Newsletter Archive

Marotta On Money - October 15 Newsletter



Obama vs. Romney -- Which Presidential Candidate Favors Small Businesses? (10-15-2012)

Two critical questions were raised during the first presidential debate: Are small businesses important to American's prosperity? And if they are, which candidate will unleash that engine of economic growth and employment? Fact-checking the candidates offers a clear answer. Romney began by claiming that "54 percent of America's workers work in businesses that are taxed not at the corporate tax rate, but at the individual tax rate. " This was how he justified lowering the top marginal tax rate even if we eliminated deductions and exemptions and collected the same amount of tax. I've argued before that effective tax is irrelevant.
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Tax planning for small business owners is crucial

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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