Don Brooks & Associates, Inc.

481 Buckland Rd

Post Office Box 605

South Windsor, CT 06074

Phone: 860-648-4002

Don-Brooks-Fax-Number

This email address is being protected from spambots. You need JavaScript enabled to view it.

Tax Tips Small Business

  • Employers of Tipped Employees Allowed a Tax Credit

    Are you getting the credit you deserve?

    If you are an employer in the food and beverage industry, you may be entitled to a tax credit for the social security and Medicare taxes you pay on your employees' tip income. You must meet both of the following requirements to qualify for the credit:

    Read more ...

Small Business Quick Tip

  • Employer Provided Education

    Employer-provided education assistance benefits of $5,250 provided under a written plan are excludable from wages. The education doesn't need to be job-related to qualify.
Saturday, 2nd July 2016
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

Follow us on

TwitterFacebook

Tax Tips Personal

  • Are You Putting Investments in Your Child's Name?

    New rules tighten your options
     
     For the 2014 tax year, children, under the age of 18 who have unearned income in excess of $2,000,are taxed at their parent'shigher rate. At age 18. the kiddie tax applies unless the child provides more than 50% of his/her own support. The kiddie tax also applies to full-time studnets between the ages of 19 and 23 unless they provide more than 50% of their own support. Generally, unearned income includes interest and dividend income, capital gains, taxable social security benefits, and pension distributions.

Personal Quick Tip

  • Qualified Mortgage Insurance

    In 2013, premiums that are paid or accrued for "qualified mortgage insurance" in connection with home acquisition debt on your residence are deductible as home mortgage interest.