Today’s Social Security column addresses questions about when to switch from survivor’s benefits to retirement benefits, survivor’s benefits amounts after taking spousal benefits and whether claims of taking full retirement benefits at 55 are credible. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.
Taxes
The news is filled with stories about conflicts between taxpayers and tax collectors. Just a few weeks ago a New York jury convicted the Trump Organization of criminal fraud for a 15-year scheme to help top executives dodge taxes. While that case is a linguistic no-brainer, we often struggle to properly describe those who aggressively
In the past, you needed to take required minimum distributions (RMDs) around age 70.5. This year RMDs can be taken at age 73. For younger folks reading this post, the RMD age will rise to 75 on Jan 1, 2033. The taxes could be onerous regardless of when you will need to begin taking your
Sometime during the next two years — we don’t yet know when — the House of Representatives will be hosting a public orgy. House Speaker Kevin McCarthy, R-Calif., has promised to hold a floor vote on the FairTax Act of 2023 (H.R. 25). The promise was one of multiple concessions McCarthy made to the Freedom
What’s a paragraph worth in a thousand pages of Congressional legislation? Quite possibly, your ability to save thousands of dollars more in your company’s retirement plan. The news regarding SECURE 2.0 broke earlier this week from the National Association of Plan Advisors (NAPA) when a staffer at the American Retirement Association discovered a major glitch