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Hurricane Sandy has left its devastation.
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:
Taxpayers are allowed to gift up to $13,000 per year to an unlimited number of people without having to file a gift tax return or pay a gift tax. If the amount goes over $13,000 to any one individual, then a gift tax return must be filed. This is done on IRS Form 709, United States Gift Tax Return. Connecticut taxpayers required to file a federal … Continue reading »
On July 5, 2011, Thomas Scanlon,CPA,CFP ® was quoted on "Moody's Outlook Negative on State's Long-Term Debt".
To read the article, please click here: Moody's Outlook