There are other rules if you aren't still married. You can receive a spousal benefit even if your ex-spouse has not yet filed for his or her own benefits. Your ex-spouse must be age 62 or older.2 Note Taking a spousal benefit does not reduce or change the amount that your ...
Additionally, contributions to a traditional IRA may be tax-deductible, while contributions to a Roth IRA are made with after-tax dollars but can provide tax-free withdrawals in retirement. Therefore, a spousal IRA (whether traditional or Roth) provides taxpayers with long-term tax benefits that ...
What Are Social Security Disability Benefits? Social Security disability benefits come from payroll deductions required by the Federal Insurance Contributions Act (FICA) to cover the cost of Social Security benefits, such as retirement and spousal and survivor benefits.5 Some of this funding goes int...
Learn about domestic partnerships: what they are, how they differ from marriage, benefits, and the general requirements to register.
Learn why retirement savers often choose to use an IRA for their savings. Note the benefits of IRAs, such as how they impact taxes & other retirement accounts.
Before you claim Social Security early, you may want to think about how the move would impact your spousal benefits. To begin with, not all early filers can access those benefits immediately — and for those who are able to, the decision may not mean getting a bigger monthly check. It's...
Spousal Benefits:In the case of a deferred pension plan that offers spousal benefits, it’s important to understand the tax implications for the spouse. Depending on the jurisdiction and the specific structure of the plan, spousal benefits may have different tax treatment. ...
In doing so, you can maximize the benefits of an RRSP account for you and your spouse, no matter if one of you is not earning an income or earning much less. Read on to learn more about how a spousal RRSP account works, what the tax implications are, and how to open one with adi...
What are the Roth IRA benefits? What makes a Roth IRA so attractive to investors is the potential tax savings. If you think you'll be in a higher tax bracket when you retire than you are now, a Roth IRA may be more beneficial than a traditional IRA. The reason: You've already paid...
1. Spousal privilege One of the biggest similarities of civil union vs. marriage are the spousal privileges and rights both of these provide. Some of the common spousal privileges include inheritance rights, bereavement rights, and employee benefits. We will go into more detail for each of these...