Posts Tagged ‘529 Plan’


4 Year-End Tax Planning Steps for Connecticut Taxpayers to Save Money

money

 

 

 

The year-end will be here soon.  Here are 4 year-end tax planning steps for Connecticut taxpayers:

 


3 Reasons to Fund a 529 College Savings Plan

 

1) College is Expensive

According to the College Board the average tuition for a 4 year private education is $39,518 per year.  The average cost of a 4 year in- state public education is $17,860.  Either way, it’s a lot of money.


Fifty Shades of Tax Deductions

No Fifty Shades of Grey here.  Here are Fifty Black and White Tax Deductions and Credits.

1) Standard Deduction – Taxpayers can take the higher of the Standard Deduction or their Itemized Deductions.

2) Medical Expenses

3) Medical Miles – The deduction for medical miles is currently 23 cents per mile.


7 Easy Ways to Decrease Your Income Tax and Keep More Money

 1) Maximize Your Contributions to Your 401(k) Plan

Many employers will offer a 401(k) plan. Employees need to take advantage of this plan. This will likely be one of the cornerstones of your retirement plan. If your employer offers a match, you really need to participate in this plan at least to get the match amount.


State of Connecticut 2011 Income Tax Increase

The State of Connecticut recently increased the state income tax rates.  Oh, and they made them retroactive to the beginning of 2011.  Don't you Connecticut income taxpayers just love this?


Web Statistics