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The Run-Up to Tax Day
It’s tax time–no secret there–but it’s also the time to get your information in order so that there are no surprises when you file your return, For example, if your name has changed as a result of marriage or divorce,…
Canceled Debt and The Social Security Earnings Test
Situations where a credit card debt is written off generates taxable income for the beneficiary, but Social Security does not factor that as income toward the “Earnings Test” for folks not yet at their full retirement age. Certified public accountant Sally…
Retirement Investment Strategies: The 100 Minus Your Age Rule of Thumb
The rule of thumb is pretty simple. Take your age and subtract it from 100, and that’s–theoretically, anyway–a sound way to assess how much of your retirement financing should be invested in stocks. In an article by Robert Powell posted on www.usatoday.com, a number…
IRS Ups the Volume on Its Latest Scam Warning
Coming on the heels of major announcements and warnings about the newest scam involving Income Tax refunds and stolen Social Security numbers, IRS officials report that the number of potential victims has soared from a few hundred to “several thousand in…
Ex-Spouse Benefits And How They Affect You
(Source: Social Security Administration) Just like during tax season, it’s good to have all the information you need early so you can prepare and get any money you are due. If you are age 62, unmarried, and divorced from someone…
Understanding Governmental Assistance: SSI, SSDI, and Social Security
It can be confusing at times, trying to get a handle on how government programs designed to provide finance assistance to segments of the American public actually work. In an article posted on milestone.legalexaminer.com by Milestone Consulting’s John Bair, the scope and intracacies…
Some Important Social Security Details to Know
Beyond the basics, there are several key–albeit at times obscure–rules in Social Security that can be important to your plans for drawing benefits from the system. Social Security Public Affairs Specialist Josh Weller, in a post on www.9news.com, recaps five of these, including…
Thinking About an Off-Shore Retirement Destination? Here are some Things You Should Know.
It’s more than simply picking a place to move to. You should consider medical care, language difficulties, transportation capabilities, social engagement, taxes, and the relative cost of living, just to name a few factors. An article posted by www.personalcapital.com provides a…
An Update on the Taxation of Your Social Security Benefits
Heading into the depths of tax season, the question of how much of one’s Social Security benefit is taxable tends to cause some confusion. I a post today on www.forbes.com, staffer Kelly Phillips Erb provides a comprehensive explanation of this taxation…
Strategies for Bolstering 401(k)s
Using strategies like in-plan Roth conversions, where pre-tax dollars can be converted to after-tax dollars without leaving the account, people fitting a certain financial profile can improve the use of their accumulated wealth in retirement. Check out this article by…