Blog
Fixing Your Credit Score: How Connecticut Spenders Can Build Better Credit
We’re nearing the end of "extension season" around here at Emelia Mensa CPA ... and it's been a doozy.With so many changes thrown at us, word on the tax professional street is there are going to be a lot of very tired and very grateful CPAs and tax pros after October...
Buying a homeowner’s Insurance Policy: The What and the Why for Connecticut Homeowners
Click on the news right now and you’ll see: floods, storms, fires consuming whole states. And that’s not even taking into account the everyday crime from thieves or vandals that usually dominates the news. Seeing and hearing all of that, it’s easy to look around your...
Taxes & Timeshare Points: A Guide for Connecticut Timeshare Owners
Labor day rushes up on me every year. There's a corporate tax deadline on the 15th of September to keep me busy and focused (not to mention estimated taxes for June 3 through August 31 are also due on the 15th) ... but the truth of the matter is that the beginning of...
The Case Against Connecticut Residents Not Paying Federal Taxes
What a fantastical dream -- to pay no taxes.Now ... would it surprise you if I said most American households (including many households) enjoyed that very dream in 2020 because they ended up not paying federal taxes - not a single dime?Last year’s insanely rocky...
Connecticut Real Estate Investors: The 1031 Tax Deferral May Be Changing
It’s getting harder and harder to brace ourselves for the ongoing images of human struggle. They just keep coming. No matter your position on what’s happening, either nationally or abroad, the possibility of disaster touching us -- that is out of our control -- is...
Emelia Mensa EA, CPA’s Introductory Thoughts About The Proposed Infrastructure Bill
Over the weekend, we were "treated" to heartbreaking images.No matter how any person feels about our involvement as a nation in Afghanistan, the human toll of that involvement -- and now our seemingly hurried departure -- can affect the hardest of hearts, if you let...
Emelia’s Tips for Protecting Personal Assets
You’ve probably got a story to tell. The one about how you got to where you are today. It probably involves lots of hard work and sacrifice. And money.Last I checked, people weren’t giving away their homes and cars. And I bet that you put locks on that house and...
Should Connecticut Parents Take The Child Tax Credit Payments?
The federal government is handing out a lot of money to individuals lately. Remember those stimulus payments that started showing up in your bank account last year? There’s more en route...Now comes the federal advance payments of the Child Tax Credit (CTC). Money for...
Emelia Mensa EA, CPA’s Insights on Good Debt Vs Bad Debt
Before I jump into outlining good debt vs bad debt for all those trying to tackle their personal debt, let’s touch on some news from everyone’s not-so-favorite government agency. Late last week (Friday news dump?), ye olde Internal Revenue Service announced that it...