This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Don’t you just love it when a Major League athlete signs a huge contract with a new team and says, “It’s not about the money.”…
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“It’s Not About the Money”
Tagged with: 401(K) Plan, 529 College Savings Plan, 529 Plan, Apple Pay, Cash Reserve Fund, CHET, College Board, Connecticut Higher Education Trust, Connecticut Income Tax, Connecticut Income Tax Return, Connecticut Residents, Federal Reserve Board, Higher Education, IRA, Money, Mortgage, Required Minimum Distribution, RMD, Roth IRA, Student Debt, Student Loans, Tax Deduction, Tax-Free
May The Odds Be Ever In Your Favor
The Hunger Games was a bestselling novel that was subsequently made into a movie. Both were awesome. The setting is one where the Capital is abundant in riches. The outlying 12 Districts are all living in poverty. Every year…
7 Easy Year End Tax Saving Steps for Connecticut Taxpayers
1) Fund a CHET 529 College Savings Plan 529 College Savings Plans are an effective way to save for a child’s or grandchild’s education. The State of Connecticut allows Connecticut Taxpayers to fund a Connecticut Higher Education Trust (“CHET”)…
4 Easy Steps to Stay Retired
You have reached the holy grail (for some) and retired. Congratulations! You are in the Land of No Alarm Clocks. Now you can do (almost) whatever you want to do. You’ve worked your whole life to…
Tagged with: 401(K) Plan, 529 College Savings Plan, 529 Plan, Bank of Japan, Budget, Cash Reserve Fund, College, Connecticut, Connecticut Income Tax, CT, ECB, European Central Bank, Fed, Federal Reserve, Federal Reserve Board, Great Reccession 2008-2009, Income Tax, Individual Retirement Account, Interest Rates, Investment Portfolio, IRA, Living Expenses, Medical Bills, Medicare Tax, Money Market Account, Negative Interest Rates, New England, New Hampshire, Portfolio, Rainy Day Fund, Retire, Retirees, Retirement, Retirement Plan, Roth IRA, S & P 500 Index, Savers, Social Security, Social Security Tax, Starbucks, Swiss National Bank, The College Board
7 Reasons Why All Investors Over Age 70 1/2 Should Consider a Qualified Charitable Distribution
Our observation is that many people are very generous with the donations they make. It sure helps that there is likely a tax deduction for this, no question. Many people are accustomed to donating cash, writing a check to…
Tagged with: 401(K) Plan, 501(c)(3), Adjusted Gross Income, AGI, Appreciated Property, Charitable Donation, Charity, Connecticut Estate Tax, Connecticut Income Tax, Connecticut Taxpayers, Estate Tax, Estate Tax Exclusion, Estate Tax Portability, Gift Tax, Income Tax, Investors, IRA, IRS, Itemized Deductions, Medical Expenses, Miscellaneous Itemized Deductions, Mortgage Interest, Non-profit Organization, QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD, Standard Deduction
3 Reasons Affluent Connecticut Residents Should Consider a Roth Conversion
Affluent folks in Connecticut should consider doing a Roth Conversion. What is a Roth Conversion? This is when a distribution is made from an IRA, taxed and then converted into a Roth IRA. Here are Five Reasons the Affluent…
Tagged with: Beneficiary, College Tuition, Connecticut, Connecticut Estimated Tax, Connecticut Income Tax, Connecticut Residents, Connectiut Estate Tax, CT, Estate Planning, Estate Tax, Estate Tax Portability, Estimated Tax, Gift Tax, Gift Tax Return, Income Tax, Inherited Roth IRA, IRA, Itemized Deductions, Ordinary Income Tax, Required Minimum Distribution, RMD, Roth Conversion, Roth IRA, Tax Penalty, tax-deferred, Tax-Free, Taxable Income
How to Use the Tax Code to Retire in Style
How do you envision your retirement? Spending long, lazy days at the beach? Spending more time with your grandchildren? Going golfing or fishing a lot more? Everyone has their own ideal retirement plan. Want more help getting to your retirement? …
Tagged with: 401 (k) Plan, Adjusted Gross Income, AGI, Appreciated Property, Captial Gains, Connecticut, Connecticut Bonds, Connecticut Income Tax, Connecticut resident, Inherited Roth IRA, IRA, municipal bonds, Ordinary Income, Required Minimum Distribution, RMD, Roth 401(k) plan, Roth Conversion, Roth IRA, State of Connecticut, tax-deferred, Tax-Free
Things are More Expensive When You Pay For Them Yourself
We never gave our children an allowance when they were growing up. I had an allowance when I was a kid. Unfortunately for me my dad tied what I could get for an allowance to my grades. …
Tagged with: 529 College Savings Plan, 529 Plan, Alimony, Budget, Child Support, Connecticut, Connecticut Income Tax, Connecticut Income Tax Return, CT, Dependent Care Credit, Head of Household, Income Tax, Income Tax Bracket, Income Tax Rate, Income Tax Return, Itemized Deductions, Mortgage Interest, Personal Finance Class, Roth IRA, South Windsor Connecticut, Standard Deduction, Tax Credit
5 Reasons to Fund a 529 College Savings Plan
1) College is Expensive Financing a college education today can be a big challenge. Having written some checks for college I find it handy to have a cold six pack close by. According to the College Board, the average…
Tagged with: 529 College Savings Plan, 529 Plan, CHET, College Board, College Education, College Tuition, Connecticut Higher Education Trust, Connecticut Income Tax, Connecticut Residents, Estate Tax, Gift Tax Return, Inflation, Lamborghini, New England, Starbucks, Task Rabbit, Tax-Free, Uber, UGMA, UNH, Uniform Gifts to Minors Act, University of New Hampshire
