The Truth about Trusts
In the realm of estate planning, navigating the intricacies of trusts and their implications on probate and tax matters is essential for individuals and families seeking to safeguard their assets and legacy. As trusted advisors, CPAs play a pivotal role in guiding clients through the complexities of estate management, offering expertise in optimizing tax strategies, […]
Six Steps to Navigating Connecticut’s Pass-Through Entity Tax
A recent CT legislative development is the introduction of the optional Connecticut (CT) Pass-Through Entity (PE) tax, effective for tax years beginning in 2024. Overview of the Optional CT Pass-Through Entity Tax Commencing on January 1, 2024, the CT Pass-Through Entity tax becomes optional for all pass-through entities, including partnerships, S corporations, and applicable limited […]
Connecticut’s Largest Income Tax Cut: A 2024 Breakdown for Taxpayers
Governor Ned Lamont’s proposed tax cuts, labeled as the state’s largest in history, are set to bring relief to an estimated 1 million tax filers, representing 59 percent of all filers. Let’s delve into the details and understand how these changes could impact you. Governor Lamont’s Vision: The tax relief measures, part of a two-year, […]
