Blog Archives

The Difference Between a C Corporation and a Subchapter S Corporation

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.


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4 Reasons to do a Roth Conversion

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


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

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


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5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA

The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. Beginning in 2021, Single filers can claim $12,550, Head of Household $18,800 and Married Filing Jointly $25,100. Additionally, the maximum amount that can be deducted for state and


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