A nonworking wife with no Social Security benefits of her own cannot collect on her husband’s earnings record until he files for his Social Security benefit.
An evenly divided Senate might tweak rather than overhaul investment-advice policy, such as the treatment of rollovers, while resisting some tax increases Biden advocated during the election.
If your client is entitled to Social Security on her own earnings record, she may want to collect reduced retirement benefits at age 62.
“We need comprehensive capital gains reform,” incoming Senate Finance Committee Chairman Ron Wyden, D-Ore., said. “This is a kitchen-table issue.”
First course helps advisers identify planning opportunities in tax returns.
Social Security benefits are typically calculated using your highest 35 years of indexed earnings.
Democrats have been trying to restore unlimited deductions for state and local taxes since the 2017 tax law capped the benefit, but the effort will be tricky
Requesting a lump payout can make sense for some people.
No retroactive payouts are available before full retirement age
The IRMAA surcharges outlined in notification letters apply only to 2021 Medicare premiums based on 2019 tax returns.
The uncertainty around the Georgia runoffs in January complicates efforts to plan for the possibility of higher tax rates under Biden
I filed for my Social Security benefits online and you can, too
The Nobel Prize-winning musician may have sold his song collection, but 'Don’t Think Twice, It’s Alright,' because it’s a good year-end tax strategy
There is no value to delaying Social Security beyond age 70 since delayed retirement credits end then.
Pandemic-induced gig work provides opportunities for tax savings
Two new audits reveal underpayments to certain groups of beneficiaries
Here are some strategies for clients eager to lock in tax-efficient financial decisions before year-end
The increase comes off a low base; in 2018, the agency audited only 140 partnership returns out of more than 4 million filed
Full retirement age for survivor benefits may be different than for retirement benefits depending on the birth year.
Divided government is what the financial markets want most
