Access and growth concept photo credit: GettyI often describe retirement income planning like trying to hit a moving target in the wind. Our target is our goals – what we want to accomplish in retirement. The target moves because we don’t know how long we’ll be in retirement. And the wind represents the changing factors
Taxes
Share to facebook Share to twitter Share to linkedin I’m always fascinated — and frustrated — with the tug of war over Social Security: Will it survive? Should we expand or privatize it? How do we bolster it for those who really need it? Full disclosure: As someone who is looking forward to receiving it
With the 2020 presidential election underway, a few of the candidates have started addressing the mounting cost of higher education by presenting distinctive policy proposals on student loan debt. For example, Massachusetts senator Elizabeth Warren recently unveiled a proposal that would cancel up to $50,000 in student loan debt balances for households with annual incomes
TurboTax products sit on display at Costco on January 28, 2016 in Foster City, California. (Credit: Kimberly White/Getty Images for TurboTax) Getty In the weeks following tax season, one of the nation’s leading prep platforms has faced criticism for its methods of promoting products and the paid-tax prep industry as a whole. Last month, ProPublica reported
Share to facebook Share to twitter Share to linkedin The fervent quest for President Trump’s tax returns continues, and is actually heating up. So with all the tax return fever, shouldn’t he just hand them over? Like MAGA hats and the Wall, President Trump’s tax returns are polarizing, perhaps even a flash point. Scuffles over
Stephen Moore, visiting fellow at the Heritage Foundation, listens during an interview in Washington, D.C., U.S., on Thursday, May 2, 2019. Photo credit: Andrew Harrer, Bloomberg © 2019 Bloomberg Finance LP The day Stephen Moore’s name was first floated as a Federal Reserve board nominee, I happened to walk by him in downtown Washington D.C.
Late night tweets and Congressional investigations notwithstanding, there was a lot of positive energy coming out of the White House after President Trump met with Democratic leaders Nancy Pelosi and Chuck Schumer to try and get the long-stalled effort to rebuild the nation’s infrastructure moving. Anyone who spends time traveling around the US can attest
Cathleen Taff, president of distribution, franchise management, business and audience insight for Walt Disney Studios, discusses the upcoming Marvel film “Avengers: Endgame” during the Walt Disney Studios Motion Pictures presentation at CinemaCon 2019, the official convention of the National Association of Theatre Owners (NATO) at Caesars Palace. (Photo by Chris Pizzello/AP) Walt Disney (DIS), as
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column examines whether filing for early retirement benefits lower later survivor’s benefits, when spousal benefits might be available, how the earnings test can affect spousal benefit amounts, spousal benefits before retirement
Picture of cranes, pipes, scaffoldings and other building devices in dowtown Montreal, the main business hub of Quebec, and one of the biggest of canada, surrounded by condos and skyscrapers. Getty By: David J. Herzig and Todd Angkatavanich (National Tax Principal. EY) Chances are you have heard about Opportunity Zones (OZones) by now. They were created by
He calls it the Crime of the 21st Century. “It’s open season and there are no signs of abatement,” said Peter Lichtenberg. And though he’s not a financial planner, the Wayne State University psychology professor has made it his mission to help older people hold on to their money in spite of possible cognitive decline
There’s been a lot of talk lately about converting traditional IRAs to Roth IRAs. This talk arises from the 2017 Tax Cuts and Jobs Act. The new tax law, commonly referred to as “Trump’s Tax Cut,” created historically low tax rates. There’s a quirk in the 2017 Tax Act that shouldn’t be overlooked. Those historically
U.S. Secretary of Education Betsy DeVos Photo credit: The Washington Post/Getty Images (Photo by Bill O’Leary/The Washington Post via Getty Images) The latest student loan debt statistics show that more than 99% of people who applied for public service loan forgiveness have been rejected. Here’s what you need to know and what to do about it.
Increased tariffs designed to protect the U.S. steel industry are starting to have international repercussions in unexpected places with Malaysia launching an anti-dumping investigation into steel imported from Turkey, a country hit hard by the changed U.S. import rules. What’s upset Malaysia’s steel industry is a flood of cheap steel from Turkey that used to
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses whether marrying will cause Social Security benefits to end, how much income is exempt under the earnings test if you reach FRA this year, potential effects of suspending, which
Getty Getty When Gen Xers gather with friends, there is a common theme that pops up in the conversation. Whether at the kids’ softball game or over a glass of wine, the query comes with concern, and at times, hushed tones: “How are your parents doing?” While this seems like a fairly innocuous question, as
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses delaying till 70 or filing now to try to lock in benefits amounts even if they’re lower, potential availability of divorced spousal benefits, earnings Social Security credits, and when
Abusive Tax Shelters jda The U.S. Department of Justice has announced that it has obtained a permanent injunction against Michael L. Meyer (“Mike Meyer) of Florida from selling his “Ultimate Tax Plan” which used so-called Charitable LLCs and Charitable Limited Partnerships as part of an abusive tax scheme. The permanent injunction is very broad: Meyers
Redmond, WA, USA – January 30, 2018: One of the biggest Microsoft signs is placed next to green trees at a public intersection near Microsoft’s Redmond campus Getty Microsoft is on it! On April 15th CNBC published an article detailing how Microsoft responded quickly and efficiently after an email was shared throughout the company about
There is a subtle irony in the yacht chartering hobby loss decision from the Tax Court in the case of Charles and Rhoda Steiner. Judge Ruwe seems to argue that not being aggressive in taking deductions might be held against you. That would make for an exception to Reilly’s Eleventh Law Of Tax Planning –