Financial News

Manufacturing Apprenticeship Tax Credit

Due to the current and impending shortage of skilled craft workers in the manufacturing trades in Connecticut, corporations who employ an apprentice will be entitled to the Tax Credit for Manufacturing Apprenticeships.

Corporations claiming this tax credit must have a qualified apprenticeship training program:

  • Certified in accordance with regulations adopted by the Connecticut Department of Labor
  • Registered with theConnecticut State Apprenticeship Council

The apprenticeship program must meet the following requirements:

Changes to the Federal Application for Federal Student Aid (FAFSA)

College students need to complete the Application for Federal Student Aid (FAFSA) to qualify for any needed financial aid. Two new changes have taken affect for the new FAFSA process:

  • You can now submit the FAFSA form as early as Oct 1st., instead of the previous Jan 1 submission date.  This is not the deadline, but students who apply earlier tend to receive more aid.
  • Going forward, you can base your answers on your federal tax return from the … Continue reading »

3 Proven Reasons Young Investors Should Fund a Roth IRA and Roth 401(k) to Save

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Time

As the Rolling Stones said, “Time is on my side.” And so it is with younger investors, time is clearly on their side.  The benefit to a Roth IRA or Roth 401(k) plan is that if all of the requirements are met, the distributions are tax-free. To fund a Roth IRA you will need to have earned income.  This is the … Continue reading »

Happy 75th Birthday to the Social Security Administration

Blow out the candles and cut the cake, the Social Security Administration ("SSA") is celebrating its 75th birthday!

I recently attended a presentation by one of the Social Security representatives.  If you get a chance to attend one of these sessions, I strongly encourage you to do so.  Here are some of my notes from this seminar.  Please be aware that I did not verify these facts.  Any errors would surely be in my note taking ability.

A College Education is Expensive…Fight Back!

According to the College Board, the average cost of tuition at a public school increased by 6.5% last year.  The average increase in tuition at a private school was 4.4%.  This put the average cost of tuition, room and board, and fees at $15,213 for the public school and $35,636 for private school.  

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