Tax Services

Need help with your taxes? We have the comprehensive tax planning, preparation, and filing services you need for a stress-free tax season.

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Federal, State, and Local Tax

We offer a full range of tax planning and compliance services. We will work with you year-round if necessary in order to minimize your total tax burden. Our firm also prepares all federal, state, and local tax returns for individuals and businesses.

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Sales Tax

Our firm prepares all sales tax filings and offers full sales tax audit representation. If you have questions about the ins and outs of sales tax and what your business needs to do to remain in compliance, our professionals are here to help.

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Tax Planning

The firm of Wayne W. Stanforth, CPA continuously monitors federal, state, and local tax law changes to allow its clients to minimize current and future tax liabilities. If necessary, we can implement tailor-made due-date tax compliance monitoring systems to prevent costly interest and penalty assessments attributable to late filing.

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Frequently Asked Tax Questions

  • What credentials should someone preparing my taxes have?

    When it comes to tax preparation, it is important to make sure that the individual assisting you with your taxes has the right credentials. Wayne W. Stanforth, CPA recommends that tax preparers should have valid credentials such as a tax preparer’s license, or relevant education and experience in handling tax related matters. It is also important to ensure that the tax preparer is up-to-date with tax laws and regulations, and is familiar with any state tax requirements. Furthermore, make sure that your tax preparer has Professional Liability Insurance so that you are protected in case of errors or omissions made during tax preparation or filing. 

  • What's the difference between tax preparing and tax planning?

    Tax preparation and tax planning are two different activities that involve managing taxes. Tax preparation involves doing the paperwork necessary to file tax returns, such as gathering tax documents, calculating tax liabilities, and submitting tax forms with the appropriate government agency. On the other hand, tax planning is a process of analyzing individual financial situations in order to minimize tax liability while still ensuring tax compliance. Tax planning can involve tax optimization strategies, such as deferring tax payments or taking advantage of tax credits and deductions. Ultimately, tax preparation is focused on filing taxes accurately and timely while tax planning focuses on reducing tax liability over the long-term. 

  • How much will it cost to have my taxes prepared?

    The cost of tax preparation can vary depending on factors such as the complexity of your tax situation, the forms you need to file, and the tax preparer’s level of experience. Wayne W. Stanforth, CPA offers flat-rate fees based on your tax filing needs and tax situation. 

  • When should I start preparing for taxes?

    Tax planning should start as soon as possible - ideally at the beginning of the year. Being proactive and starting early allows taxpayers to adjust their tax strategy during the year if needed, and make sure that tax documents are in order by tax time. Additionally, tax preparers may be busy or have longer wait times closer to tax season, so starting early can ensure that you get quality tax preparation services in a timely manner. 

  • What is the sales tax rate in Connecticut?

    In Connecticut, the sales tax rate is 6.35%. This is the standard rate that applies to all transactions within the state. Some areas may have different tax rates based on specific tax agreements or local laws.