It is a crisis fabricated 100% by politicians. And avoiding the fiscal cliff is being used hypocritically for additional political gain.
There is a backdoor way to contribute to a Roth IRA for those who are not income eligible. This method requires the following steps:
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.
Currently the IRS is sending notices to anyone who did a Roth Recharacterization in 2010 asking them to pay as though they kept the entire conversion amount.
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.
“How can you respond if these new taxes are enacted? One option is to do a Roth conversion so that you can pay taxes now for those retirement funds.”
Who would have thought that someone earning $10,700 might want to purposefully push their taxable income up to $217,450 this year in order to pay $47,595 more in taxes at these lower 2012 tax rates?
Who would have thought that someone in the 33% tax bracket now who will be in a lower 28% tax bracket in the future might want to do a Roth conversion at his higher rates now?
Who would have thought that someone earning $400,000 might want to purposefully push their taxable income up to $1.2M this year in order to pay $280,000 more in taxes at these lower 2012 tax rates?
Who would have thought that someone earning $75,000 might want to purposefully push their taxable income up to $275,000 this year in order to pay as much as possible at these lower 2012 tax rates!
You may be a good candidate for a Roth conversion in 2012 if you can answer “yes” to any of these statements.
David John Marotta was featured in a Wall Street Journal article about the upcoming Roth recharacterization deadline.
Marotta’s Roth segregation technique of conversion and recharacterization was featured in InvestmentNews magazine.
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.
If you failed to convert anything last year, you missed an opportunity. If you converted much more than you probably wanted to, now you have to decide how much to keep.
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.
A complex technique called “Roth segregation accounts” could earn your investments an extra 30% over the next two years.
A complex technique called “Roth segregation accounts” could earn your investments an extra 30% over the next two years.
A complex technique called “Roth segregation accounts” could earn your investments an extra 30% over the next two years.
A complex technique called “Roth segregation accounts” could earn your investments an extra 30% over the next two years.
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.
Historically, income taxes have not been this low since 1931.
Some 401(k) plan’s generous matching contributions are completely eroded by the plan’s excessive expenses.
You can either pay now or pay more later.
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