How Many Gen Xers & Baby Boomers Have No Retirement Savings? The answer to that question is a staggering 41% of Gen Xers and 42% of baby boomers. If you fall among those numbers, it’s time to start changing your ways. Don’t count on falling back on social security benefits, because that won’t provide enough to support you in retirement. To...
Read MoreClick on the icon below 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 MoreThe recently passed tax bill brings many changes. One noteworthy change for businesses is the elimination of the ability to deduct entertainment expenses. According to a recent article titled “How tax overhaul would change business taxes” from the Journal of Accountancy®: “Entertainment expenses: The bill would disallow a deduction with respect to...
Read MoreIn 2016, Governor Cuomo signed into law the nation’s strongest and most comprehensive Paid Family Leave policy. Starting January 1, 2018, the New York State Paid Family Leave Program will provide New Yorkers job-protected, paid leave to bond with a new child, care for a loved one with a serious health condition or to help relieve family pressures when someone is...
Read MoreThe Internal Revenue Service has announced the annual inflation adjustments for a number of tax-related provisions for 2018, including, of course, the latest tax rate schedules and tax tables. The big news is, of course, the tax brackets and tax rates for 2018. The top tax rate remains 39.6%. The other marginal rates are: 10%, 15%, 25%, 28%, 33% and 35% (there is...
Read MoreIf you are fortunate enough to have a pension, you’ll have to make a choice when you are ready to claim this retirement benefit. Should I take my payout in a lump sum or in the form of a monthly pension check? This question might be better answered by the question: can I afford my monthly bills? A few things can effect the equation: Savings Health Status...
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