Former United States President Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935. One of the benefits provided to United States citizens by the Social Security Act is a payment of “social insurance” to people over the age of 65 – today, the youngest age to receive disbursements is 62 – after they retire. 225 more words
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The long talked about and maligned tax cut legislation has finally passed, and will be signed as a Christmas present for all in tax lands. What has been some of the main talking points have been that the uber rich will receive more money back than the poorest of the poor and that companies having more of their money is not required for them to pay higher wages or hire more employees while expanding business, they could pay more to employees and hire more without a tax cut or expanding their business. 2,442 more words
When you’re planning your retirement, you have look at all of your income streams during retirement and the living expenses you’ll be expecting. You should also be checking on the taxes you’re expected to pay, specifically taxes on your Social Security income. 258 more words
You may have heard of self-employment tax and wondered if, and when, it might apply to you.
The self-employment tax isn’t complicated: it’s a tax that is a combination of Social Security and Medicare taxes. 351 more words
Real Talk Series: I’m Planning on Retiring This Year. What Should I do to Prepare for Next Tax Season?
Congratulations on your decision to retire this year! I’m sure you have worked hard and deserve to enjoy this new chapter in your life.
I’m so glad you asked this question, because whether you decide to travel, relax, or consult on the side in your retirement, there are a few things you need to consider as you prepare for next tax season: 657 more words