Since most young adults are in a very low tax bracket, even 0%, a Roth IRA may be the perfect way to … [+] help your child begin to save and invest for their future. Getty You don’t have to be an adult to begin saving for retirement. Provided the teenager or college student has
Taxes
According to the Bureau of Prison Inmate Locator, Edward Brown, age 77, has a release date of 7/26/2045 and Elaine Brown, age 78, has a release date of 11/8/2042. Clearly, the sentences that they received in 2009 were virtually life sentences. They had been prosecuted as the result of a months long armed stand off
No one is a fan of PG&E right now, as Californians face the twin dangers of fires v. blackouts. As PG&E is cutting power again to vast numbers of businesses and consumers in what could be the biggest deliberate blackout ever, the bankrupt utility is drawing even more criticism. Despite the protection of the bankruptcy
Getty There are almost 75 million Baby Boomers—those born between 1946 and 1964—in the U.S. today. Approximately 10,000 of them retire each day. That’s a lot of potential people taking required minimum distributions (RMDs) who may not need them. After age 70 ½, an RMD must be withdrawn from your traditional IRAs and 401(k)s each
NEW YORK, NY – DECEMBER 19: Protestors demonstrate against the 2017 tax bill about to be passed by a … [+] Republican congress on December 19, 2017 on Wall Street in New York City. There were 15 voluntary arrests. (Photo by Andrew Lichtenstein/ Corbis via Getty Images) Corbis via Getty Images With all the problems
NORFOLK, VA – OCTOBER 18: Democratic Presidential Candidate Sen. Elizabeth Warren (D-MA) speaks … [+] during a town hall event. (Photo by Zach Gibson/Getty Images) Getty Images Democratic presidential hopeful Elizabeth Warren says she’ll disclose her plan to pay for universal, public health care within the “next few weeks.” But finding the $32 trillion she’ll need
Economic Security Planning, Inc. Today’s column addresses whether dividends and interest are subject to the Social Security earnings test, spousal benefits before retirement benefits, public pensions and restricted applications, retirement benefits before spousal benefits and restating after suspending a retirement benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and
The robots are coming for the tax planners, but from what I can see, we will probably last longer than the truck drivers. This is my tentative conclusion from poking around with Blue J Legal’s Tax Foresight. I spoke with CEO Ben Alarie about the company and the product. Then he had his team give
Economic Security Planning, Inc. Today’s column address whether to take retroactive benefits at 70, spousal benefits before retirement benefits, divorced spousal benefits with a public pension, when spousal benefits become available and filing early to allow spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
Share to facebook Share to twitter Share to linkedin “Let someone else fight over this long blood-stained sand,” Trump said. Mark Wilson/Getty Images Topline: Hours after Russian troops advanced further into northern Syria, President Trump announced on Wednesday that he will lift U.S. sanctions on Turkey after the country stopped hostilities and complied with a
Share to facebook Share to twitter Share to linkedin Trump’s infamous 5th Avenue shooting statement was made in 2016 and was invoked by one of his … [+] lawyers Wednesday. Tom Pennington/Getty Images Topline: As President Trump continues to fight efforts the obtain of his tax returns, a lawyer representing him in court argued that
Whether they’re handling business or personal finances, a good Certified Public Accountant (CPA) can be worth their weight in gold. Most entrepreneurs don’t start their journey with an in-depth knowledge of how to manage and organize business finances, and almost all of us would welcome expert assistance with our taxes. A good CPA can put
If you live in California, you probably know how aggressive California’s state tax agency can be. In fact, even if you live somewhere else, you might have heard of the Golden State’s aggressive tax rules. Buy a vacation home in California, and stay a little too long? Come into the state and do some work
The Tax Foundation’s 2020 State Business Tax Climate Index illustrates the states’ relative business … [+] tax burdens. (See: https://taxfoundation.org/2020-state-business-tax-climate-index/) The Tax Foundation The 27 states with the lightest tax burden on individuals continued to add jobs at double the rate of the 23 states with higher taxes since the federal tax cut was signed
You may not be laughing when you hear how small the Social Security Cost of Living Adjustment is for … [+] 2020. MAY 18: Jane Fonda and Lily Tomlin attend the Netflix FYSEE “Grace and Frankie” ATAS Official Red Carpet and Panel at Raleigh Studios on May 18, 2019 in Los Angeles, California. (Photo by
Share to facebook Share to twitter Share to linkedin The Supreme Court could take the case up during its current term. (Photo by Win McNamee) Getty Images Topline: President Donald Trump’s legal team and the Manhattan district attorney trying to get his tax returns came to an agreement Monday that could send the case up
Economic Security Planning, Inc. Today’s column address whether to take retroactive benefits at 70, spousal benefits before retirement benefits, divorced spousal benefits with a public pension, when spousal benefits become available and filing early to allow spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
The office of the Treasury Inspector General for Tax Administration is one of over sixty federal IG offices, but it is one that shows up in the news more than most. Most recently it was mentioned in the New York Times as investigating the handling of the request for President Trump’s tax returns. There is
People drink beer on a patio before the arrival of Tropical Storm Dorian in Boqueron, Puerto Rico, … [+] Tuesday, Aug. 27, 2019. (AP Photo/Ramon Espinosa) ASSOCIATED PRESS For most people in the U.S., it’s easy to forget Puerto Rico outside of the occasional still-in-trouble-after-hurricanes story you’ll see. But the picture is much worse than
Economic Security Planning, Inc. Today’s column addresses payment of survivor’s benefits to multiple spouses, common-law marriage, potential effects of benefits based on a spouse’s public pension, what to do with benefits received on behalf of children and the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president