Erwin N. Griswold wrote: "We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two." "At least" as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets." Humor consoles the tax pains; a good financial advisor can help alleviate them.

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1. The Assault on Free Markets (2008-11-03)
   Free markets are under assault in America. We have seen much hyperbole and slander in these past two years of political polarization. But the idea of capitalism and free markets has received more negative campaigning and vicious attack than both candidates combined.
   
   
2. Inflation Part 2: The Results of Underreporting Inflation (2008-06-23)
   Officially, inflation today is about 4%. Unofficially, it is over 7%. Inflation at this rate causes serious harm to our nation's economy and its citizens.
   
   
3. Part 2: Privatization Could Fix Social Security (2008-10-20)
   Privatizing the system could break the political deadlock between cutting future benefits and raising payroll taxes. We can have both our benefits and lower taxes if we finally admit that socializing retirement was a mistake and once again trust in the power of free markets.
   
   
4. Inflation Part 1: How the Government Lies About Inflation (2008-06-16)
   Officially, inflation today is calculated about 4%. Unofficially, it is over 7%. Since 1997 the government Consumer Price Index (CPI) has manipulated the raw data and significantly underreported inflation.
   
   
5. IRAs Offer Big Tax Savings for Charitable Gifts (2007-10-22)
   For a few more days this year, the tax law will allow you to give to charity directly from your IRA and count that gift toward your required minimum distribution. Giving to charity from your IRA will also provide you with additional tax savings. But, to qualify, you must make your donations before 2008.
   
   
6. Kiddie Tax Loophole Soon to Disappear (2007-10-29)
   This year, Congress has made income-shifting a dream of the past, trapping more kids in the dreaded "kiddie tax." Beginning January 1, 2008, children under 24 will owe taxes on unearned income at their parents' higher tax rates.
   
   
7. Inflation Part 3: Protecting Yourself Against Inflation (2008-06-30)
   Officially, inflation today is calculated about 4%. Unofficially, it is over 7%. You can hedge your assets against underreported inflation and protect your retirement goals.
   
   
8. How to Pay Off Student Loans While Building Wealth (2007-05-07)
   The average college student graduates with almost $20,000 in student loans. But, some students may be better off not taking their parents' advice on how to get out of debt. Unlike most types of debt, student loans are usually best when paid as slowly as possible.
   
   
9. Remember to Fund Your Roth IRA (2008-03-10)
   If you are eligible, make sure you fund your Roth IRA or your Roth 401(k) this year with the maximum contribution possible. It may be your last chance to pay a reasonable tax rate before the prevailing winds of class envy swamp your retirement sailboat.
   
   
10. Tax Freedom Day 2008 (2008-04-21)
    This year we celebrate Tax Freedom Day on Wednesday, April 23. That's the day we stop working for the government and start working for ourselves. For average workers, all of our earnings for the first 113 days of the year go to pay federal, state and local taxes. Starting April 24, we are free--at last--to take care of our own family's needs.
    
    
11. Rebalance Accounts Regularly (2008-07-07)
    A year ago when the markets were all setting new highs, people were asking what they should do with their retirement portfolio. I answered, "Rebalance." Now that the market is setting new lows, I get the same question, and my response hasn't changed.
    
    
12. Subprime Lending (2008-05-05)
    The subprime mortgage meltdown has cost the world 15% of its market capitalization, about $9 trillion. The primary culprit who caused all of this financial loss, pain and suffering is not the mortgage companies. Neither is it the overextended borrowers. It is our own federal regulations interfering with the free market.
    
    
13. Taking Early Retirement Withdrawals (2008-05-26)
    Many academics are 403(b) rich. But they are poor in terms of their spendable assets, which limits estate planning and tax management options. It also makes retiring early difficult. Fortunately, an IRS 72(t) exception can help with early retirement.
    
    
14. Employee Retirement Options - Part 1 (2007-10-08)
    Most workers are putting all their retirement assets in the basket of their employer's retirement plan. They are depending on one employer and two dozen eggs (funds) to hatch and maintain their lifestyle, independence and dignity in their later years.
    
    
15. Avoid Capital Gains Tax on the Sale of Your Home (2006-07-10)
    If you own a home you are likely aware of the tax benefits such as deducting your mortgage interest and property taxes. However, you may not be aware of the tax-free earnings you can take after you sell your home. Under the Taxpayers Relief Act of 1997, capital gains generated from the sale of a primary residence are tax-free. Individuals pay no taxes on profits up to $250,000. And, couples are allowed to combine their tax credit and exclude up to twice the amount from a home sale.
    
