If you ask several financial professionals about owning commercial real estate or even just owning your own building as a small business owner, some will think it is a great idea and others will think it is a terrible idea.
Read more ›Articles By: David John Marotta
Gifting Appreciated Stock To Family Members
Many family members give money to their children. For children with lower incomes, there is an opportunity to give them appreciated stock to shift the capital gains to a lower tax bracket.
Read more ›Do You Understand Your IRA Required Minimum Distributions (RMDs)?
After you reach the age of 70 1/2, the IRS requires you to begin taking minimum distributions from your traditional retirement accounts. The money you contribute to a traditional retirement account is not counted as income in the year you contribute it. As a result, it is put into the account without paying any tax.
Read more ›Safe Withdrawal Rate Adjustments
Safe withdrawal rate calculations are complex but, when done correctly, can provide an accurate assessment of a safe retirement lifestyle specifically for you.
Read more ›Social Security and Your Safe Withdrawal Rate
The best time to file for Social Security depends on the ages and income histories of both husband and wife. That being said, filing for Social Security at age 70 or at least after age 66 is usually best.
Read more ›Why You Should Use a Donor Advised Fund
Many Americans generously give to charity. Giving appreciated stock through a donor advised fund has several benefits over other methods of giving.
Read more ›Can I Write My Own Estate Plan?
As we have said before, estate planning is terribly difficult. Estate attorneys are expensive, the experience of working with them often awkward and frustrating, and the final set of documents wordy and confusing.
Read more ›How To Correct Excess Roth IRA Contributions
IRS rules are confusing and confused. Taking advantage of all the different types of accounts can result in great tax savings. It can also result in making mistakes. One common mistake is to contribute more than you are allowed to your Roth IRA.
Read more ›What Is A Backdoor Roth?
Your ability to contribute to a Roth 401(k) or Roth 403(b) is not limited by your income, but your ability to contribute to a Roth IRA is restricted as your income goes beyond a certain threshold.
Read more ›How to Convert Taxable Savings Into Your Roth IRA
One dollar is just the same as another dollar. Curiously though, our emotions do not perceive the world this way. To our emotions, our paycheck feels different from a gift card which feels different from a tax refund.
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