News
3 Important Estate Planning Questions
Make sure your spouse knows your financial adviser and account information before you die.
Remember the famous line from Ben Franklin about death and taxes? "In this world nothing can be said to be certain, except death and taxes." Since tax day has come and gone this year, this is the perfect time to deal with the other sure thing.
Save For a House or Retirement?
How to balance funding a nest egg and a down payment on a house.
Which comes first: the house or the nest egg? Saving for a down payment on a house can compete with retirement savings. If you don't have a traditional pension, retirement is a do-it-yourself affair that requires sustained saving over a lifetime. But for young families, more immediate goals like purchasing a first home seem more pressing. Here are some strategies to help you buy a first home without compromising your retirement security.
Social Security Publishes New Supplemental Security Income Rules Involving Same-Sex Married Couples
Social Security has published new instructions that allow the agency to process some Supplemental Security Income (SSI) claims by individuals who are in a same-sex marriage. These instructions come in response to last year’s Supreme Court decision in U.S. v. Windsor which found Section 3 of the Defense of Marriage Act unconstitutional.
Social Security Announces New Compassionate Allowances Conditions
Carolyn W. Colvin, Acting Commissioner of Social Security, today announced 25 new Compassionate Allowances conditions, including a dozen cancers, bringing the total number of conditions to 225. The Compassionate Allowances program expedites disability decisions for Americans with the most serious disabilities to ensure that they receive their benefit decisions within days instead of months or years. The new conditions also include disorders that affect the digestive, neurological, immune, and multiple body systems.
Social Security Announces 1.5 Percent Benefit Increase for 2014
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 63 million Americans will increase 1.5 percent in 2014, the Social Security Administration announced today.
Proposition 30
Proposition 30 raises California's sales tax to 7.5% from 7.25%, a 3.45% percentage increase over current law.
Proposition 30 creates four high-income tax brackets for taxpayers with taxable incomes exceeding $250,000, $300,000, $500,000 and $1,000,000. This increased tax will be in effect for 7 years retroactive to January 1, 2012.
Payroll Tax Cut Extended
The House and Senate voted today to extend the payroll tax cut and unemployment benefits, while also avoiding a Medicare fee cut for doctors for the rest of the year. President Obama has promised to sign the legislation, which means Americans will continue to receive bigger paychecks through the rest of the year.
No 1099-K Line On 2012 Business Returns
The IRS has decided that businesses will not be required to reconcile their gross receipts with merchant card transactions reported on Form 1099-K on their 2012 or later returns.
