How Do You Report Qualified Withdrawals from Roth Contribution Basis?
with No Comments

To take advantage of tax-free penalty-free Roth withdrawals of contribution basis, you need to keep careful records of your Roth contributions.

Q&A: Can I Fund My HSA with Appreciated Stock?
with No Comments

Sadly, the IRS is very clear about this; contributions must be cash.

#BestOf2020 Should I Pull Out of the Stock Market Now?
with No Comments

A timeless question with a consistent answer, this article helps you determine if your asset allocation is appropriate enough that you should continue to stay the course.

SRI Equivocates on The Word ‘Invest’
with No Comments

Instead of changing your investment strategy, you should focus on changing your spending habits and charitable giving to help further the social good you want in the world.

Do I Want To Give My Financial Advisor Discretion on My Account?
with No Comments

Having a financial advisor who has discretion over your accounts is only a good idea if your financial advisor is covered under the fiduciary duty and is fee-only.

#BestOf2020 Who Pays Taxes and Penalties on 529 Distributions and How?
with No Comments

Step by step, this article shows how you can determine what taxes and penalties are owed on non-qualified distributions.

Q&A: How Much K-12 Tuition Can I Reimburse from 529 Plan?
with No Comments

By flowing money through a 529 account, a Virginia tax payer could receive a $575 discount on their private school tuition.

Q&A: Should I Be My Brother’s Power of Attorney?
with No Comments

Interestingly, being a fiduciary though is not a job description as much as it is descriptive of the kind of job that you do.

How to Avoid an IRMAA Medicare Premium Surcharge 2021
with No Comments

Depending on your particular case and Social Security agent, you may get your surcharge waived, lowered, or upheld.

Q&A: If I Close My Oldest Roth IRA, Do I Change My 5-Year Clock?
with No Comments

Fortunately, closing a specific account doesn’t reset your Roth clock.

How to Turn Monthly Returns Into an Average Annual Return in Excel
with No Comments

There are three clear options: future value schedule, a product array, or a large table.

#TBT The Happy Habits of Appreciation and Gratitude
with No Comments

This 2016 article reminds us that “there is a very simple place to start the process of changing our destiny: Each day notice the things that make you happy and try experiencing more of them.”

How to View Realized Capital Gains and Losses on Schwab.com
with No Comments

Sometimes you may want to check in on your current running total of net capital gains during the current tax year. Luckily, there is a page on Schwab Alliance which shows you just that.

We Added a Sector Tilt to our Foreign Dynamic Tilt (November 2020)
with No Comments

We hope this small increased exposure to foreign healthcare will help capture some of the efficiencies we believe to have found.

The Haunting of Bob Cratchit: An Interview with Brendon Marotta
with No Comments

A new book by David John Marotta and Brendon Marotta makes you rethink what is happening in Charles Dickens’ A Christmas Carol.

The Haunting of Bob Cratchit: A New Book from David Marotta
with No Comments

In the same night in which Ebenezer Scrooge is haunted, the spirits also visit Bob Cratchit.

Q&A: Can I Convert an Inherited IRA to Roth?
with No Comments

Roth conversions can only be performed during the IRA owner’s lifetime.

How to Pick Your Charitable Giving Target for State Tax Credits
with No Comments

Which of these three methodologies you prefer depends on your reason for giving.

Pay Your State Tax By Donating to Charity
with No Comments

If you have a tax credit eligible charity where you like their work better than the state government, then consider redirecting your state tax to fund the charity instead.

How to Report NAP Credits on a Virginia Return
with No Comments

Luckily, the form is organized by type of tax credit and the NAP credit section of Schedule CR is only five lines long.

Five Ways to Thrift Your Empty Gearharts Chocolates Box
with No Comments

I cannot throw away such a delightful box.

Gift Ideas for 3-Year-Olds
with No Comments

As the proud mother of a now four-year-old daughter, I thought I’d record some of my and my firstborn’s favorite things from this past year as helpful ideas for gifts from grandparents.

Q&A: Can I Make a Prior-Year Roth Conversion This Year?
with No Comments

Alas, the year you move the funds from traditional IRA to Roth IRA is the year that those assets are taxed.

Q&A: Are There Any Restrictions on How Much or Who Can Convert to Roth?
with No Comments

Taxpayers of any income level, age, and employment or retirement status can convert their pre-tax individual retirement assets to Roth IRA.

#TBT How Not to Go Broke at Thanksgiving
with No Comments

As the season of holiday shopping approaches, this 2018 article reminds us, “Before you throw your money at various companies, squirrel some savings away for your future self.”

