How Roth Conversions Are Reported to the IRS
with No Comments

The Internal Revenue Service (IRS) is notorious for misunderstanding the recharacterizations of Roth conversions.

What Counts as Wages for the Social Security Earnings Test?
with No Comments

Contrary to the normal way of things, this time what Uncle Sam gives with the IRS, he takes away with the SSA.

What Counts as “Boot” in a 1031 Exchange?
with No Comments

1031 exchanges can include “boot,” which is an unofficial term for other property received in the exchange.

Radio Interview: Wills, Estates, and Beneficiaries
with No Comments

David and host Rob Schilling discuss what estate planning is, why you want to do it, and explain some of the jargon.

Mailbag: Unexpected Income and Estimated Taxes
with No Comments

How do you handle unexpected income that happens late in the year?

After-Tax IRA Contributions Must Be Reported On IRS Form 8606
with No Comments

The backdoor Roth strategy involves contributing after-tax funds to a traditional IRA.

What is the Kiddie Tax?
with No Comments

The kiddie tax was first added to the tax code in 1986 for children under age 14. Now, it can burden them until they are 23.

Trust Protections from Creditors and Spendthrift Beneficiaries
with No Comments

The beauty of trusts is that they are very flexible, and an estate lawyer can help you craft a document that will follow your wishes and give you peace of mind.

Mailbag: Where Does Cost Basis Go in a Partial 1031 Exchange?
with No Comments

In a 1031 exchange, the cost basis of the property you give up is rolled into the new property you receive.

When Are Taxes Due On A Roth Conversion?
with No Comments

Any tax which is ultimately going to be owed is owed by April 15th. Otherwise it may be subject to interest and penalties.

Mailbag: When Can I Move Into a 1031 Property?
with No Comments

Because 1031 exchanges are a great way to defer paying large amounts of capital gains tax, the IRS tends to be suspicious of them.

Jeb Bush’s Tax Plan
with No Comments

Bush’s tax plan is in good company with Trump, Rubio, and Lee. It hits many common Republican talking points but doesn’t seem to take its own reasoning very seriously.

Can I Contribute To A Roth IRA If I Don’t Have A Job?
with No Comments

You can only contribute to your Roth IRA if you have what the IRS calls “earned” income. This makes it all the more important to contribute to your Roth IRA every year you can.

Donald Trump’s Tax Plan
with No Comments

Tax season under Trump’s plan would likely be just as complicated but slightly less painful.

How Much Can I Contribute To A Roth IRA If I Earn Too Much?
with No Comments

I’m on the borderline for being able to contribute to a Roth IRA. How do I determine how much I can contribute?

How To Correct Excess Roth IRA Contributions
with No Comments

Regardless of the reason, if you have put too much money in your Roth IRA, the solution is the same.

Can I Contribute To My Wife’s Roth IRA?
with No Comments

I have earned income but my wife does not. Can I contribute to my wife’s Roth IRA?

Mailbag: Marco Rubio and Mike Lee’s Tax Plan
with No Comments

Is each dollar value the average for that category or is it really the average for a family with $88,871 in annual income?

How Much Can I Contribute To My SEP IRA?
with No Comments

The calculations for this are a little strange. Here is the formula and two examples of how it works to help you.

How Can I Contribute to Two Roths?
with No Comments

The terminology is a little confusing, but you are allowed to have and contribute to both individual retirement accounts and employment-related retirement accounts.

Rand Paul’s Tax Plan
with No Comments

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

What Should I Do With a 401(k) From a Previous Employer?
with No Comments

You have 3 basic options, but whichever option you choose, do not lose track of the accounts you own.

Can I Fund My Roth With Book Publishing Royalties?
with No Comments

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

A Guide to Your W-4
with No Comments

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

Can I Contribute to a Roth IRA?
with No Comments

How do you know if you can contribute to a Roth IRA? See this flowchart for answers.

Why Liberals Should Hate Real Estate Taxes
with No Comments

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

Tax by Fiat: Legacy of Alexander Hamilton
with No Comments

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

Tax by Fiat: Legacy of James Wilson
with No Comments

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

How Much Does the Government Cost?
with No Comments

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

Who Really Pays the Income Tax?
with No Comments

Income taxes are the largest portion of the federal government’s annual tax haul. But who foots the bill?

Wealth Redistribution and the Most Social President
with No Comments

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

One Hidden Way the IRS Hurts the Bereaved
with No Comments

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

Will Roth Conversion Affect My Estimated Tax Payments?
with No Comments

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

Inversion Is The Latest Corporate Tax-Cutting Strategy
with No Comments

The United States is the only country that imposes a tax on all income the company makes whether it is earned within or outside the country.

Five Lessons from the Whiskey Rebellion
with No Comments

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

Video: Virginia’s Neighborhood Assistance Program Tax Credits
with No Comments

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.

Mailbag: Can I Roll My IRA Into A REIT Tax-Free?
with No Comments

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?”

Taxes on Non-Deductible IRA Contributions
with No Comments

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

Capital Gains Tax Gets More Complicated
with No Comments

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

What is the Difference Between AGI and MAGI?
with No Comments

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.

Mailbag: How Do You Live When You Are Trying To Avoid Taxes?
with No Comments

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

The Tax Code’s War On Marriage
with No Comments

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.

Radio: Virginia’s Tax Freedom Day Today
with No Comments

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

Radio: Avoiding Excess Taxation
with No Comments

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

What Do You Mean I Owe An Extra $100,000 In Taxes?
with No Comments

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

Tax By Inflation
with No Comments

In its simplest form, the government prints money and uses the newly printed currency to fund government spending.

How Long Should I Keep Financial and Tax Records?
with No Comments

Whenever the IRS challenges you, the burden of producing evidence that your claims are true rests entirely with you.

Lifetime Exclusion From Gift Or Estate Taxes
with No Comments

When you die, your assets and belongings–called your “estate”–are subject to taxation, but the there is an amount under which the executor of your estate will not have to pay taxes.

Annual Exclusion From Gift Taxes
with No Comments

There is a limit, or exclusion–an amount that the government will allow you to gift to a person per year, without incurring tax consequences.

1 2 3 4

Subscribe to our newsletter!