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

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 taxed until distributions are made.

Donation Danger! Proceed with Caution!

Guest Post by Stephen Pedneault, CPA, CFF, CFE

Each time a tragedy strikes in the world, many people feel a strong sense of wanting to help the victims in any way possible.  There is a huge outpouring of support from around the globe comprised of financial and non-financial support.

Presentation at The Manchester Chamber of Commerce

Recently, Tom Scanlon presented "The Seven Sins of Personal Financial Planning"™ to The Manchester Chamber of Commerce.




Roth IRA…The Ultimate Retirement Tax Tool

Last week we discussed the IRA.  This week we'll talk about the Roth IRA.

Who is eligible for a Roth IRA?

  • You need to have earned income at least up to the amount of the contribution.
  • There is a phase out for Roth IRA's based on your Adjusted Gross Income.  In 2009, it is as follows:

Happy New Tax Year!

The book is closed on 2009.  The year 2010 begins with optimism and too many New Year's resolutions.  Sales of gym memberships, diet schemes, and how-to-quit-smoking plans peak at this time of year.