Scott Anderson

CFP®, CPA, EA
Personal Finance, Retirement, Investing
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“With over 35 years of experience in the financial industry, Scott Anderson is committed to providing financial planning, discretionary investment management, and tax strategies to his clients.”
Firm:

Scott Anderson Financial

Job Title:

Founder

Biography:

Scott Anderson has spent over 35 years in corporate accounting and finance after earning his MBA from Stanford University in 1975. Scott has worked in his own businesses, in venture capital start ups, and in corporate turnaround situations. He has served as Chief Financial Officer for two emerging public companies.

Starting in 1999 following an unplanned business transition, Scott earned his CPA, CFP® and EA certifications and began an active practice in tax, financial and investment planning for individuals and small business owners.

For over 30 years, Scott has been teaching the beginning accounting courses in undergraduate and graduate programs at several local colleges and universities in Southern California. Currently he serves as Adjunct Professor in Accounting at Chapman University. Scott taught accounting in the Pepperdine University MBA and undergraduate business programs prior to that. .

Scott is an active member of the National Association of Personal Financial Advisors (NAPFA), an organization which supports fee-only financial planning and the fiduciary standard of professional care.

Scott earned an undergraduate degree in Chemical Engineering from the University of Pennsylvania on a Naval ROTC scholarship and a Masters in Chemical Oceanography from the Scripps Institution of Oceanography at the University of California, San Diego prior to going on active duty. Scott served in Vietnam where he received several decorations and was an Navy admiral’s aide in Washington, D.C. during the summer of Watergate before leaving the Navy to pursue his MBA studies.

Scott and his wife live in Newport Beach, California. They have three married daughters.

Education:

MBA, Finance and Accounting, Stanford University Graduate School of Business
BS, Chemical Engineering, University of Pennsylvania
MS, Chemical Oceanography, Scripps Institution of Oceanography, UCSD

Assets Under Management:

$14 million

CRD Number:

92658

All Answers
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Could I convert my IRA to a Roth and use the interest tax credit to reduce my tax liability on the transfer?
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The tax on the conversion is based on the taxable income and thus, the tax rate in the year of the conversion. The lower the tax rate, the lower the tax on the conversion. Tax credits do not lower the tax rate, but do offset part of the amount of the tax due. So it is totally possible to have tax on the conversion, but end up paying no tax due to the credits. (Note, it is not clear to me why you are getting "tax credits" on the termination of the reverse mortgage. Be sure you understood exactly what they mean.)

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