Tax Planning: Review your 1040
34
How to Read Your 1040 April 18, 2012 Charlottesville Senior Center David John Marotta Matthew Illian Austin Johnston www.MarottaOnMoney.com
-
Upload
david-john-marotta -
Category
Lifestyle
-
view
785 -
download
2
description
David John Marotta, Matthew Illian, and Austin Johnston discuss how tax returns are the key to unlocking many financial planning and estate planning mysteries. Attend this seminar to discover what you can learn from just a few pages of the often-dreaded IRS tax form, and how the tax code may be changing in 2013.
Transcript of Tax Planning: Review your 1040
How to Read Your 1040
April 18, 2012Charlottesville Senior
CenterDavid John Marotta
Matthew IllianAustin Johnston
www.MarottaOnMoney.com
The Ongoing Economic Malaise
ROTH IRA Phaseouts: •$173,000-$183,000 (MFJ)•$110,000-$125,000 (Single)
Traditional IRA Phaseouts:
•$91,999-$112,000 (MFJ)•$57,999-$68,000 (Single)
Money InInvestment
Income Money Out
IRA
Roth
Taxable
Hide
$4,000
$4,000
$4,000
$4,000$4,000
$4,000
$24,000 State Tax Deduction
Virginia Land Preservation Tax Credits
15% - 25% OFF!
10y carry forward
$0 next year min
$5,700 Standar
dDeducti
on
$5,700 Standar
dDeducti
on
$5,700 Standar
dDeducti
on
$5,700 Standar
dDeducti
on
$4,000 Itemize
dDeducti
on
$4,000 Itemize
dDeducti
on
$4,000 Itemize
dDeducti
on
$4,000 Itemize
dDeducti
on
$8,000 Itemize
dDeducti
on
$8,000 Itemize
dDeducti
on
30-year fixed home mortgage.
$250,000 capital exemption.
Don’t buy mutual funds in taxableaccounts late in the year
Buy
Buy
$
Buy
Sell
Tax Lot Optimization
Buy
Buy
Buy
Buy
Buy
Buy
MFBuy
YouBuy
MFSell
Mutual Funds vs. Exchange Traded Funds (ETFs)
Consider moving
How to Read Your 1040
April 18, 2012Charlottesville Senior
CenterDavid John Marotta
Matthew IllianAustin Johnston
www.MarottaOnMoney.com
