"Smash the cap"Many divorced people don't realize they can getSocial Securitybenefits derived from their ex-spouse's work history, said William Meyer, founder of Social Security Solutions, a website that helps people determine when and how to claim Social Security. Those who are aware of the...
The Social Security Administration (SSA) increases benefits periodically via acost-of-living adjustment (COLA)to keep pace with inflation. In 2023, due to the high inflationary environment, beneficiaries of Social Security and Supplemental Security Income (SSI) received an 8.7% COLA adjustment. As i...
There are several remedies available for thosewho are taxed on their Social Security benefits. Perhaps the most obvious solution is to reduce or eliminate the interest and dividends that are used in the IRS's provisional income formula (which is the same as the Social Security A...
In most states, most or all of the money goes to the deceased’s spouse and children. How do banks discover someone died?Banks need to know when an account holder dies, so accounts can be promptly closed and funds distributed. Family memberA common way for a bank to discover that an ...
When a loved one dies, whether it was unexpected or not, everything else can seem insignificant. Though the natural inclination might be to put things off, there are important legal and financial matters that need to be handled right away. Whether you're a spouse, partner, parent, sibling,...
J. D. B. SchillerMedical economics
After losing a spouse, how do you regain financial confidence and ensure long-term security? Losing a spouse can leave widows feeling overwhelmed, especially when it comes to finances. But taking control doesn’t have to be daunting—it can be empowering. In this episode, Stacy Francis and Na...
Your tax bill isn't chiseled in stone at the end of the year. Here are 10 tax tips and steps you can take after January 1 to help you lower your taxes, save money when preparing your tax return, and avoid tax penalties.
Most of the participants agreed that their position in the stepfamily was similar to that of a nanny rather than an equal spouse or relative:"He has told me that he feels that the point of remarriage is that a family can be better served. Therefore, in his opinion, I have to take car...
a portion of their Social Security benefits. Visit theSocial Security websitefor what you will need to do to collect. If you are entitled to your own benefits as well, then you are usually allowed to receive the larger of either your benefit or your share of your ex-spouse’s payments....