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Bresnick Financial Services, LLC
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IRS just released 2019 retirement contribution limits: 401k, 403b, and 457 plans will allow up to $19,000. IRAs will have a max of $6,000. Annual catch-up contributions for those over age 50 will remain at $1,000. Start 2019 planning and increase your contributions as necessary.
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Today is the filing deadline for individuals with tax extensions. DO NOT forget to file!
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3 short weeks left before extended personal and corporate tax returns are due on 10/15.
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Tax return extensions are coming due on 9/15 (LLCs/Partnerships and S Corps) and 10/15 (Individuals). Contact us today if you need help preparing your final returns.
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Are you divorcing your spouse in 2018? There are HUGE tax implications depending if you are receiving/paying alimony under the new tax law. 12/31/18 is the deadline for alimony to be deductible/taxable so you may want to speed up, or slow down, the proceedings.
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Breaking News: CT Gov. Malloy signed into law a new Pass Through Entity Income Tax. Beginning immediately all LLC, S Corp, and Partnerships will be taxed 6.99% on their net income and need to make estimated payments. Owners will get a credit on their personal tax return so the end result is a wash, but this changes how owners need to plan. Contact us immediately for details if this affects you.
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Are you looking for a trusted accountant? We offer a broad range of services including CFO work, payroll, tax planning, bookkeeping, and of course tax preparation. Contact us today to see how we can help. http://ow.ly/dIZw30jGVq3
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Don't forget to make any last minute IRA contributions before tomorrow's tax deadline for 2017! If you need more time to fund a SEP/SIMPLE IRA you can extend to Oct 15, but traditional and ROTH IRAs are due tomorrow.
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Do you live in a high tax state like CT, CA, NJ, NY, or DC? In 2018 itemized state and local taxes are limited to $10,000 and therefore may significantly impact how much tax you pay. Now is the time to start planning.
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ALERT! CT Dept of Revenue asked for and RECEIVED information from NewEgg and other online retailers about all customers in CT who didn't pay sales tax on their purchases. We have already seen clients getting tax bills for unpaid use tax.
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