Certain Connecticut residents have to pay their taxes, not just once but four times a year. Freelancers and business owners typically do not pay taxes with every paycheck. If they make over a certain amount in a year, they must pay estimated income taxes quarterly or...
Month: August 2019
A bit about use tax and how it affects business owners
In Connecticut, business owners have to pay various taxes to the state. Failure to pay all applicable taxes can have significant consequences. There is one type of tax that some may not understand or think applies to them, and that is use tax. This week, this column...
Common income tax problems some will see this next tax season
The 2020 tax season is not too far off. That means that Connecticut residents only have a short time left to address some issues so that there are not problems when they eventually file their income tax returns. What are some of the common problems people are expected...
Is your passport at risk because of tax debt?
Falling behind on your taxes is not difficult. Each year, you complete your tax forms and find you owe even more than the year before. You may try adjusting your withholding as much as you can and still be able to pay your bills, but your debt to the IRS keeps...
How the SECURE Act will affect taxes
Anyone who keeps up on the news has likely read or heard about the Setting Every Community Up for Retirement Act that recently passed the House vote. The Senate is set to vote on it, and it is expected to pass without issue. The name of the bill certainly sounds like...
The consequences associated with tax evasion
Tax law is confusing. Paying taxes is not always a straightforward thing. Many Connecticut residents do their best to file and pay on time, but some make mistakes or let their taxes slide. Those on the latter side of this equation could face some severe consequences...