money matters a plan in that state. For example, residents of Connecticut can invest in a Connecticut sponsored 529 and receive a $5,000 (single tax filer) State tax deduction ($10,000 if you file a joint tax return) on contributions made prior to December 31st.
8
Consider a Roth conversion. An individual with a traditional IRA and low taxable
income might want to convert that traditional IRA to a Roth IRA before the end of the year. The conversion to a Roth IRA is going to be reported as taxable income, so some might take advantage of paying that tax in a lower tax bracket. Roth IRAs grow tax deferred and the distributions after age 591/2 are tax free,
COIN LAUNDRY CELEBRATING THE GRAND OPENING OF OUR NEW STORE IN DEVON! • • • • • •
Close, Clean & Convenient Family Friendly, Safe Environment Flat Screen TV’s & FREE WI-FI New Large Capacity Washers & Dryers Drop-Off Services Available; Woodmont & Center Stores only Dry Cleaning Drop Off; Woodmont Store only
NOW WITH 3 MILFORD LOCATIONS TO SERVE YOU…
WOODMONT
Adams Plaza 1361 New Haven Ave. 7am - 8pm
CENTER
Next to Hospital 2015 Bridgeport Ave. 4am -12 Midnight
DEVON
Naugatuck Ave. & Rt 1 548 Naugatuck Ave 6am – 10pm
www.SockHopCoinLaundry.com
42 Milford Living • Autumn