Qualified HSA Funding Distribution
There is an obscure tax rule that allows a one-time Traditional IRA-to-HSA conversion called a Qualified HSA Funding Distribution (QHFD).
There is an obscure tax rule that allows a one-time Traditional IRA-to-HSA conversion called a Qualified HSA Funding Distribution (QHFD).
Courtney Fraser Regan is a Wealth Manager and Investment Committee member at Marotta Wealth Management. She specializes in retirement accounts, required minimum distributions, and Roth conversions. She is also a portfolio manager who rebalances portfolios as well as trades in … Read More
Most people are unaware that giving a gift can be a taxable event because they themselves have not yet experienced the tax.
There are multiple ways we help our clients reduce or manage their taxes.
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.
Retirement planning should begin the moment you receive your first paycheck.
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.
Which account you should fund depends on your circumstances, but here are some general guidelines you can follow to make your decision.
Good financial planners can be worth their weight in gold in helping clients build a tax-efficient portfolio.
This is why we call ourselves comprehensive wealth managers.
The short answer is, “No.”
Matheson Russell was a Financial Analyst at Marotta Wealth Management, aiding the firm in their financial paperwork and analysis. He began work with the firm in 2011 as an intern and then independent contractor for Marotta Wealth Management. At the … Read More
A dollar saved on your taxes is better than a dollar earned which causes you to pay more tax.
A dollar saved on taxes is worth more than a dollar earned. If you earn another dollar, they will just tax you again.
Securing your retirement financially is too important to leave the process up to chance and guessing.
Do any of these ideas suggest any incentive for the highly productive to continue producing?
Follow-up information for 2013 AAII presentation “Dynamic Portfolio Construction in the Context of Comprehensive Wealth Management.”
Obama would have you believe that $2,200 is a fiscal cliff, but $119,878 is just paying their fair share.
It is a crisis fabricated 100% by politicians. And avoiding the fiscal cliff is being used hypocritically for additional political gain.
The victors in the recent election have declared it open hunting season on the rich, which they evidently believe will solve our spending problems. Tax hikes everywhere are aimed at the most productive members of society.
It’s time to consider adjusting your retirement savings. The Internal Revenue Service recently issued a variety of inflation adjustments for 2013, and retirement savers can now save even more.
Disparaging the entrepreneurial growth of small businesses as trickle-down economics misses the shower of prosperity.
Measuring progress regularly on the path toward retirement is critical. Fall too far behind, and you risk not being able to save enough to catch up. There is no downside to arriving early.
Most Americans assume a progressive tax code is needed to promote equality and remove some of the burden of other taxes on those with the lowest income. But the progressive nature of the tax code changes behavior in many ways.
Many families seek financial planning advice specifically for retirement. But if they wait too long, they miss an important tax-planning opportunity. A great strategy is to take advantage of the time between retirement and Social Security at age 70, the so-called gap years.
There are two opposing approaches to limit your AMT tax. The obvious strategy is to lower your income so you avoid this AMT bull’s-eye. The less obvious approach is to raise your income.
Advisors who offer comprehensive wealth management are like financial concierges. Their only goal is to meet your needs. If you ask for fresh strawberries, they try to find them for you.
Precious metals will, on average, just keep up with inflation, but your after tax return would mean you fell behind inflation by the 28% tax you must pay.
This article from Donald Jay Korn for Investor’s Business Daily describes the benefits of advance tax planning to reduce the tax bite that is inevitable as you grow older and required minimum distributions (RMDs) become a larger portion of your retirement account.
To build real wealth, you need specific wealth management tools.Most families have less than half of the accounts they really need, and young newlyweds often only have a checking account.
Going forward, tax management will be as significant as investment management in a comprehensive wealth management plan.
Most plans have funds laden with fees. Some share this revenue with plan sponsors, enticing them to pick more expensive funds to subsidize the costs of the plan or even make a profit.
Politicians are giving us no incentive to take care of ourselves. They are ensuring that government will need to save us.
No one approaches financial planning with the goal of paying more taxes. Tax management, like all financial planning, is based on the premise that small changes made over time can achieve big goals.
Filing early and then repaying is the least dangerous for those who are single or for a husband and wife whose benefits are roughly equal.
Every year many of us make New Year’s resolutions and then can’t follow through because we claim we’re too busy.
You can hedge your assets against underreported inflation and protect your retirement goals.
Some 401(k) plan’s generous matching contributions are completely eroded by the plan’s excessive expenses.
Megan Marotta Russell is the Chief Operating Officer and an Investment Committee member for Marotta Wealth Management. As Chief Operating Officer, Megan’s work alternates between high-level processes and day-to-day details. She is the primary designer of our internal workflows, oversees … Read More
While navigating the rules may be trickier, your child can still enjoy easy domestic employment even when someone else is the employer.
Yes, we are merely human, but our ideas and our analysis are powerful.
Unfortunately, you must order cashiering envelopes directly from a Schwab agent. Here’s how you do it.
Luckily for the charitably-inclined individuals with nondeductible balances, QCDs are excluded from your Form 8606 taxable and nontaxable calculations.
Edward Bellamy’s novel “Looking Backward” moved hearts and minds, ultimately moving nations and history.
Be sure to remember to tell your tax preparer that you did a QCD.
It turns out there is still a way to do a QCD out of those assets, but it requires a bit of planning ahead.
Although this 1040 looks smaller, it is not an upgrade for anyone except for the IRS.
We have four tenets of quality defining our customer service here at Marotta.
Here are seven techniques for small business owners to build real wealth.