The Tax Treatment Of Bitcoin And Other Cryptocurrencies
For a currency intended to make money simple and easy, IRS regulations make it a nightmare of compliance issues.
For a currency intended to make money simple and easy, IRS regulations make it a nightmare of compliance issues.
There are two ways to transfer your account to a Schwab Institutional Intelligent Portfolios with Marotta Wealth Management.
Among its many changes, the Tax Cuts and Jobs Act created a new tax concept when it comes to managing the capital gains.
The capital gains tax is economically senseless. This 2014 post has fourteen of the loopholes the government’s gain tax unintentionally incentivizes.
According to Internal Revenue Code, in order for an account to be a 529 account, the custodian must meet six requirements.
One obscure way we earn our fee is in how we bill you.
We provide the administrative support necessary to oversee the entire distribution process.
One unsettled issue is the fate of Alternative Minimum Tax (AMT).
We’ve been waiting to see what our congressmen and women are going to decide for our 2018 tax law. As we’ve already entered the holiday season and can see the new year in sight, they are certainly cutting it close. … Read More
I recently watched a video by VOX called, “How tax breaks help the rich.” In the video, they discuss wealth inequality and claim that one of the biggest drivers of inequality is the tax code.
How do you determine the value of your gift of stock? The IRS doesn’t like you to use rough estimates on your tax forms; they prefer a black and white number.
There are many techniques to manage your capital gains for smart tax planning.
Like how diner coffee gets more bitter as the waitress tops off your cup with more coffee from the pot, so too the growth on your nondeductible assets increases your tax owed by decreasing the percent post-tax assets in your cup.
Unfortunately the age restriction makes the charitably-inclined young, who are more likely to be in the 0% capital gains bracket, unable to make QCDs.
I have learned there are so many more wise plans than just “top of the bracket” conversions.
Exact asset location depends on the percentage of a portfolio held in each of the three types of accounts as well as the percentage of the portfolio which is to be allocated to each selected sector. But the boost in after-tax returns is well worth the effort.
Many executors, trustees, or even estate plans make careless mistakes which end up in Roth IRAs being distributed too quickly. Here’s a list of ways to prevent your estate plan from ruining your Roth.
You can’t touch the earnings on your contributions until you’ve had an account open for 5 years and you’re either over age 59 ½ or you meet special exceptions.
If you are a mixed-decade couple, take advantage of the Joint divisor by making your spouse your primary and sole beneficiary for your IRA and use the Joint Life and Last Survivor Expectancy Table to find your RMD.
Instead of giving cash, there are two ways you may be able to give so more of your money goes to charity instead of the IRS.
What if you do not need all the money from your RMD and you are also charitably inclined?
When you sell an investment that has appreciated, the IRS looks at your tax rate and taxes the gains accordingly.
There are several strategies for using a donor advised fund which will help determine your asset allocation.
REITs are one way to get some of the benefit of investing in real estate without as much of the risk.
Too much leverage is risky because it endangers meeting your goals.
QCDs allow individuals age 70 1/2 or older to give directly to a charity from your IRA without counting the distribution as taxable income.
Giving appreciated stock not only allows you to support your favorite charity but also avoid paying capital gains tax on your gifted stock.
A donor advised fund makes the process of charitable giving simple and easy.
For children with lower incomes, there is an opportunity to give them appreciated stock to shift the capital gains to a lower tax bracket.
Because 1031 exchanges are a great way to defer paying large amounts of capital gains tax, the IRS tends to be suspicious of them.
Assumptions about these adjustments to your net worth should be made carefully and conservatively.
It is better to leave stock to a family member in your estate plan than to gift them the stock while you are alive.
We highly recommend a Donor Advised Fund for generous investors.
Tax season under Trump’s plan would likely be just as complicated but slightly less painful.
Virginia taxpayers can give generously and offset the cost of those gifts through tax credits and the avoidance of capital gains taxes.
Most tax professionals don’t think of such tax planning opportunities, because they have to focus on complying with tax accounting regulations.
We have 1,292 posts on Marotta on Money, but here are the 10 most visited posts on our blog.
Careful tax planning can avoid much of the capital gains tax.
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.
As with many financial decisions, our gut feelings deceive us on this matter.
Every nonprofit needs to keep an up-to-date list of the types of assets that they will accept as donations.
See our review of the two pros and nine cons of how Schwab monitors and rebalances portfolios.
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.
Want the full list of tax tables? Here they are in one place for easy browsing.
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.
The stock market is one of the few places that when things go on sale we are less likely to want to buy.
Exchange funds, also know as swap funds, can provide investors with one highly appreciated security a way to trade it for an equivalently valued but more diversified portfolio.
A donor advised fund makes giving easier.
The articles associated with David John Marotta’s presentation at the DC Metro chapter of the American Association of Individual Investors.
In our example, your gain/loss could vary from -$1,000 to +$3,500 depending on the method used.