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Category Archives: Retirement
Social Security Benefits for Widows & Widowers
What happens to Social Security benefits when a spouse dies? Let’s use an example of Bill and Ann Jones. Bill and Ann are both receiving Social Security benefits when Bill dies suddenly of a heart attack. Ann can keep her … Continue reading
Posted in Retirement
Tagged Social Security, Social Security benefits, survivor benefits, widow, widower
1 Comment
Social Security Benefits
Nearing retirement age? Not sure when to start receiving your social security? These are common questions among Americans in their 60s. Unfortunately, due to insufficient savings, in 2014 Social Security provided 100% of the retirement income for 15% of individuals … Continue reading
Posted in Retirement
Tagged full retirement age, Social Security, Social Security benefits
1 Comment
Inherited IRAs
Individual Retirement Accounts are considered to be exempt retirement funds within the meaning of the federal bankruptcy law. However, in a unanimous decision, the Supreme Court recently held that inherited IRAs do not qualify for protection from creditors in bankruptcy. … Continue reading
Posted in Retirement
Tagged bankruptcy, individual retirement account, inherited IRA, IRA, penalty, retired, Supreme Court
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IRA Rollover Distributions Within 60 Days
We had a question come up at work a few weeks ago and I think it’s a good strategy that few people take advantage of. One of our customers, let’s call him Bob, wanted to buy a car for his … Continue reading
Social Security Wage Base
The Social Security Administration has projected an increase in the Social Security wage base for 2014. The wage base is the amount up to which employees and employers are required to withhold 6.2% for Old Age, Survivors and Disability Insurance … Continue reading
Lisa the Tax Lady 