Changes in the Air from the SSA

Posted · Add Comment

Autumn is that time of year when the federal government begins to announce changes that will affect taxpayers in the coming calendar year. In this vein, the Social Security Administration (SSA) recently announced some important changes to the 2018 wage base for social security tax, as well as an increased threshold for the Nanny tax. […]

New Law Reduces Popular Social Security Planning Strategies

Posted · Add Comment

As with all government programs, regulatory complexity brings with it a variety of planning opportunities. Social Security is no exception, and since the passage of the Senior Citizens Freedom to Work Act in 2000, many married couples have been able to take advantage of a strategic planning initiative that ultimately increases the couple’s payments under […]

Income Tax and Social Security Benefits

Posted · Add Comment

One of the more surprising and frustrating elements of federal income taxation is the need for seniors, who have worked their entire lives paying into the Social Security system, to include the payments they receive from the government, once retired, in their taxable incomes. As a result of this requirement, many seniors find themselves with […]