The Bipartisan Budget Act of 2015 changed the rules on filing for spousal benefits underSocial Security, eliminating some popular claiming strategies that once allowed couples to increase their benefits. The new law didn't, however, do away with spousal benefits entirely. If you qualify...
The article offers information on the issue of same-sex spousal benefits in the U.S. It highlights the Internal Revenue Service (IRS) which created a formula to determine the employee's reportable wages and the amount of tax due. The article also mentions the Medicare tax rate in relation ...
The Cheapest Places to Retire Abroad Here’s where you can retire well overseas on a very small budget. Kathleen PeddicordFeb. 12, 2025 Social Security With Spousal Benefits Spousal Social Security benefits can be complex, but understanding them can help maximize your retirement income...
Pension plans often include spousal survivor benefits, which allow surviving spouses to receive part of the pension payments after the pension holder’s death. These benefits can play a key role in long-term financial planning for married couples, as they provide continued income forsurviving spouses...
The Cheapest Places to Retire Abroad Here’s where you can retire well overseas on a very small budget. Kathleen PeddicordFeb. 12, 2025 Social Security With Spousal Benefits Spousal Social Security benefits can be complex, but understanding them can help maximize your retirement income. Rachel ...
Planning for & Living in Retirement NexGen MoneyHome Retirement Daily Ask BobAsk Bob: How Do I Get the Most From Social Security Spousal Benefits? A reader wants to know how to maximize Social Security benefits for a couple at full retirement age. ...
you're not able to find a full-time job for the entire year and you have no taxable compensation. However, your spouse's taxable compensation is $50,000. Your spouse can contribute and deduct $5,500 to an IRA — and so can you, thanks to the Kay Bailey Hutchison Spousal IRA Limit....
Spousal Benefits Some states offertax reductions for widowsand widowers, such as a reduction in property taxes for a certain period of time. For example, in Florida, surviving spouses are entitled to receive a reduction in the taxable value of a property they own by $500 each year, in perpe...
Here's how to earn $65K a year just in interest The return on waiting to claim Social Security is 'huge' "That's when all of the creative filing went away for younger [beneficiaries]," Freitag said. While it can seem complicated, two things to remember about spousal benefits in general...
Not only did these strategies help him to save more, they also allowed him to take advantage of other tax benefits that he hadn’t previously been eligible for (which then reduced his costs even more)! He asked if I’d be interested in a case study (with his actual numbers) and I sa...