Pundits spend a good deal of time advising Americans about the best age to claim Social Security – at age 62, at full retirement age, at age 70 and the like. But they hardly ever discuss the nuts and bolts of applying for Social Security benefits. They should. You see, the seemingly simple act of [...]
According to recently released data, the IRS has processed 128.8 million tax returns submitted in 2017 so far, and has issued more than 97 million refunds. The average taxpayer who received a refund got $2,763, an increase of roughly 2% over last year. Here’s a closer look at the data and how Americans are planning [...]
Get rid of that notion that retirement must be a time to cut costs and pinch pennies. Rather, plenty of people seem to be in a position to splurge a bit after claiming Social Security benefits. Most people are able to maintain or increase their spending slightly once they start receiving retirement benefits, according to a new [...]
When we think about consumer debt, we tend to point a finger at folks for whom shopping sprees are a way of life. But the real reason a large number of Americans wind up in financial trouble has nothing to do with self-indulgence or an inability to resist temptation. Rather, it’s a matter of medical [...]
For many Americans, retirement is a mixed bag. On one hand, countless seniors enjoy the flexibility and freedom retirement offers. On the other hand, finances, or a glaring lack thereof, are a major concern for older Americans, especially since so many go into retirement ill-equipped to live off a fixed income. Here's some key data [...]
How Does an LLC Owner Get Paid? The limited liability company (LLC) is a peculiar form of business type, and a recent addition to the types of businesses. There are two types of LLC's - a single owner LLC (called a "single-member LLC") and a multiple-owner (multiple-member) LLC. As a member of an LLC, either [...]
So, you owe the IRS. Bummer. Here's how to plan better for next year While all your friends are posting on Facebook about what they plan to do with their tax returns, you're scrambling to figure out how you'e going to drum up the money you owe in taxes. Paying taxes can be a bummer, especially if you are [...]
Here are 5 reasons Trump and Congress are struggling with tax reform A tax reform plan was supposedly imminent when President Trump met with airline executives at the White House on Feb. 9. “We're way ahead of schedule,” Trump said then. “We're going to be announcing something, I would say, over the next two or three [...]
Tax Day isn't likely to be easier next year: Bill Sternberg Republicans don't agree on changes to the tax code any more than they do changes to Obamacare. We got our tax returns back from the accountant the other day. Although our family finances aren’t unusually complicated, our federal and state returns for 2016 were [...]
Most United States citizens see taxes as a fact of life, something that can't be avoided, or controlled. In many cases, according to a new study from Pew Research, they also view them as being unfair, a system rigged against the little guy in favor of big business and wealthy people. "Among the public overall, [...]