    
16. Fund Your HSA to Cover Retirement Healthcare Costs (2007-11-12)
    Even if you do not need to, we recommend funding your account with the maximum allowed. If your HSA builds up it may help you cover any extra medical expenses during retirement.
    
    
17. How Shrewd Investors Save on Taxes (2007-12-10)
    When you're building wealth, saving a penny on your taxes is just as important as earning a penny in the markets. You can use both investment losses and investment gains to good tax advantage.
    
    
18. How Medicare Works (2007-11-19)
    Many seniors look forward to saving on medical insurance costs by enrolling in Medicare at age sixty-five. However, navigating the Medicare system is not for the faint of heart. Medicare is an alphabet soup of plan choices. Currently Medicare is organized as parts A through D.
    
    
19. Tax Rebates Are a Losing Proposition Part 1 (2008-05-12)
    Beginning this month until July, the government will issue over $100 billion in tax-stimulus checks, the equivalent of about 1% of annual consumer spending and some 70% of the country's $14 trillion gross domestic product (GDP). The assumption is that we can spend our way out of a recession by boosting third-quarter GDP growth over 4%.
    
    
20. Medicare Medical Savings Account Plans (2007-11-26)
    Medicare Medical Savings Account (MSA) Plans are one of the newest Medicare Advantage Plan options. Private companies began offering these accounts in 2007. Like Health Savings Accounts, a Medical Savings Account puts you in control of your own health care dollars. If you are in good health and want to limit the maximum you would need to pay in a medical emergency, you may want to consider a Medicare Medical Savings Account plan during your retirement years.
    
    
21. Foreign Freedom Investing 2008 (2008-07-14)
    You can both diversify for safety and boost your returns by adding international investments to your portfolio. In the past year, international stocks performed 2.5% better than U.S. stocks. And developed countries with the most economic freedom returned an additional 4.4% more than the international index.
    
    
22. Roth Conversions Can Help Build Wealth (2007-11-05)
    If you don't have retirement savings in Roth IRAs, it's time you considered the benefit of these tax-savings accounts. These so called "Roth conversions" can be performed on traditional IRAs. And, beginning in 2008, it will be easier to roll money from an employer plan into a Roth IRA.
    
    
23. Invest in Women (2008-01-21)
    Those countries with the greatest economic freedom and the highest level of gender equality also tend to exhibit superior performance in the stock market.
    
    
24. Dorothy in Taxland: Below the Line Deductions (2007-10-01)
    Below the line deductions are uncertain. Like many items in the tax code the correct answer to "Will they reduce my taxes?" is: "It depends." They are like Dorothy's first encounter with the Wizard. He promises to grant her requests if she would only bring him the witch's broomstick.
    
    
25. 529 Plans Help with Estate Planning (2008-04-14)
    While many parents are struggling, some grandparent have large estates. One effective estate-planning technique is using a 529 account both to fund their grandchildren's college and also help them avoid significant tax liabilities.
    
    
26. Qualified 529 Spending (2006-08-28)
    While most of the bills can be paid from a 529 college savings account, a couple thousand dollars in expenses will not qualify.
    
    
27. Start Your Own Dynasty Trust (2007-03-05)
    Dynasty trusts, also known as generation-skipping trusts, aren't just for the Rockefellers and the Morgans anymore. In recent years, a few states, including Virginia, have altered their "rules against perpetuities," allowing trusts to span multiple generations. All of this is good news for those interested in keeping wealth in the family. By allowing such dynasty trusts, a handful of states are making it easier to preserve and build family wealth for years to come. Unlike the trusts which helped John D. Rockefeller and J.P. Morgan keep their wealth in the family, this new breed of dynasty trust is not just for the mega-wealthy.
    
    
28. Roth IRA Conversion Makes Cents (2006-09-18)
    There are years and situations when a Roth conversion is not appropriate, but they are often surrounded by years when it should be considered.
    
    
29. Eliminate the Capital Gains Tax (2008-02-25)
    I've decided to run a mock campaign for president again as a forum to talk about public policy. Every four years I look for a candidate who understands economics, only to find politicians instead. If elected, I promise to do less harm.
    
