Claiming Social Security Benefits at Age 70
If you are about to turn 70,and have delayed claiming Social Security retirement benefits up till now, you are joining an elite group, but it’s important to know when and how to claim.
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If you are about to turn 70,and have delayed claiming Social Security retirement benefits up till now, you are joining an elite group, but it’s important to know when and how to claim.
Being the executor of an estate can be a time-consuming job, depending on the size and complexity of the estate. While a simple estate can take a few months and not require a huge time commitment, if there are problems, the job can drag on for years.
A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation.
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.
Tax day is fast approaching and you want to make sure you’re taking advantage of all the deductions and credits you’re entitled to.
Working seniors without dependents may qualify for the earned income tax credit when they file their 2021 tax returns. The tax credit assists those with low incomes but was previously primarily available to people with young children.
The estate and gift tax exemption is set to be cut in half in 2026. Proper planning may be necessary to make sure you are taking full advantage of the current exemption and aren’t negatively affected when it decreases.
Not everyone wants to take the required minimum distributions from their retirement accounts right away. If you don’t want your distribution, one option is to donate it to charity and get a tax deduction.
When loved ones pass away, there are lots of considerations, including what happens to their Social Security. The decedent’s payments need to be stopped, but survivor’s benefits may be available to the spouse or, in certain cases, children.
One of the many factors to consider when setting up a trust is whether to make it a grantor trust or a non-grantor trust. While a grantor trust is more common, a non-grantor trust can be useful in certain circumstances.
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