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August
1, 2006 Merger
We are pleased to announce some
exciting changes in our firm effective
August 1, 2006. Puleo, Thompson,
Henry & Raymond, LLC has merged
with the South Windsor firm of Lillis,
Burnett, Henry & Raymond, LLC.
The firm name is now Henry, Raymond,
Morin & Thompson, LLC.
Offices will continue to be maintained
in both locations. Learn
more.
Federal and State Labor Laws
Whether a worker is an employee or
independent contractor can have
important tax ramifications. If
the worker is an employee then the
employer must withhold and pay
employment taxes. The employee
may also be eligible to participate in
benefit plans including insurance
coverage and retirement plans. Learn
more.
U.S. Savings Bonds
Are you holding bonds that are no
longer paying interest? Not
only may they have stopped paying
interest but you may owe income tax on
the interest income that was deferred.
Learn
more.
Tax
Tips:
What Is and Isn't include in
Income?
Wages, salaries, fees and tips are
considered income but gifts and
inheritances are not. Learn
more.
Deductible IRAs, 401(k)s and
SIMPLE limits (2005 & 2006):
The ability to make a deductible IRA
contribution for "active"
participants in employer sponsored
plans is phased-out for married
individuals with Adjusted Gross income
between $70,000 and $80,000 and for
single taxpayers with Adjusted Gross
income between $50,000 and
$60,000. Learn
more.
Tax Filing Deadline –
Individuals
Federal Form 1040 and most state
individual income tax returns are due
by April 15th in any given
year. Individuals can apply for an
automatic extension of time to file
income tax return. Learn
more.
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