Branford, CT 203.208.0572Office Hours: Monday – Friday 8:30am-5:00pm
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Closely Held Businesses looking to negotiate a sale of their business will either do an Asset Sale or a Stock Sale. …
When you sell a capital asset you need to know when you purchased it and what the cost basis is. These will be used to determine what your capital gain (or loss) is. Capital assets are items such as stocks,…
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…
The sale of a capital asset will result in a capital gain. Depending on the holding period of this asset, the gain will either be short-term or long-term. Long-term gains have a lower, preferred income tax rate. The holding period…
Traditional IRAs were designed to provide an opportunity for people to save for retirement on a pre-tax, tax-deferred basis. In other words, the money grows without having to pay any taxes currently on the gains.
