Tax Rules

SEP plans offer a powerful way to provide for your own retirement in the same way that 401ks do.

Using a 1031 exchange to turn investment property into residential property is possible, but it takes careful planning from the outset.

Here are the four criteria which must be met in order for margin loan interest to be tax deductible.

Without the burden of federal, state, and local taxes, you could leave your job at 2:27pm every day and earn the same salary.

David John Marotta was recently interviewed on radio 1070 WINA’s Schilling Show, discussing taxation and the burden of government.

The IRS does not do a good job of helping people understand capital gains taxes. They provide a worksheet to help you calculate it, but it has so many steps that it’s nearly impossible to figure out what’s going on.

Wash sale rules need to be followed when realizing capital losses for taxes but can be burdensome to track and monitor.

There are some cases that are not as straightforward and if you fall into these categories, you might not know whether or not you are allowed to contribute to a Roth IRA.

More than many other candidates, Ted Cruz’s tax plan aims to fundamentally change our tax system.

If you have not yet funded your Roth account for 2015, it is not too late!

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

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

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

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

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

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

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.

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.

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

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

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

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.

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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

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.

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?”

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

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

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.