This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 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…
Blog Archives
5 Reasons to Fund a 529 College Savings Plan
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
How to Use the Tax Code to Retire in Style
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 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…
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
3 Proven Reasons You Need a Roth IRA
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA To be eligible for a Roth IRA you need to have earned income from wages or from self-employment. Additionally higher income earners are not eligible. …
Tagged with: 401(K) Plan, Adjusted Gross Income, Beneficiary, CPA, Financial Advisor, Financial Plan, High Income Taxpayers, Income Tax, Income Tax Deduction, Inherited Roth IRA, Investors, IRA, IRS, Life Expectancy, Pension, Pension Plan, Required Minimum Distribution, Retirement, RMD, Roth IRA, Savings, Self-Employment, Social Security, tax-deferred, Tax-Free, Wages
The Difference Between Tax-Free and Taxable Investments
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Investors need to know the difference between tax-free and taxable investments.
Tagged with: 401(K) Plan, Capital Gains, Capital Gains Distributions, Connecticut, Connecticut Bonds, CT bonds, dividends, Income Tax, Income Tax Bracket, Interest, IRA, muni bonds, municipial bonds, New York, New York Bonds, NY Bonds, Required Minimum Distribution, RMD, Roth IRA, state bonds, surviving spouse, Tax-Free, tax-free growth, tax-free investments, taxable investments
The Difference Between Tax-Deferred and Tax-Free Investing
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Investors need to know the difference between tax-deferred and tax-free investing. Tax-Deferred Investing Investors can avail themselves to tax-deferred investing by contributing to their 401(k)…
Tagged with: 401(K) Plan, 401(k) plan employer match, Catch Up Contribution, Connecticut, Connecticut resident, Earned Income, federal income tax, Great Recession 2008-2009, Income Tax, IRA, municipal bonds, New York, Ordinary Income, pre-tax, Required Minimum Distribution, RMD, Roth IRA, state bonds, State of Connecticut, tax-deferred, tax-deffered investing, Tax-Free, tax-free growth, tax-free income, tax-free investing
When You Should Take Your Required Minimum Distribution Early
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Required Minimum Distribution The Internal Revenue Service (“IRS’) requires taxpayers to begin to take their Required Minimum Distribution (“RMD”) from their…
“It’s Not About the Money”
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.”…
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
No Deposit. No Return.
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA What does this mean? If you don’t put something in (deposit) you won’t get something out (return). Isn’t that the truth? This applies whether you…
Tagged with: 401(K) Plan, 401(k) plan employer match, Catch Up Contribution, CNBC, College, College Board, College Tuition, Financial Plan, Financial Well- Being, Great Recession 2008-2009, Income Tax, Investing, IRA, New England, Pension Plan, Portfolio, pre-tax, Required Minimum Distribution, Retirement, RMD, Roth 401(k) plan, Roth IRA, Saving, Social Security, Tax Deduction, tax-deferred, Tax-Free, Taxpayers
5 Easy Steps to Get a Paycheck in Retirement
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Playing more golf, going to the beach or spending more time with your grandchildren is how some visualize their retirement. During your working career…
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”)…
