Taxes

• Tax Planning
  Contact us today to learn more about tax-planning products and services that are specifically tailored for your needs.
• Charitable Giving
  Often times, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies. By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate. Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.
• Estate Taxes
• Avoiding Probate
• Tax Services
  Business and individual income tax preparation and planning and representation in dealings with the IRS and various state taxing authorities.
• Roth IRA
  Individual Retirement Accounts (IRA) are tax qualified retirement plans that were established as way for individuals to save for retirement with the benefit of tax favored treatment. The traditional IRA allows for contributions to be made on a tax deductible basis and to accumulate without current taxation of earnings inside the account. Distributions from a traditional IRA are taxable. A Roth IRA is different in that the contributions are not tax deductible, however, the earnings growth is not currently taxable. To qualify for tax-free and penalty-free withdrawals of earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take plance after age 59 ½ or due to death, disability, or a first-time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes..
• Tax Deductions
  Presently, the tax code offers incentives for gifting of one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.
• Income Tax
  When money is withdrawn from an RESP, the student typically pays little tax, due to a low income tax rate
• Tax Deferral

Investment

• Investment Management
• Wealth Management
  The Avantax family of companies exclusively provide investment products and services through its representatives. Although Avantax Wealth Management

Accounting

• Accounting Services
• Payroll Services

Planning

• Financial Planning
  Our firm members believe that our professional and personal associations allow us to grow and understand the individual and business community to which we serve. Our professionals belong to the American Institute of CPA'S (including the Tax, Technology, and Personal Financial Planning Sections), The Connecticut Society of CPA's, The National Society of Accountants, Association of Insolvency Advisors, The Society of Certified Senior Advisors, and The Alzheimer's Association of Connecticut.
• Retirement Planning
  Retirement planning today has taken on many new dimensions that never had to be considered by earlier generations. For one, people are living longer. A person who turns 65 today could be expected to live as many as 20 years in retirement as compared to a retiree in 1950 who lived, on average, an additional 15 years. Longer life spans have created a number of new issues that need to be taken into consideration when planning for retirement.
• Long Term Care
  Longer life spans can also translate into more health issues that arise in the process of aging. The federal government provides a safety net in the form of Medicare, however, it may not provide the coverage needed especially in chronic illness cases. Planning for long-term care, in the event of a serious disability or chronic illness, is becoming a key element of retirement plans today.
• Asset Management
  Asset allocation is the process of selecting a mix of asset classes that closely matches an investor’s financial profile in terms of their investment preferences and tolerance for risk. It is based on the premise that the different asset classes have varying cycles of performance, and that by investing in multiple classes, the overall investment returns will be more stable and less susceptible to adverse movements in any one class.
• Charitable Remainder Trusts
• Charitable Lead Trusts
  Also known as an Income Trust this vehicle transfers the income rights to the charitable organization. Generally, the income rights are assigned for a specified period of time after which the remainder passes to the donor.
• College Funding