If you have a lucrative day job and lose money on a different business activity, be warned. The IRS will not believe what you say about how you spend your time and the Tax Court will be skeptical. That is the main lesson in these two cases...Read More
The revelation that Facebook’s Mark Zuckerberg plans to exercise $5 billion worth of stock options before his IPO suggests his 2012 tax bill could be close to $2 billion! See Zuckerberg's 2012 personal income tax bill: $1.5 billion. If size matters, that will make Zuckerberg The Incredible Hulk of Taxpayers. After all, the 400 wealthiest filer...Read More
David John Marotta explains that the purpose of Marotta On Money is a weekly financial column and daily financial blog about the comprehensive wealth management small changes that have a large effect over time...Read More
Almost suddenly, General Electric (GE) has caught renewed investor attention as the latest stream of fresh government data emitted signals that the economy is finally turning the corner towards a strong recovery...Read More
The indictment of the Wegelin, the oldest Swiss private bank, moves the global banking transparency battle from bows and arrows to nuclear weapons. Do Swiss bankers' nerves fray after Wegelin indictment? Yes, no question...Read More
Could Liz Lemon (Tina Fey) snag a tax break for supporting her slacker boyfriend who’s moved in with her on NBC’s 30 Rock? Maybe. If your boyfriend, grandma or unemployed brother is crashing on your pull-out couch, you might be able to claim them as a dependent on your federal income tax return. Yes, it’s not just children, or even relatives, that ...Read More
Today's article on the New York Times website, "Expert Advice on the Best Ways to Secure Financial Aid," is a glaring example of more bad college advice. To say that parents should, "Embrace the fact that there is no 'secret,' no magic way to increase your aid chances," is misleading at best...Read More
A big rally is underway after a surprisingly good jobs report. According to the government unemployment fell to 8.3% last month, the lowest in 3 years. That news sent the Dow to it's highest level since 2008. At around 1 this afternoon the Dow was up almost 1.2%, the Nasdaq was up 1.6% and the S&P 500 is up nearly 1.4%...Read More
