Money

Want More Money and Benefits  from Uncle Sam  and Medicare

Marriage is made in heaven but lived on earth. Uncle Sam doesn’t make the latter any easier as you age. Social Security benefits began to be taxed in 1983. According to Kaplan, the taxation system is so bizarre that married couples with the same finances pay higher taxes than unmarried couples. There are two thresholds at which Social Security taxes kick in, with the applicable threshold being less than twice that of the threshold for an unmarried couple.
According to a new Washington University Law Review article, Federal Law punishes older couples who marry or stay married. If you encounter someone and fall in love during your golden years, you might be better off staying unmarried than getting married. Under current federal law, you and your long-term partner might be able to salvage your struggling finances by divorcing after 60 years of marriage.

Thief Steals $2,000 Fundraiser Money in San Gabriel Valley Donut Shop Burglary

SAN GABRIEL VALLEY, Calif. – The aftermath of a deadly shooting at a dance hall in Monterey Park has been marred by yet another unfortunate incident. Money raised for survivors of the tragic event was stolen from a car parked outside a San Gabriel Valley donut shop. In security camera footage from early Tuesday morning outside Arcadia Donuts, a thief is seen breaking a car window and stealing a bag containing a laptop and $2,000 …

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Maine Character Energy: Charity Anthology Raises Money for Everytown for Gun Safety After Lewiston Mass Shooting

LEWISTON, Maine – In response to the tragic mass shooting that took place in October, a group of 11 Maine writers came together to create a collection of stories with the purpose of raising funds for the nonprofit organization Everytown for Gun Safety. The anthology, titled “Maine Character Energy: A Charity Anthology,” was the brainchild of editor Sarah Parke, who was inspired by a column written by Stephen King for The New York Times. This …

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Cut Your Tax Bill with Tax Loss Harvesting

You may be considering taking some losses this year, given the stock market’s performance this year. When you decide to do this, you are utilizing a process known as tax loss harvesting. When investments in a taxable account decline, it’s an excellent strategy to consider taking a loss, but there are some pitfalls to avoid. Tax loss harvesting involves selling investments in taxable accounts with paper losses so that investors can deduct those losses from their taxes when they file their returns.

How To Buy A Dream Retirement Home: 10 Tips For Success

No matter where you plan to retire, whether, in Costa Rica, Arizona, or Colorado, you’ll need a plan. Many retirees buy what they think is their dream home, only to discover that it doesn’t fit their new lifestyle. To make buying a home after retirement feel like a dream, follow these ten steps:

The IRS To Change Its Guidelines For Inherited IRAs

In February, the Internal Revenue Service proposed new rules for retirement accounts. A new 10-year payout rule for inherited IRAs was introduced in the 2019 Secure Act, which changed the rules on inherited IRAs. Previously, inheritors of an IRA, Roth IRA, or 401(k) could spread withdrawals over their lifetime.

Tips For Leaving An Inheritance

It is common for us to want to leave something behind to our heirs, but what is the best way to leave an inheritance and can we even afford to do so?

5 Money Theories That Aren’t Always Good For You

These cash theories can catch up with you over the long haul. 1. Take care of Your Mortgage Early One decision that might have become obsolete is taking care of your home loan quicker than expected. With mortgage rates being low, there’s a decent chance that using that cash somewhere else and procuring a better yield after some time might be the preferable choice over settling your home loan early. Attempting to settle on disposing …

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