Income Tax Preparation, Accounting and Payroll service by Don Brooks & Associates - Don Brooks Associates, Inc.
Tax Preparation Services:
Individual Tax Returns
Tax returns and filing instructions have been prepared for 1000's of individual clients each year.
A core specialty is the preparation of tax returns for individual taxpayers. Over the years literally 1000's of Federal and State returns have been prepared and filed. Our knowledge is not limited to the State of Connecticut either, as we prepare Income Tax Returns for numerous states each year.
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Tax Tips Small Business
Automobile Expenses
Which is better - deducting the standard mileage rate or actual expenses?
With the increasing cost of gas, it might be a good idea to revisit which tax deduction is the most beneficial - claiming 50 cents per business mile (55.5 cents starting July 1, 2011) or your actual vehicle expenses. Claiming the standard mileage rate is easier. All you have to do is keep track of your business miles and multiply them by the current rate. In addition to the standard mileage rate, you may also deduct the costs for parking and tolls. Plus, if you are self-employed, you can deduct the interest paid on your car loan.
Read more...Small Business Quick Tip
| The optional standard mileage rate for the business use of an automobile is 55.5 cents per mile in 2012. |
Saturday, 19th May 2012
Tax Tips Personal
Are You Putting Investments in Your Child's Name?
New rules tighten your optionsBeginning with the 2006 tax year, children, under the age of 18 who have unearned income in excess of $1,700,are taxed at their parent'shigher rate. Previously, Read more...
Personal Quick Tip
| If you own mutual funds, it is important to keep track of your reinvested dividends. These dividends increase your cost basis resulting in a lower capital gain when you sell the fund. |