
A Roth Conversion is when funds are taken out of an IRA and converted into a Roth IRA. This conversion results in taxable income. Here are 4 Reasons to do a Roth Conversion:

The federal income tax returns are normally due on April 15th. This year, the 15th falls on a Sunday, so the due date should be Monday the 15th. However, Monday the 16th is Emancipation Day so the due date is Tuesday 17th. Some people aren't prepared to file. Others may be waiting for Form K-1's from their investments. Either way, if the return is not filed on … Continue reading »
1) Don't panic. The returns are due on April 17th this year. This is due to April 15th falling on the weekend and April 16th being a holiday in Washington DC. If you can't get your return completed and filed on time, file an extension. The federal form is 4868 and the Connecticut form is CT-1040-EXT. This will allow you until October 15th … Continue reading »
The Biggest Loser is a TV show where contestants attempt to lose the most weight for cash prizes. Full Disclosure: I don't watch the show and I have only seen short clips of it. I don't proclaim to fully understand the show. It appears to me however the biggest loser has nothing to do with losing weight. It's the self-employed in Connecticut. They … Continue reading »
1) Visit the Connecticut Department of Revenue Services Website
2) Call the Department at (800) 382-9463 (within Connecticut but outside Hartford area) or at (860) 297-5962 (from anywhere) from 8:30 AM to 4:30 PM
3) Visit the Department in Hartford
4) Go to local public libraries, town halls and post offices during tax season
ACTION ITEM: Connecticut taxpayers have several sources to access … Continue reading »