Windsor Locks, Connecticut

Vector Tax & Accounting

Personal Service and Expertise

Vector Tax & Accounting

73 Old County Rd
Windsor Locks, CT 06096
Vector Tax & Accounting, Accounting, Finance, Windsor Locks, Connecticut

Vector Tax & Accounting delivers individual, small business and non-profit tax solutions in bookkeeping, tax preparation and accounting, along with their expert know-how to save hard-earned profits.

In particular, Vector Tax & Accounting analyze accounting and aid with QuickBooks to assess a business’ possibilities for incorporation, partnerships and LLC’s. Much of the secret to business savings lies in eliminating ‘self-employment taxes’, which are required of a sole proprietor business owner. A sole proprietor is anyone who owns an unincorporated business by him or herself. Sole proprietors must pay ‘self-employment’ taxes on all of the income of the business as if it were their own income, regardless of whether they use the income or save it for the business’ reinvestment. A good bookkeeping and accounting service will demonstrate possibilities to save this money. And, who doesn’t love to save money?

For example, incorporation would create a separate entity, whereby even as a single business owner of an incorporated entity the owner must only pay personal income tax on the salary or income they receive from the newly incorporated entity. Electing for a subchapter S designation (or “S corp”) may also present further possibilities for savings as S corp status allows for the reporting of profits and losses on personal income tax returns—leaving the business virtually untaxed! Additionally, further exploration of an LLC, will assess whether it can be taxed as corporation rather than suffer under the rules of sole proprietorship. Especially if you just invest in an LLC and don’t actually run the business, Vector Tax & Accounting will explore every venue to save your wallet!

Whether you are an individual or large corporation and whether you just need help with your tax return or want to carryover losses in a merger, Vector Tax & Accounting will help you find the best solutions to your tax and accounting needs. To find out what possibilities are right for your small business, corporation or even non-profit and to receive expert business advice and tax preparation visit Vector Tax & Accounting online or call (860) 580-5183.  

Announcements & Events from Vector Tax & Accounting
The obvious answer isn't always the right answer, Windsor Locks, Connecticut
I had a woman in my office for a tax prep consultation a few weeks ago. She had a fairly interesting situation, well interesting if you’re an accountant anyway. I explained the more
Your time is valuable, but the IRS doesn't care., Windsor Locks, Connecticut
I've always said that if you want to really get to know someone, do their taxes. Most people don't view it as that big of a deal, but others view it as a very personal experience. more
CPA?  I don't think that means what you think it means., Windsor Locks, Connecticut
The going assumption is that if you want to start a business or if you need help with accounting or taxes, then you need a CPA. While there are CPAs that do focus in these areas, more
Get your taxes done without having to leave your home, Windsor Locks, Connecticut
Snow has started coming down...again.  I don't know about you, but if I didn't have to be at the office, I wouldn't want to leave my home.  So why should you?  Here's more
Important updates on Facebook, Windsor Locks, Connecticut
Be sure to check out our Facebook page as well.  Aside from calling, that's the best place to go to find out about weather related closings or changes in more
When my girlfriend (now wife) graduated from college she had a BFA in photography. The decision was made that she was going to use that and the experience she already had to set out more
Are you so organized that you're ready to have your taxes done?  Then it's time you were rewarded for that.  Schedule an appointment at our office any time before the end more
I met with someone in October. He had filed a 6 month extension for his taxes in April and now in mid October the deadline was again looming and it was time to finally get his taxes more
I wanted to take a moment to wish everyone a happy New Fiscal Year.   I hope everyone had a great 2014 and an even better 2015.  It's 1:00, you've got just 11 more hours more
"Many Christmases ago, I went to buy a doll for my son. I reached for the last one they had, but so did another man. As I rained blows upon him, I realized there had to be another more
This is something that I hear every year. I've been hearing it for years and I have no doubt that I will continue hearing it in the future. Of course when people say it that's not more
From tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2014 were related to the signing of the American Taxpayer Relief Act (ATRA) more
As Thanksgiving is approaching, we’re all being bombarded with Black Friday commercials. Right after Black Friday is a day that not nearly enough people know about, Small Business more
When it comes to creating a budget, it's essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses and more
The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding more
Time's almost up!  Schedule your tax prep appointment before 11/15 and save 10%.  Call 860-580-5183 or email to get your more
1. State Sales and Income TaxesThanks to the fiscal cliff deal last January, the sales tax deduction, which originally expired at the end of 2011, was reinstated in 2013 ( more
Just 2 weeks left.  Schedule your tax prep appointment before November 15th and save 10%.  Contact us to book yours toady! Info@VectorTax.comread more
If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses.Additionally, more