Newsletter Archive

Marotta On Money - October 20 Newsletter



The Luck of the Lottery (10-19-2014)

Most forms of gambling are illegal at the federal level. Others are illegal at the state level. The FBI frequently busts participants of cyber casinos and foreign lotteries. In most places, both privately run casinos and lotteries with an entrance fee are also illegal. However, counterparts of both of these operated by the state or Native Americans are just fine. In states with a lottery, over half of its citizens have played. Sadly, a large number of those participants are below the poverty line. Government-run lotteries have a sordid and monopolistic past.
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In The News

Free NCEF Seminar: NAPs: Tax Credits for Giving to Local Charities

If you missed Matt's talk, you can download the slides and his narration at SlideShare. *Topic:* Neighborhood Assistance Programs: Tax Credits for Giving to Local Charities *Speaker:* Matthew Illian, CFP®, AIF® Wealth Manager, Marotta Wealth Management, Inc.
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When Donating a Dollar Only Costs Five Cents (11-08-2010)

According to a poll published last month by Fidelity Investments, Americans are likely to give the same amount or less to charity in 2010. But Virginians are fortunate to have a reason to donate 23 times more to charity this year. Virginia offers tax credits in exchange for donations to nonprofit organizations serving the truly needy. More than 200 charities have been designated Neighborhood Assistance Programs (NAPs). Donors to these approved charities are eligible to receive a Virginia tax credit for 40% of the value of their total contribution. Thus a gift of $1,000 to a NAP qualifies for a $400 Virginia tax credit.
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Philanthropy and Charitable Giving