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Local Manchester CPA, CFP Scanlon Quoted on TheStreet.com

Posted in Firm News, Tax News on November 13, 2023

Navigating taxes in your golden years Taxpayers 65+ may be eligible for certain benefits, including a higher income threshold, a higher standard deduction and some income exempt from tax. Tax season holds a distinct significance for older taxpayers, and the…

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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…

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Understanding the New 20% Pass-Through Income Tax Deduction

Posted in Small Business, Tax News on June 5, 2018

In December, 2017 President Trump signed the new tax bill.  This is known as the Tax Cuts and Jobs Act (TCJA).  What received a lot of attention in the media was the tax cuts for individuals. For Connecticut taxpayers, check…

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3 Proven Tax Smart Moves For Small Business to Save Money

Posted in Tax News on December 1, 2013

1) Adopt a Retirement Plan A business has several different retirement plans it could adopt.  The most common plan is the 401(k) plan.  With a 401(k) plan the employee is allowed to defer on a pre-tax basis up to $17,500…

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