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The State of Connecticut recently increased the state income tax rates. Oh, and they made them retroactive to the beginning of 2011. Don’t you Connecticut income taxpayers just love this?
Traditional IRAs were designed to provide an opportunity for people to save for retirement on a pre-tax, tax-deferred basis. In other words, the money grows without having to pay any taxes currently on the gains.
Recently enacted legislation makes significant changes to Section 12-700(a) of the General Statutes retroactive to January 1, 2011. Employers and taxpayers need to perform catch-up withholding for the current tax year. The following is a brief overview of the changes…
Deciding whether to open an IRA or a Roth IRA is a major decision with potentially large financial consequences. Both forms of the IRA are great ways to save for retirement, although each offers different advantages and rules.
The IRA (Individual Retirement Arrangement) is one of the more underutilized tools for retirement planning. The primary benefit to an IRA is tax-deferred investing. Income taxes are not paid until taxable distributions are made. With limited exceptions, distributions made prior…
