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  • Can My Wife Get Early Social Security Retirement Benefits Then Switch To Spousal?

    Can My Wife Get Early Social Security Retirement Benefits Then Switch To Spousal?

    Economic Security Planning, Inc. Today’s column addresses questions about taking retirement benefits early before switching to spousal benefits at full retirement age, whether or not to notify Social Security about a change in projected income and when widow’s benefits can be started. Larry Kotlikoff is a Professor of Economics at Boston University and the founder […] More

  • What Will Survive The Democratic Congress?

    What Will Survive The Democratic Congress?

    Tax-hungry legislators may go after incomes over $400,000. But they will likely leave in place a rich collection of avoidance devices. Here are ways that investors minimize damage from the IRS. Democrats, narrowly in control of Congress, are equipped to undo parts of the 2017 Trump tax cut and, perhaps, to attack some of the […] More

  • Extract Tax Benefits From Gig Work

    Extract Tax Benefits From Gig Work

    A series of strategies for tax-wise investors. Table of Contents. Gig. (Photo:Damian Dovarganes) ASSOCIATED PRESS Moonlighting yields some nice tax dodges. With side income you can: —deduct things you couldn’t from a salary, —grab a 20% “pass-through” freebie, —stuff savings into a Roth account. Say you and your spouse raise Yorkshire terriers. Income from that […] More

  • Optimize Your Charitable Giving By Using Your IRA

    Optimize Your Charitable Giving By Using Your IRA

    A series of strategies for tax-wise investors. Table of Contents. 501(c)(3) Associated Press “Qualified charitable distribution” is tax jargon for money you send directly to a charity from your pretax retirement account. This beats taking the money into your bank account and then writing a check to the charity. With the QCD, you keep the […] More

  • Optimize The Payoff From Converting An IRA To A Roth

    Optimize The Payoff From Converting An IRA To A Roth

    A series of strategies for tax-wise investors. Table of Contents. Conversion getty You can prepay income tax on some of your IRA, making future withdrawals tax-free. This is very clever if (a) your tax bracket is fairly low at the moment, and (b) you can cover the tax bill with money from outside the account. […] More

  • Will My Social Security Retirement Benefits Increase If I Keep Working After Filing?

    Will My Social Security Retirement Benefits Increase If I Keep Working After Filing?

    Economic Security Planning, Inc. Today’s column addresses questions about how continuing to work can increase benefit amounts, whether to file for early retirement benefits while receiving Social Security disability benefits and how the earnings test can affect a benefit taken before full retirement age. Larry Kotlikoff is a Professor of Economics at Boston University and […] More

  • Can My Girlfriend Get Her Retirement Benefit Now And Spousal Benefits When We Marry?

    Can My Girlfriend Get Her Retirement Benefit Now And Spousal Benefits When We Marry?

    Economic Security Planning, Inc. Today’s column addresses questions about becoming eligible for spousal benefits after marriage, drawing spousal benefits after taking early retirement benefits and when SSA recomputes benefit amounts to account for continuing income. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, […] More

  • Is It True That My Widow's Benefit Will Never Equal My Husband's Benefit At 70?

    Is It True That My Widow’s Benefit Will Never Equal My Husband’s Benefit At 70?

    Economic Security Planning, Inc. Today’s column addresses questions about widow’s benefits when a spouse dies before full retirement age, whether continuing income will increase benefits, having worked in the US and a foreign country and the possibility of taking spousal benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and […] More

  • Shouldn't I Be Getting Increased Social Security Retirement Benefits?

    Shouldn’t I Be Getting Increased Social Security Retirement Benefits?

    Economic Security Planning, Inc. Today’s column addresses questions about whether continuing to work ensures increased benefits, filing for reduced spousal benefits before a spouse passes away and the differences between restricted applications and filing for and suspending a retirement benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president […] More

  • Will Not Returning To Work Impact My Social Security Benefits?

    Will Not Returning To Work Impact My Social Security Benefits?

    Economic Security Planning, Inc. Today’s column addresses questions about potential effects on Social Security benefit amounts of not returning to work before filing, when to file to receive the full 32% increase from delayed retirement credits and when it is and is not possible to file for spousal benefits only. Larry Kotlikoff is a Professor […] More

  • How To Decide Whether To Convert An IRA And How Much To Convert

    How To Decide Whether To Convert An IRA And How Much To Convert

    getty The Roth IRA is one of the most powerful tax and retirement planning tools available, yet it is misunderstood and often misused. Many financial advisors have labeled 2020 as the best time to convert all or part of an IRA. Income taxes, and the cost of converting an IRA, might never be lower in […] More

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