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Useful Reference & Planning Guides: 2018 Taxes, Long term care, Social Security, & Medicare

Manning & Napier produced four 2-page guides to the latest developments in federal income taxes,  long term care, Social Security, & medicare that are succinct and easy to understand. Check out:  Tax Reference Guide Our new tax guide has everything you need to know about tax reform, and changes to contribution limits and tax rates.…

How to figure taxes on Social Security Benefits

 Are My Social Security Benefits Taxable?  How to Understand Form SSA-1099 and Determine whether You Owe Taxes “Depending on the amount of alternate income that you have in retirement and your filing status, you could owe taxes on up to 85% of your Social Security benefits.” When you receive Social Security income, “you will also…

Social Security is NOT going bankrupt!

Despite the scare tactics of some journalists, Social Security is not going bankrupt and benefits do not need to be cut in order to make the system viable for the next 75 years. “Benefits cuts are unnecessary to preserve Social Security, even though the program’s trust fund is on track to be drained by 2034,…

GOP’s Plan to Overhaul Social Security

Tighten your seat belts as the assault on middle class America takes off even before the new administration takes office. As reported in The Fiscal Times, Rep. Sam Johnson (R-TX), chair of the House Ways and Means subcommittee on Social Security, “has begun circulating a proposal that would make major cuts and changes to the…

How to get 88 percent more from Social Security

Benefits of delaying Social Security retirement by Kelli B. Grant: “Someone who retires and begins claiming Social Security at age 70 would receive a benefit that’s 76 percent higher than the one he or she would receive at age 62. Factor in late-career earnings replacing a zero-income year and the increase becomes as much as…

Understanding Social Security: 35 years of earnings

While many Americans have strong opinions about Social Security, and too many people falsely believe that it won’t be there for them due to irresponsible media reports and irresponsible politicians, this blog attempts to educate people about the realities of Social Security. The Squared Away Blog from the Center for Retirement Research at Boston College,…