August 30, 2015

Marco Rubio and Mike Lee’s Tax Plan

Marco Rubio and Mike Lee's Tax Plan

Rubio and Lee do make definite improvements but sadly, this good is largely undone by a well-meaning but naive tilt of the playing field towards parents.

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Education Improvement Scholarship Tax Credits

Education Improvement Scholarship Tax Credits

Virginia taxpayers can give generously and offset the cost of those gifts through tax credits and the avoidance of capital gains taxes.

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Rand Paul’s Tax Plan

Rand Paul's Tax Plan

2016 Presidential hopeful Rand Paul has released a sketch of an intriguing tax plan.

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Can I Fund My Roth With Book Publishing Royalties?

Can I Fund My Roth With Book Publishing Royalties?

Roth IRAs can only be funded with earned income and therein lies the confusion.

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How to Intentionally Realize Capital Gains

How to Intentionally Realize Capital Gains

Careful tax planning can avoid much of the capital gains tax.

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Radio: Knowing When to Realize Capital Gains

Old Radio

David Marotta was interviewed on the radio discussing how to figure out know when to realize capital gains and how much to realize when you do.

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Should I Fund a Roth or a Traditional Account?

Should I Fund a Roth or a Traditional Account?

As with many financial decisions, our gut feelings deceive us on this matter.

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A Guide to Your W-4

A Guide to Your W-4

All new employees have to fill out form W-4, but despite its ubiquity, most people don’t understand it.

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Tax Alpha: How to Fix a Client Portfolio

Tax Alpha: How to Fix a Client Portfolio

Good financial planners can be worth their weight in gold in helping clients build a tax-efficient portfolio.

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Why Liberals Should Hate Real Estate Taxes

Why Liberals Should Hate Real Estate Taxes

Taxes hurt ordinary folks before the extraordinary ones, and it can hurt them badly.

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How to Be a Good Executor

boxwood hedge maze

You’ve been named the executor of a relative’s will – now what?

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Tax by Fiat: Legacy of Alexander Hamilton

Tax by Fiat: Legacy of Alexander Hamilton

Hamilton, like our current president, sees people as temporary holders of wealth until such time as the government decides to expand.

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Schwab Intelligent Portfolios: Incomplete Rebalancing Algorithm

Schwab Intelligent Portfolios

See our review of the two pros and nine cons of how Schwab monitors and rebalances portfolios.

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Radio: Twelve Tax Planning Agenda Items To Do Before April 15

birds in snowstorm

It is better to do tax planning all throughout the year, but here are 12 things to do (or plan to do in the coming year) before April 15.

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Tax by Fiat: Legacy of James Wilson

Tax by Fiat: Legacy of James Wilson

The arguments for greater government power have always been the same.

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Preparing Your “Digital Estate” – Hardware and Digital Property

Preparing Your "Digital Estate:" Hardware and Digital Property

You probably have dozens of online accounts and possibly hundreds of dollars of digital property. What happens to it when you die?

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Preparing Your “Digital Estate” – Social Media Edition

Preparing Your Digital Estate

What happens to my Facebook, Twitter, Wordpress, and other online accounts when I die? Could I decide?

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Mailbag: Is There An Advantage For Me To Do A Roth Conversion?

Is There An Advantage For Me To Do A Roth Conversion?

My wife and I are 65 years old and I am newly retired. Is there any advantage in doing a Roth conversion this year?

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How Much Does the Government Cost?

How Much Does the Government Cost?

Is it fair for the government to confiscate a full quarter of the average person’s earnings every year? Where does it all go?

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Get Your Estate in Order, Pt. 3: Choose an Executor

Abandoned Plane

Who do I choose to be the executor of my estate? What will their basic duties be?

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Get Your Estate In Order, Pt. 2: Physical Assets

Man in Ocean

Today’s question: What do I want to happen to my physical belongings and assets after my death?

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Index of 2015 and 2014 Tax Tables

Tax Tables

Want the full list of tax tables? Here they are in one place for easy browsing.

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Get Your Estate Plan In Order – Even if You’re Only 26

Woman near campfire

Today’s question: What if something happens to me and I am not able to make decisions for myself?

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Wealth Redistribution and the Most Social President

The Most Social President

The loudest tend to drown out competitors regardless of whose reasoning is better.

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One Hidden Way the IRS Hurts the Bereaved

One Hidden Way the IRS Hurts the Bereaved

It is often said that the only two certainties in life are death and taxes. The IRS takes that truism to heart.

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2015 Tax Facts

2015 Tax Tables

The tax tables have arrived! Here are some highlights to keep in mind for the 2015 tax year.

