This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Choice of Business Entity We are frequently asked by clients starting a business, what type of entity they should be. Here we will address Sole Proprietorships…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Business owners can maintain their corporation as a regular or “C” Corporation. Alternatively, if they are eligible, they may want to make a Subchapter S Election.…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. 1) Meet With Your CPA and Attorney The first step is to meet with your CPA and Attorney. Your CPA should be able to review your…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. 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…
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…
