Tag Archive for: medicare

What Are The Tax Rates For Different Types Of Retirement Income?

Your IRAs, pensions, taxable accounts and Social Security distributions create various tax implications. So, it’s vital to understand them and implement strategies to reduce your tax liability and maximize your retirement funds.

Social Security Administration Making Substantial COLA Increase In 2023, But Is It Enough For Retirees?

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The COLA Social Security 8.7% adjustment for 2023 is the highest increase in decades. But some still worry that it may not be enough. While the increase is historic and needed, it is also inadequate for millions of older Americans who face skyrocketing housing and health care costs across the country. CLICK ON THE HEADLINE FOR MORE

The Inflation Reduction Act and Taxes: What You Should Know

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The U.S. Senate just passed the Inflation Reduction Act of 2022—a climate, energy, healthcare, and tax bill that would increase IRS funding, and change some tax policy and tax credits. The House of Representatives is expected to take up the legislation on Friday, August 12th In the meantime, it’s good to have information about how the Act might impact your taxes. CLICK ON THE HEADLINE FOR MORE

Here’s How Much Money You Could Get From Biden’s $1.85 Trillion Spending Bill

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The framework for the Build Back Better Act includes thousands of dollars in tax credits and federal assistance for millions of Americans. For the eight ways that the legislation could put money in your pocket and help you save, CLICK ON THE HEADLINE

Couples May Score A Bigger Tax Break With This Flexible Spending Account Strategy

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The American Rescue Plan boosted child-care assistance through temporary changes to dependent-care FSAs. The law increased 2021 dependent-care FSA limits to $10,500 from $5,000, offering a higher tax break on top of existing rules allowing more time to spend the money. CLICK ON THE HEADLINE FOR MORE

Is This Retirement Account The New 401(k)?

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The best place to stash your savings isn't a retirement account at all -- it's your health savings account. If you don't have one or don't know what they are, you definitely want to read this. CLICK ON THE HEADLINE FOR MORE