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Will Roth Conversion Affect My Estimated Tax Payments?

Will Roth Conversion Affect My Estimated Tax Payments?

Roth conversions are a great way to save money and if you have a good financial planner, they need not be a headache.

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2015 IRA and Roth Contribution Limits

Retirement Plan Contrib Income Limits 2015_t

Here are the 2015 contribution limits and income phaseouts for contributions to Traditional IRAs and Roth IRAs for retirement saving planning.

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Tax Limits: 2015 Employer-Sponsored Retirement Plans

2015-employer-sponosored-retirement-plans_t

It’s important to know the limits so you don’t over-contribute and incur tax penalties, but contribute just the right amount (based on your income) for your future standard of living.

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How To Divide An Inherited Account Evenly

Money Divided

There is no accounting for how many heirs an account might need to be divided among in an estate plan. Here are the best practices for how to divide the estate.

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Five Lessons from the Whiskey Rebellion

Protest

The Whiskey Rebellion established the sovereignty of “we the people” to tax and oppress any selected group.

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Appreciating Donor Advised Funds

Wrapped Gifts

There are five ways that both you and the government could make charitable giving more significant.

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AAII 2014

David John Marotta presenting

The articles associated with David John Marotta’s presentation at the DC Metro chapter of the American Association of Individual Investors.

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How Do I Find An Estate Planning Attorney In My Area?

ACTEC

What is a better starting place than advertisements and phone directories?

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How To List A Charity As Your Beneficiary

Charity

There is a tax benefit to leaving some assets to your favorite charity rather than leaving it to your heirs.

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Mailbox: How Can I Leave My Estate To A Charity?

Gift Boxes

Leaving a legacy can be a great benefit for the charity receiving the gift.

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Video: Virginia’s Neighborhood Assistance Program Tax Credits

Early Bird Gets the Worm

This video discusses Neighborhood Assistance Programs, and how donating to a local charity can both help people in your area and help you with your Virginia tax bill.

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Mailbag: Can I Roll My IRA Into A REIT Tax-Free?

Can I Roll My IRA Into A REIT Tax-Free?

A reader asks, “My wife has a $250K SEP IRA earning 1.5% interest. Can we use any of the funds for real-estate investments?”

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Taxes on Non-Deductible IRA Contributions

Coffee and Cream

“Once you put cream in the coffee, all coffee removed from the cup is partly cream and partly coffee.”

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Fourteen Ways to Avoid Paying Capital Gains

Like water for money

The capital gains tax traps wealth in an investment vehicle requiring special techniques to free the capital without penalty.

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What is a 1031 Real Estate Exchange?

What is a 1031 Real Estate Exchange?

In our article “Fourteen Ways to Avoid Paying Capital Gains Tax”, we wrote about 1031 like-kind exchanges as a powerful tax-minimization tool for investors and business owners. Despite their complexity, these exchanges have the potential to save vast amounts of money.

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Capital Gains Tax Gets More Complicated

Holding breath

Now you may pay one of at least four different capital gains rates. The strategies to deal with capital gains differ for each level.

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What is the Difference Between AGI and MAGI?

What is the Difference Between AGI and MAGI?

MAGI is a common tax term to denote the resulting value of your adjusted gross income (AGI) with some items added back in. However, each use of MAGI may have different variables added back.

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Mailbag: How Do You Live When You Are Trying To Avoid Taxes?

1040 Form with Pencil

Having sufficient assets in a taxable account can allow for tax planning.

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The Tax Code’s War On Marriage

Marriage Penalty

Two different people can end up with very different amounts of tax owed, simply because of their marital status. You cannot argue this increased tax is their “fair share” simply because they are married.

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Virginia Neighborhood Assistance Program Tax Credits Coming Soon

empowerment

Church Hill Activities and Tutoring is one example of the many charities that are granted tax credits to share with donors.

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Radio: Virginia’s Tax Freedom Day Today

Free Parking

We estimate that if you didn’t have to pay taxes, you could leave work every day at 2:34pm.

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Radio: Avoiding Excess Taxation

Tax Tables

David John Marotta was interviewed on radio 1070 WINA’s Schilling Show on April 15 to discuss taxes and how to avoid excess taxation.

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Realize Some Capital Gains Each Year To Keep Taxes Low

Monopoly Stock Sale

There are at least four different capital gains tax rates. Here’s how to minimize yours.

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What Do You Mean I Owe An Extra $100,000 In Taxes?

Businessman Target

Ah, the joys of being a small business owner in 2013.

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