If you get sick and require hospitalization due to COVID-19, you will be immediately isolated from family. So the time to finish up any unresolved advance planning and organization is now. Self-isolation and quarantines have given rise to unique problems and a new way of thinking. With a global pandemic and health and wellness becoming …
7 Estate Planning Things You Must Do in the Time of Coronavirus Read More »
With such a high standard deduction, taxpayers may not get additional itemized deductions for charitable donations. However, with a little clever planning in charitable giving, taxpayers can exceed the standard deduction, start itemizing again, and lower their tax bill. In 2017, the standard deduction was $6,350 for individuals and $12,700 for married couples. However, as …
New Ways to Give to Charity While Getting the Best Tax Breaks Read More »
While you were working, you likely relied on employer insurance. But after retirement your options are different, and that requires careful planning. Some 58% of people in the U.S. today get their health insurance through an employer, either their own or a spouse’s (or a parent’s, if under 26). Employers usually subsidize the premiums, so …
A key benefit of Social Security that most people never think about are the payments to survivors following the death of the primary wage earner. These payments can be life-saving for young families, of course, but they can also be very important in determining your retirement income. One of the first things to understand when …
Social Security Planning for Couples: Maximizing Survivor Benefits Read More »
With data breaches occurring more and more, it is important to protect personal information stored in online accounts with secure passwords. The majority of passwords do not pass the test. Learn how to create a password that will keep your data safe online. Would you rather wash the dishes than create a new password for …
How to Create Ultra-Secure Passwords That Keep Hackers Away Read More »
Social Security can be a tricky subject for many clients, with added complexity for small business owners. One common question concerns compensation for family members and their eligibility for Social Security. Here are the factors to consider. A common question asked by business owners is whether or not they should put a spouse on the …
Should Business Owners Put Spouse On Payroll
for Social Security Purposes? Read More »
On November 2, 2015, the Bipartisan Budget Act of 2015 was passed into law. In addition to budgetary provisions, the law closed certain “loopholes,” which changes the way married couples and divorced individuals may take advantage of Social Security benefits. Once the law is fully phased in, a high-earning spouse or divorced individual will no …
If you track your Social Security benefit estimates via your annual statement, you’ve probably noticed some variations. How can it be that the amount you are scheduled to receive at full retirement age (FRA) is different – perhaps even lower – than it was a few years ago? Earnings assumptions The reason is that the …
If your employer health plan is a health savings account (HSA) paired with a high-deductible health plan (HDHP), you may have a problem when you turn 65. Why? Because once you enroll in Medicare at 65, you (or your employer) may no longer contribute to your HSA. That’s just a rule. I know what you’re …
What if you or your spouse lives to a very ripe old age – to 90, 95, or even 100? The key to having enough income in your old age is to maximize the higher earning spouse’s benefit. This can be done by having the higher-earning spouse delay the start of benefits to age 70. …
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