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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

3 Reasons to Do a Roth Conversion to Save Taxes

Posted in Estate Planning, Small Business, Tax News on July 31, 2019

A Roth Conversion is when you take a distribution from an IRA, tax it and rollover the proceeds within 60 days into a Roth IRA. In lieu of getting a check, have the funds sent from the IRA to the…

Tagged with: Income Tax, ira, RMD, ROTH, roth conversion, roth ira, SAVE TAX, SECURE ACT, STRETCH IRA, Tax Bracket, Tax-Free, TCJA

3 Proven Reasons Young Investors Should Fund a Roth IRA and Roth 401(k) to Save

Posted in Tax News on July 14, 2013

Time As the Rolling Stones said, “Time is on my side.” And so it is with younger investors, time is clearly on their side. The benefit to a Roth IRA or Roth 401(k) plan is that if all of the…

Tagged with: 401(k) Plan, Catch-Up Provision, Employer Match, Income Tax, ira, Rolling Stones, Roth 401(k) Plan, roth ira, Self-Employed, Tax Bracket, Tax Penalty, Tax-Free, Wages

A Summary of the American Taxpayer Relief Act of 2012

Posted in Tax News on January 13, 2013

The Federal Government avoided the Fiscal Cliff…Well, for now any way. At the very last minute they passed the American Taxpayer Relief Act of 2012. Here are some of the highlights: Income, Capital Gains and Qualifying Dividends…

Tagged with: Alternative Minimum Tax, AMT, Capital Gains Tax, Charity, Estate, estate tax, Estate Tax Exclusion, Exemptions, Federal Income Tax, fiscal cliff, Gift Tax, Income Tax, ira, Itemized Deductions, Medicare Tax, Payroll Tax Cut, portability, qualifying deductions, Required Minimum Distribution, RMD, Surviving Spouse, Tax Bracket, Taxpayer Relief Act

Why Every Week is "Shark Week" for the Self-Employed in Connecticut – Updated

Posted in Tax News on July 29, 2011

This week is Shark Week on the Discovery Channel. Last year, we told you how every week is “Shark Week” for the self-employed in Connecticut. Now, a year later, there is even more blood in the water.

Tagged with: 401(k), Connecticut, Connecticut Income, Connecticut Income Tax, Connecticut Property Tax Credit, Connecticut State Income Tax, Corporation, CT, Discovery Channel, Estimated Tax, Form CT-1040ES, Income Tax, ira, Jaws, Land Sharks, Limited Liability Company, LLC, Partnership, SEP, Shark Alert, Shark Week, Simplified Employee Pension, Single Member LLC, Sole Proprietor, Subchapter S, Tax Bracket

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

4 Reasons to do a Roth Conversion

3 Reasons to Do a Roth Conversion to Save Taxes

3 Proven Reasons Young Investors Should Fund a Roth IRA and Roth 401(k) to Save

A Summary of the American Taxpayer Relief Act of 2012

Why Every Week is "Shark Week" for the Self-Employed in Connecticut – Updated

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Branford, CT 203.208.0572 Manchester, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

4 Reasons to do a Roth Conversion

3 Reasons to Do a Roth Conversion to Save Taxes

3 Proven Reasons Young Investors Should Fund a Roth IRA and Roth 401(k) to Save

A Summary of the American Taxpayer Relief Act of 2012

Why Every Week is "Shark Week" for the Self-Employed in Connecticut – Updated

Search

Links

Latest News

Categories

Get Free Tax Tips

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885