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Federal Estate Tax Proposal 2021 -> Proposed Build Back Better Act

Posted in Estate Planning, Tax News on December 8, 2021

This article is original content written by local Manchester, CT CPA firm Borgida & Company, P.C. staff accountant Norbert Jurkiewicz. Pending Legislation: Proposed Build Back Better Act Affects Estate and Gift Tax Planning Background On December 22, 2017, President…

Tagged with: Build Back Better Act, Federal Estate Tax, Gift Tax, Internal Revenue Service, IRS

How Many Trusts Do I Need?

Posted in Tax News on December 6, 2021

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Estate Planning can get tricky. One tool that is frequently used is a trust. Many trusts are set up as revocable (“rev”) trusts. This means the…

Tagged with: beneficaries, Estate Planning, Estate Planning Attorney, grantor, Income Tax, Inheritance, Irrevocable Trust, Rev Trust, Revocable Trust, settlor, Single Pot Trust, Sucessor Trustee, Tax Returns, Trust, trustee

The Difference Between a C Corporation and a Subchapter S Corporation

Posted in Tax News on June 17, 2021

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.…

Tagged with: Amortization, asset purchase, Asset Purchase Agreement, Business Owner, C Corporation, Corporation, Depreciation, Double Tax, employer fringe benefit, Flow Through, form k-1, Form W-2, fringe benefit, Health Care Premium, Income Tax, individual income tax, long term care, long term care premiums, S Corporation, S Election, Stock Purchase Agreement, Stock Sale, Stockholders, Sub S, Subchapter S Corporation, Subchapter S Election, Tax Free Fringe Benefit, Tax Return, tax year end, W-2

4 Reasons to do a Roth Conversion

Posted in Tax News on June 17, 2021

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…

Tagged with: 401(k), 401(k) Plan, Beneficiary, Cash, Connecticut, Connecticut Income Tax, Conversion, CT, economy, Employer, Federal Government, Income Tax, Income Tax Bracket, Income Tax Rates, ira, Money, Nest Egg, Net-Worth, Partial Conversion, Partial Roth Conversion, Required Minimum Distribution, Retirement, retirement plan, RMD, Roth 401(k), roth conversion, roth ira, State Government, State of Connecticut, Surviving Spouse, Tax Bracket, Tax Rates, Tax-Deferred, Tax-Free, Taxable Income, Wealth Transfer

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

Posted in Tax News on June 13, 2021

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…

Tagged with: 401(k) Plan, Catch Up Contribution, retirement plan

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

Federal Estate Tax Proposal 2021 -> Proposed Build Back Better Act

How Many Trusts Do I Need?

The Difference Between a C Corporation and a Subchapter S Corporation

4 Reasons to do a Roth Conversion

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

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Latest News

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Get Free Tax Tips

Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

Federal Estate Tax Proposal 2021 -> Proposed Build Back Better Act

How Many Trusts Do I Need?

The Difference Between a C Corporation and a Subchapter S Corporation

4 Reasons to do a Roth Conversion

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

Search

Links

Latest News

Categories

Get Free Tax Tips

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885