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Congress letting 55 tax breaks expire at year end
In an almost annual ritual, Congress is letting a package of 55 popular tax breaks expire at the end of the year, creating uncertainty — once again — for millions of individuals and businesses.Lawmakers let these tax breaks lapse almost…
Retiring? Understand Social Security first
No matter how far away you are from retirement, it’s important to understand your Social Security benefits – and there’s a particularly good reason to do it now. The Social Security Administration (SSA) is bringing back annual paper benefits statements for…
IRS issues Pub. 15 and 15-B; 2014 withholding tables
The IRS has issued IRS Pub. 15 (Circular E), Employer’s Tax Guide and IRS Pub. 15-B, Employer’s Tax Guide to Fringe Benefits. Among, other things, Pub. 15 contains all of the withholding tables for wages paid on and after January…
Social Security: The Social Contract’s Comeback Year?
What a difference a year makes. Last year at this time, a president and a party who had just won an election with progressive rhetoric were quickly pivoting toward a “Grand Bargain” which would cut Social Security and Medicare. Leaders…
Editorial: New year will start rough for 213793 Californians
The new year isn’t starting well for 213,793 Californians; their unemployment benefits expired on Saturday, owing to inaction by House Republicans. Democrats on the House Ways and Means Committee released a state by state count of American workers who lost their benefits. California is one…
Entitlements gobbling up federal government’s revenue
One party refuses to raise taxes. The other party refuses to restrain the growth in Social Security and federal health programs. During the next decade, the federal government is projected to continue piling up hundreds of billions of dollars of debt,…
Social Security wage base update
Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit changes each…
Medicare age is still 65; you can apply online
If you’re in your 60s, you probably know that the age to receive full retirement benefits has changed. But it’s important to remember that the age to begin receiving Medicare has not: It is still 65. Even if you have…
Dialysis Centers Face Payment Cuts
Tracey Mooney is not looking forward to 2016. As chief financial officer for an organization that operates dialysis centers across Maryland, she expects to have some tough decisions to make about two years from now, when her industry could face crippling reductions in Medicare payments. There…
It’s almost 2014: Do you know where your money is?
December and January are the perfect months to look back at what you earned, saved and spent during the past year, as W-2s, account statements, and other year-end financial summaries roll in. Start by taking a look at your account balances.…