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Candidate Trump Offers a Glimpse of Potential Tax Strategy
In his June 9 Las Vegas rally, presumptive Republican presidential nominee Donald Trump announced his intent, if elected, to exempt tip income from “federal taxation.” Left undefined, though, is whether he’s referring to federal income tax or FICA tax (the…
The Probability of Retiring (and Living) on Social Security Benefits Alone
The Motley Fool’s James Brumley, in a post on their website, sends a note of caution to those with little (or no) savings but still heading toward their retirement years. On the basic question of whether Social Security will be…
Did You Know You Can Appeal Social Security Denials Online?
Social Security offers you many options to conduct business with us online. Far gone are the days when you needed to visit our offices or call us on the phone to appeal a denial of your disability benefits. Now you…
A Dialog on the Age 62 vs. FRA vs. Age 70 Claiming Question
It’s probably one of the most frequent questions any financial advisor receives: Should I claim Social Benefits as soon as possible or wait? Here at the AMAC Foundation Social Security Advisory Service, we hear it often, and our response always…
Achieving Social Security Solvency…A Political Analysis
Labeling the Biden and Trump positions of Social Security’s problems a “silent admission” they’d let benefits be cut dramatically, Mercatus Center at George Mason University’s Veronique de Rugy examines the options open to the Republican party to advocate meaningful reform.…
Congressional Subcommittee field hearing focuses on WEP & GPO
Friday’s Congressional Subcommittee led by U.S. Sen. Sherrod Brown (D-OH) offered public sector workers an opportunity to express their concerns with Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). The hearing led off with comments from a…
One View of the Solvency Issue and a Potential Solution
Social Security’s looming insolvency is beginning to get attention, finally. After all, the program’s Trustees have been sounding the alarm for about three decades, so even though its late in the 118th Congress, it’s great to see the debate shaping…
Will Medicare and Social Security be Available to the Next Generation?
Surveys show many Americans are concerned that Medicare and Social Security will not be there for them. This anxiety is fueled by the inaction of Congress to resolve the solvency issue. Read this article by Austin Denean for The National…
Learn about Social Security’s “Do Over” Option
Social Security has a little known rule called the “Do Over” option which can be helpful to early filers. You have the opportunity to stop your benefits and pay back what you have received with 1 year. This wipes the…
The Party who modifies Social Security will Reap Political Rewards
Eventually either benefits will be cut about 20% across the board or changes will be made. There are many different scenarios, some of which will push the burden (especially in the form of taxes) onto future generations. Read Veronique De…