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Claiming Benefits Early…Sometimes There’s a Good Reason
For those approaching the early age for Social Security retirement benefits, it can be a big decision, especially for anyone struggling to remain financially afloat. Waiting beyond the earliest available filing age, of course, results in a slightly higher check…
Biden Looks to Taxation to Extend Medicare Solvency
The White House, in its budget plan scheduled to be released Thursday, is reported to be proposing an increase and expansion of the tax assessments faced by Americans earning more than $400,000. As reported in a New York Times article…
“Leaked” Thoughts on Social Security Reform
The Motley Fool’s Keith Speights, in a post on their website, reports on a series of ideas reportedly being discussed by several lawmakers with respect to Social Security reform. First on his list is the controversial thought of changing the…
Inflation and its Implications for Retirement Planning
Well, it looks like the days of controlled inflation are behind us for a while, despite rigorous attempts by oversight organizations to bring the economy back into a more favorable trajectory. Nevertheless, anyone conducting planning efforts for their retirement years…
How an Ex-Spouse’s Work Record can Influence One’s Benefit Amount
The Social Security rules on spousal benefits in a divorce situation can seem a bit complex, but the basic premise is that divorced spouses can receive a benefit based on their ex-spouses’ work record. And if the ex-spouses’ work record…
Proposed ruling would improve benefits for SSI recipients
As noted in the Federal Register. the comment period for a proposed regulation update that would help Supplemental Security Income recipients maximize their available benefits is open through April 17, 2023. Here’s a summary of the proposed rule excerpted from…
The Question of Whether to File a Tax Return When You Have Social Security Benefits
We’re nearing the end of the 2023 tax season, and one of the frequent questions that arise in the minds of those who receive Social Security benefits revolves around the issue of whether filing a return is necessary. Depending on…
Tax Season is at a midpoint, and Social Security taxation is on many minds
Tax season is the time when many of us are reminded of the daunting impact that income taxes–state and federal–have on our financial situation. And, as the tax season rapidly moves toward its April end, not being fully aware of…
The Complexities of Survivor Benefits Explained
Social Security benefits for surviving spouses can be rather complicated so, for financial planning purposes, it’s important that couples clearly understand how the process works. As in the case of most of Social Security’s regulations, the age at which this…
Georgia Congressman Rips into Labor Department ESG investment rule
Rep Rick Allen (R-GA), co-signer on H.J.Res.30 introduced February 7, 2023 by Rep. Andy Barr (R-KY), spoke on the House Floor against the Biden Administration Labor Department rule regarding ESG investment in long-term investment funds. Citing the Administration’s emphasis on…