    
30. Choose the Appropriate Investment Vehicle - Part 1 (2005-01-03)
    Different products have strengths and weaknesses. Each investor’s situation is unique. There are significant advantages to using different investment vehicles in different types of accounts.
    
    
31. Dorothy in Taxland - Tax on Marriage (2007-09-17)
    As Glinda advises us, "It's always best to start at the beginning," and at the beginning of the tax return is determining your filing status. Two different people can end up with very different amounts of tax owed, simply because of their filing status.
    
    
32. Roth IRA vs. the Traditional IRA (2006-09-11)
    Individual Retirement Accounts were created to give Americans an incentive to save for retirement by combining the benefits of compounding interest with a favorable tax status.
    
    
33. University Students: Getting Sucked Dry by Credit Cards (2007-09-03)
    Last week we listed the ways university student are enticed into using credit cards. This week we will examine the economical impact of those initially small and convenient monthly payments.
    
    
34. Tax Freedom Day Arrives on April 30, 2007 (2007-04-30)
    Tax Freedom Day arrives on Monday, April 30th this year. That's when we stop working for the government and start working for ourselves. For the average worker, all of the earnings of the first 119 days go to pay taxes to the federal, state, and local governments. Starting May 1st, we are free -- at last -- to take care of our own family's needs.
    
    
35. The Business of Being an Artist - Part 2 (2007-08-20)
    For those working in the arts, financial planning is artistic freedom. You can be an artist and also eat well if you don't avoid the subject of financial planning all together. After you have your cash flow and career planning in place, you also need to address your insurance and legal concerns.
    
    
36. Dorothy in Taxland: Above the Line Deductions (2007-09-10)
    Those with wealth look ahead and adjust their affairs according to the tax code. But, most Americans look backward and only hope that Uncle Sam will return some of what they have already paid. Living in the moment and only looking backward is a recipe for paying the most tax at the worst time.
    
    
37. NAPFA Consumer Education Foundation (2006-10-16)
    The non-profit NAPFA Consumer Education Foundation is offering a series of monthly presentations in Charlottesville, beginning this Saturday. The Foundation is dedicated to bringing consumer financial education to communities across America.
    
    
38. A Short History of Wall Street (2007-05-14)
    Last month I was in New York City for the weekend. Although our hotel was in Times Square, we had a chance to visit Wall Street while we were there. Wall Street is a testament of the spirit and vitality of free markets.
    
    
39. Minimum Wage Hurts the Poor (2007-01-01)
    Americans are very much in favor of raising the minimum wage. This fall, five states saw legislation to raise the minimum wage pass, in some cases by wide margins. However, American compassion can at times be misguided. Economist Robert Whaples, of Wake Forest University, found in a random polling of American economists, that 62% believed the minimum wage should remain unchanged, if not lowered or abolished altogether.
    
    
40. Tax Planning for Small Business Owners (2006-11-20)
    Small business owners enjoy more flexibility when it comes to tax maneuvering. That's why tax planning is especially important for small businesses. Whether your business employs one employee or one hundred employees, last-minute tax moves can save you money, if you act before the end of the year.
    
    
41. Tackling College Costs at the Eleventh Hour (2005-10-31)
    We’ve been asked, "My daughter is going to college next year, and I haven’t saved a dime. What can I do?" I know that story is not funny, but it is sadly close to the truth for many. The best way to climb the mountain of college costs is gradually, but if you need to make some last minute leaps, our government has a few tax-related strategies.
    
    
42. Bush policy taxes wealth by devaluing the dollar (2004-09-06)
    “The art of taxation,” said the French finance minister Jean Baptist Colbert, “consists in so plucking the goose as to get the most feathers with the least hissing.” The Republicans have proven themselves the better pluckers.
    
    
43. Taxes are NOT Funny (2005-04-25)
    It’s that time of the year again. "April is the month," one wit noted, "when the green returns to the lawn, the trees and the Internal Revenue Service."
    
    
44. Virginia is for Business Lovers (2006-09-04)
    The nation’s first Labor Day celebrations were held by the Central Labor Union in New York City in 1882. By 1894 every state was celebrating the accomplishments of American workers. While all states claim to be pro-labor, some have proven more effective at creating jobs for their labor force than others. Jobs follow economic freedom, not economic regulation. A recent article published by Forbes names Virginia the best place in America to do business... and where there is business there are jobs.
    
