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2018 Social Security Wage Base and Cost of Living Adjustments

Recently announced changes by the Social Security Administration: WORKERS:  If you have a job then you pay 6.2% of your earnings into the Social Security system.   The maximum amount of earnings subject to the Social Security tax – the so-called “wage base” – will increase from $127,200 to $128,700.  Of the estimated 175 million workers [...]

Tell Them What They Want To Hear

Should a financial relationship be about doing what’s right or feeling good?  The former, right?  Not so fast. A survey by index zealots DFA found the #1 thing valued in receiving financial guidance is a “sense of security / peace of mind.”  Not that that’s a bad thing of course but at 35% of respondents [...]

Relief for Taxpayers Impacted by Hurricane Harvey

Individuals and businesses impacted by Hurricane Harvey have been granted tax relief by the IRS.  The following counties are eligible: Aransas Bee Brazoria Calhoun Chambers Fort Bend Galveston Goliad Harris Jackson Kleberg Liberty Matagorda Nueces Refugio San Patricio Victoria Wharton EXTENSIONS:  Individuals and businesses with valid extensions (due to expire 10/16/17 and 9/15/17 respectively) will [...]

End of the Stretch IRA?

The powerful tax-deferral tool is likely nearing its end. WHAT IS STRETCHING: Sustaining and maximizing the tax-deferred status of an IRA when the beneficiary is a non-spouse such as a child. WHO LIKES IT: Beneficiaries who accrue years of compounded, tax-deferred growth while minimizing the Present Value of the liability (i.e. $1 in the future [...]

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