January 2, 2018
Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.
According to the Social Security Administration, some will be obligated to pay federal income taxes on Social Security benefits. This usually happens only if you have other substantial income in addition to your benefits (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return).
No one can avoid the long arm of the tax man altogether, but there are ways to reduce your income and lower (or even avoid paying) taxes on your Social Security benefits. Consider the following tips:
Of course, be sure to consult with our firm if you have questions and to ensure the best tax strategy. Here’s to a happy and financially healthy New Year!
We buy pets as holiday gifts with the best of intentions. Haven’t decades of commercials shown us that there’s nothing more adorable than a cute little ball of fluff jumping out of a gift-wrapped box into its new owners’ welcoming arms?
While most of us look forward to the holiday season, it can also be a major source of stress. We’ve borrowed several fast and easy mindfulness techniques you can use to help reduce stress when your “Ho-Ho-Ho!” turns into “Oh-No-No.”
When is the last time you thought about what you’re most thankful for? If you’re like most of us, it was probably last Thanksgiving. But even crazy and chaotic years have their points of light, so here’s a handy list to help prepare yourself in case you’re put on the spot at this year’s Thanksgiving dinner. By the way, It’s also a good reminder of just how much we have to be thankful for.