    
45. Choose the Appropriate Investment Vehicle - Part 3 (2005-01-17)
    There is an art to selecting the right investment vehicles for individual portfolios. Different types of advisors are prone to recommend different financial vehicles. You need to make certain that your best interests are used to best reach your financial objectives.
    
    
46. Medicare Part D deserves an F (2005-11-14)
    Medicare’s prescription drug program debuts January 1, 2006, marking the largest government entitlement program since Johnson’s Great Society. Known as 'Medicare Part D,' the plan subsidizes prescription coverage for millionaire and destitute seniors alike. But, the pork spending and boondoggle regulations aren’t even half the problem. Part D may bring some prescription benefits to low-income seniors in the short-term, but the unintended consequences are guaranteed to make us all sick in the long run.
    
    
47. Tax planning tips for 2006 (2006-12-04)
    Making time for year-end tax planning during the busy holiday season may sound like bad timing, but it may save you bundles of cash come April 15th. However, in order to make full use of these tax-saving tips, be sure to visit your tax professional before year's end. Once January 1st rolls around, there's little else you can do but pay-up.
    
    
48. Minimum Wage Helps the Rich (2007-01-08)
    For the millions of workers who struggle to make ends meet, legislation to raise minimum wage cannot come soon enough. A December poll conducted by The Wall Street Journal/NBC News shows 77% of Americans support increasing the minimum wage. Ironically though, minimum wage does more to benefit rich suburban young people than it does for the poorest members of our society. At its worst, minimum wage paves the way for employers to discriminate against our nation's minorities.
    
    
49. Build with Bricks, not Straw or Sticks (2005-09-05)
    We usually recommend only putting money in investments where there is a public market for pricing and trading. Requiring public pricing and trading for your investments will help you avoid some of the financial mistakes that can leave your financial house in ruins. The exceptions to this rule are few.
    
    
50. Look Over Your Tax Return (2005-05-02)
    Unless it was your birthday, most of us are glad we have almost a year before we have to get our tax information together again. Before you store this past year’s return in the basement, take fifteen minutes, put your 1040 on the table beside this article, and gain some valuable wisdom on your finances.
    
    
51. Conservation Easements (2006-11-06)
    Recent amendments to our tax laws provide conservationists with additional incentives to protect the natural beauty of their land. Landowners who relinquish their land development rights by donating a conservation easement can ensure that the natural beauty of their land is preserved in perpetuity. Currently, donors also receive tax breaks at the federal and state levels. For those who have already achieved their financial goals, donating their land development rights can bring additional the tax benefits.
    
    
52. Roth IRAs Make Great Estate Planning Tools (2006-09-25)
    If the tax-free growth of a Roth IRA wasn’t enough to wet your appetite, the estate planning benefits it offers should seal the deal. Bequeathing a Roth is much the same as setting up a life-time tax-free stream of income for your heirs. Because Uncle Sam has already taken his cut of the principal when you put the money in, withdrawals from a Roth can be made tax-free, either by you or by your beneficiaries. All this happens simply by naming the appropriate beneficiaries for your Roth.
    
    
53. Choose the Appropriate Investment Vehicle - Part 2 (2005-01-10)
    There is an art to selecting the right investment vehicles for individual portfolios. A good investment advisor will tailor the investments to the specific characteristics of the investor’s situation.
    
    
54. Should You Worry About Year-End Tax Planning? (2005-12-05)
    Even if you didn’t make a penny more next year, how can you have more dollars for next year’s holiday season? Reduce your taxes. Between now and the end of the year there are several last-minute tax moves that may save you significant amounts of money. After January 1st, there’s little to do but pay-up.
    
    
55. Tax Freedom Day Arrives on April 17th, 2005 (2005-04-18)
    Tax Freedom Day arrives on Sunday, April 17th this year. That’s when we stop working for government and start working for ourselves. For the average worker, all of the earnings of the first 107 days pay taxes to the federal, state and local governments. Starting April 18th, we are free -- at last -- to take care of our own family’s needs.
    
    
56. Taxes Matter 5 - The Economics and Mindset of the Rich (2004-08-23)
    Being rich often stems from finding your personal area of genius. Being rich involves finding the vocation where your productivity is most valued by society.
    
    
57. Tax Freedom Day Arrives on April 26th, 2006 (2006-04-17)
    Tax Freedom Day arrives on Wednesday, April 26th this year. That’s when we stop working for the government and start working for ourselves. For the average worker, all of the earnings of the first 116 days go to pay taxes to the federal, state and local governments. Starting April 27th, we are free -- at last -- to take care of our own family’s needs.
    