The 2020 Joint Charitable Standard Deduction: $300 or $600?
with No Comments

The draft 2020 Form 1040 instructions clarify: the $300 limit is per form.

How to Spend: Convenience is a Surcharge
with No Comments

Choosing the right moments to buy convenience with your money brings value to your life.

Q&A: Can You Be My Investing Back-up?
with No Comments

An important part of the family’s emergency plan is to make sure you have a plan for when the financial spouse can no longer serve the family in that way, either because they are no longer interested or because of their incapacity.

#TBT Our Customized Roth Conversion Recommendations
with No Comments

This 2017 article reminds us that there is not one best Roth conversion plan that you can apply to everyone.

Q&A: Should I Name My Heirs or My Trust as Contingent Beneficiaries After The SECURE Act?
with No Comments

Depending on your situation, outright beneficiary designations could be a cleaner estate planning solution.

Q&A: Why Do You Pick Such Weird Images for Your Articles?
with No Comments

We have an almost secret code behind the images we select.

The Full Complexity of All Required Minimum Distribution Divisors Explained (2020 Update)
with No Comments

The SECURE Act of 2019 changed several things, so here is an updated review of this complex subject.

Marotta Family Saying: Parental Reminder Number 42
with No Comments

“Parental Reminder #42” reminds us that goodness is something bigger than we can articulate but, even though we cannot express it fully, it is very important.

Roth IRAs, 529 Plans, and Financial Freedom (Megan Russell on FamVestor Podcast)
with No Comments

On Monday, October 26, 2020, Megan Russell was interviewed by Sunny Burns and Sunmarie Burns of the FamVestor podcast.

2021 Contribution Limits
with No Comments

Most stayed the same while HSAs and employers saw increased contribution limits.

Mortgage Escrow Shortfall: 12-Month Spread or One-Time Payment?
with No Comments

If you are a responsible saver, keeping the liquidity in your pocket until the bill deadline expands your options for both growth and savings.

This Month, We Removed the Energy Overweight from Our Allocations (October 2020)
with No Comments

We believe that holding on to Energy and waiting for it to recover might mean missing out on greater gains elsewhere.

A Guide to Your In-Plan Roth Conversion at RiversEdge
with No Comments

The form is amazingly straightforward. Once the paperwork has been processed though, it can be difficult to find out how much was converted.

How to Inherit a Roth IRA Outright From a Trust at Schwab
with No Comments

Beneficiary designations directly to your heirs are a cleaner estate planning solution.

The Most Tax-Efficient Method of Leaving Assets to Charity in Your Estate
with No Comments

If you have a charity among your heirs, there is the possibility for tax savings.

#TBT Vote Early Instead of Voting Absentee (Virginia)
with No Comments

Voting early is as easy as voting in-person. You can vote whenever is convenient for you including right now and until October 30.

Using Complex Beneficiary Designations to Give Your Heirs Flexibility
with No Comments

Not every custodian is willing to accept the complexity, but I am grateful that Schwab is.

#TBT Where is Your Priority: Tax Preparation or Tax Planning?
with No Comments

Tax planning is very different than tax return preparation. The goal of tax preparation is to minimize your tax owed this year. The goal of tax planning is to maximize your after-tax net worth by minimizing your taxes owed over your lifetime.

How to Use An Efficient Frontier Graph
with No Comments

While an efficient frontier graph cannot hand you a perfect asset allocation, it remains a useful tool in analyzing what the past can tell us about a wide variety of investments.

Marotta Family Saying: Hit by the Bus
with No Comments

We pride ourselves on regularly and seamlessly offering our services regardless of who is working and who is taking time off.

#TBT Marital Harmony with a Few His and Her Budgets
with No Comments

Each spouse has different spending habits and values different things in life. It’s okay for your budget to reflect that.

How to Cash Your Paper Treasury Bond
with No Comments

Here is a guide for how to find out what your bond is worth, decide whether you should keep it until maturity or cash out early, and how to get money for your paper.

Our Answers to Paladin Registry’s 27-Question Interview
with No Comments

Regardless of the usefulness of their questions or their website, I enjoy answering every set of advisor questions I find.

Can a College Drop-Out Reimburse for Expenses Out of a 529 Plan?
with No Comments

Hopefully this simple guide helps you get started in the right direction for correcting these surprise excess distributions.

Vote Early Instead of Voting Absentee (Virginia)
with No Comments

Voting early has the same process as voting in-person.

1 2 3 4 14

Like what you read? Subscribe to our newsletter!