Click on the icon to read the December 2017 issue of the Social Security Standard Newsletter featuring: 5 Ways Social Security Protects You Is it Medicare or Medicaid? Questions and Answers Things to Think About Before Applying for Disability Benefits Social Security’s Gift to Children is...
Read MoreMost people are aware of IRAs and 401(k) accounts as tax deduction vehicles, but many people aren’t aware of the other major retirement savings tax break, the Retirement Savings Contributions Credit, or as it’s more commonly known, the “Saver’s Credit.” The Saver’s Credit is designed to make it easier for low- to moderate-income...
Read MoreIf you have a Roth IRA, that’s fantastic — you are planning for the future. But do you really understand them? Here are five common misconceptions about Roth IRAs. MYTH: You’ll get an immediate tax break. That is the case with a traditional IRA. However, if you do everything right, you’ll get to withdraw the money tax free! MYTH: The contribution...
Read MoreRetirement sounds really great, especially after a lifetime of working. But if you are looking to retire at 62, there are three things you should consider that will impact you: You’ll have lower Social Security benefits; You’ll have to wait for Medicare; and You’ll have to fund your retirement longer. If you are financially stable enough where...
Read MoreThe IRS is catching up to the unreported income of Uber drivers and Airbnb hosts, and they are closing their tax loophole. The IRS recently unveiled a website, the Sharing Economy Resource Center, aimed at helping those in the “sharing” or “gig” economy meet their tax obligations. If you want to learn more, you can read the full article The...
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