Newsletter Archive

Marotta On Money - September 27 Newsletter

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Taxes and Tax Management

Rising Capital Gains Tax Hurts Everyone (09-27-2010)

Because of Obamacare and the failure of Congress to extend current tax rates, capital gains taxes will soon rise from 15% to 23. 8%. Take note, take heed, and take action. The tax increases will come in two stages, starting with a hike in 2011 from 15% to 20%. The 15% rate, established in the 2003 tax cuts, will expire at the end of this year. This is part of a more extensive rise in taxes taking effect January 1, 2011. Another capital gains tax hike was part of the Democrats' health-care bill. It adds an additional 3.
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Upcoming Events

10/14

Virginia Financial Literacy Summit

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In The News

Wednesday, Sept. 29, Seminar at Charlottesville Northside Library

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Should I Buy Land Preservation Tax Credits? (09-24-2010)

*Question: A coworker told me about a money-saving opportunity by purchasing Virginia land preservation tax credits. What is your opinion of this strategy? Please explain any of the risks involved. * *Sincerely,* *Taming the Tax Man*   Dear Taming the Tax Man,  I generally try to discourage financial advice from coworkers but not in this case. Virginia land preservation tax credits are a savvy way for you to save up to 25% on your state tax bill. These credits are created when a landowner gives up development rights to his or her land. Virginia budgets $100 million each year to promote this green initiative.
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taxes

Taxes and Tax Management