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The 401(k) Plan…The Foundation of Your Retirement

Posted in Tax News on June 13, 2021

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Many employers will offer a 401(k) to their employees.  A 401(k) plan offers many advantages to employees.  The biggest advantage is tax-deferred investing.  These accounts are not…

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4 Reasons Everyone Should Contribute to a Roth IRA

Posted in Tax News on September 25, 2012

1) Tax – Free Distributions If the Roth IRA account is open for at least 5 years and the taxpayers is over age 59 1/2, then all of the distributions from the Roth IRA are tax-free.   2) Take Your…

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IRA…All the Way…to Retirement!

Posted in Tax News on January 28, 2011

The IRA (Individual Retirement Arrangement) is one of the more underutilized tools for retirement planning.  The primary benefit to an IRA is tax-deferred investing.  Income taxes are not paid until taxable distributions are made.  With limited exceptions, distributions made prior…

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Now is The Time…Start Tax Planning for 2010

Posted in Tax News on April 23, 2010

You’ve just finished filing your 2009 income tax returns, or you were too rushed and filed for an extension.  And here I am talking about 2010 tax planning? Yes…I am.

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The Roth 401(k) Plan…It’s Becoming a More Popular Retirement Plan

Posted in Tax News on February 11, 2010

The Roth 401(k) plan is becoming a more popular retirement plan option offered by employers.  This has become the foundation for many people’s retirement plan.  Unlike a traditional 401(k) plan where contributions are made pre-taxed, contributions to a Roth 401(k)…

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