesses over tax debt. This is an issue that may also affect business owners in Connecticut.

Expats still owe income tax

Many U.S. citizens take job opportunities that move them and their families out of the country. While they may not be earning money on American soil, it does not mean that they are exempt from paying federal income tax. Here are some things Connecticut residents who are considering the expat lifestyle need to know.

Forget to pay sales tax on your tobacco purchases?

Just about anything can be bought online these days and usually at a cheaper price than what is offered in standard brick-and-mortar establishments. Did you know, though, that some of your online purchases may be subject to Connecticut sales tax even if the seller does not charge you sales tax at the time of purchase? This may not be true for everything you purchase online, but it is for any tobacco products you may buy.

Don't forget cryptocurrency in your 2017 income tax return

Several new tax laws have gone into effect this year, but they will not apply to one's 2017 tax return. For example, how cryptocurrency -- such as Bitcoin -- is taxed and at what rate will be changing under the new law. For the current tax season, here are some things Connecticut residents needs to know about declaring cryptocurrency on their taxes.

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Danbury, CT 06810

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