Newsletter Archive

Marotta On Money - July 25 Newsletter


Family Finances

Do Children Need To File A Tax Return To Fund Their Roth IRA? (07-24-2016)

Funding your Roth IRA is usually one of the best financial decisions you can make. This puts money where it will never be taxed again during your lifetime, which means it is of great advantage especially to young people who will experience tax-free growth for a much longer amount of time. Contributions to a Roth IRA are always made with after-tax dollars, so you don't get a tax deduction for contributing. However, since children rarely earn enough to have to pay taxes, it is nearly always better for them to fund a Roth IRA rather than a traditional IRA.
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In The News

Comparing Donor-Advised Funds

We have written before about the advantages of donor-advised funds. But there are multiple companies that offer these funds.
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University Students: Getting Suckered in with Credit Cards (08-27-2007)

Every University student knows they should have a credit card. You have to have a second form of ID on many financial transactions. You have to have one to establish good credit. And, the more you use them, the more you will accrue bonus points toward cash, mileage credits and various "free gifts". P. T. Barnum said, "There’s a sucker born every minute. " But it doesn't have to be you. About half of first year University students have at least one credit card. By the second year they nearly all do.
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Loans and Debt