    
58. Using a mortgage wisely (2003-12-15)
    While most debt is bad, a home mortgage can be used to your advantage if you follow all seven of these rules when financing or refinancing your home.
    
    
59. The Benefits of Canadian Drugs are a Pack of Lies (2004-10-11)
    Pressure is mounting on US lawmakers to allow the reimportation of prescription drugs sold to Canada. A recent study by Illinois officials claimed that the state could save more than $90 million dollars by buying prescription drugs for state workers and retirees from Canada. Nothing could be further from the truth.
    
    
60. Taxes Matter 4 - Private Charity vs. Government Entitlement Programs (2004-08-16)
    Government entitlement programs lack several important characteristics that make charity a virtue.
    
    
61. Taxes Matter 1 - The Laffer Curve (2004-07-26)
    The Laffer Curve works. Give the wealthy a tax break and they end up shouldering an even greater share of the tax burden.
    
    
62. Taxes Matter 3 - Taxes reduce the opportunities for economy efficiencies (2004-08-09)
    Small business owners make the majority of the decisions about economic expansion and job growth when they decide if the expertise their company has to offer is efficient enough to justify the burden of taxes.
    
    
63. Social Security Can Be Saved (2004-01-12)
    Social Security can be saved. The solution actually costs less while preserving benefits. It is nothing short of miraculous.
    
    
64. The Growing Federal Deficit is Bush’s Fault (2004-08-30)
    In his first term Bush has increased spending more than the first terms of Carter, Clinton, and his father combined. Under his leadership, Republicans have lost the high moral ground of fiscal responsibility and rightfully endangered their control of congress.
    
    
65. Economic Hypocrisy Plagues Public Sector (2004-05-03)
    We act as if being a business owner is trivial enough to burden them with the responsibility of funding, implementing, and enforcing whatever social programs are in vogue. Then we exempt ourselves from taking the risk.
    
    
66. Gifting Your Gains Can Save You Money (2003-10-06)
    Americans are a generous people, and this is the time of year when most people do their charitable giving.
    
    
67. Foreign Trade Not Aid Encourages Freedom Abroad (2004-04-05)
    Foreign aid is like a parent playing for their child’s soccer team. The parent may score some goals in that game, but you will have a weaker team as soon as the parent steps off the field.
    
    
68. Ignore the Politicians and Take Control of Your Financial Freedom (2004-03-22)
    During elections the political dialog assumes that the wellbeing of your future is out of your control and in the hands of politicians. This is simply not true. You have the freedom to take control of your finances and your life.
    
    
69. Investment Losses Can Save You Money (2003-09-29)
    In the process of building wealth, saving a penny on your taxes is just as important as earning a penny in the markets.
    
    
70. California’s Recall is a warning to us all (2003-09-29)
    Forget the fact it is a political battle, we can still learn from the California recall fiasco.
    
    
71. Tax Cuts For Those Who Pay (2003-06-04)
    The recent tax cuts signed by President Bush are continuing to be attacked by Democratic Presidential hopefuls who say it is comprised largely of costly and unjustified tax breaks for the wealthy. Let's put tax cuts in terms everyone can understand: paying for lunch.
    
    
72. Tax Freedom Day 2003 Arrives in Virginia on April 15th (2003-04-12)
    Tax Freedom Day arrives in Virginia on Tuesday, April 15th this year. That’s when we stop working for government and start working for ourselves.
    
    
73. Don't Tax Dividends Twice (2003-01-11)
    The proposal to eliminate the double taxation of dividends is a good one for many reasons.
    
    
74. How to Avoid Another Stock Market Bubble (2002-09-02)
    We suggest that Congress look at the incentives they themselves have created in our so-called "system" of taxation.
    
    
75. Tax Freedom Day 2002 Arrives in Virginia on April 30th (2002-04-12)
    Tax Freedom Day arrives in Virginia on Wednesday, April 24th this year. That’s when we stop working for government and start working for ourselves.
    
    
76. Tax Freedom Day 2001 Arrives in Virginia on April 30th (2001-04-25)
    Tax Freedom Day arrives in Virginia on Monday, April 30th this year. That’s when we stop working for government and start working for ourselves.
    
    
77. Taxes Matter 2 - The Democratic Party Has Changed (2004-08-02)
    Historically, it used to be the liberal party that favored tax cuts. Not any more.
    
    

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