Long-Term Care Insurance: Right for You?
Someday, you may need assistance with such routine daily activities as bathing, dressing or getting in and out of bed. An LTC insurance policy is there to help with the costs of such care should you have a chronic medical condition, a disability or a disorder like Alzheimer’s disease. Nearly 70% of 65-year-olds will need […]
Tax Changes to Think About in 2022
The 2021 tax landscape was filled with headlines about new, possible, and pending legislation. When the year ended, taxpayers were left with many questions about what taxes would look like in 2022. For now, the Build Back Better Act is on hold, and many provisions of the Tax Cuts and Jobs Act of 2017 expired, […]
Retirement Planning: Key Considerations
The concept of retirement is stressful for many people. Retiring in and of itself can be worrisome because it essentially entails a life where you no longer work yet you still need to support yourself. In addition to worrying about money, others wonder how they will fill the time. As such, the possibility of being […]
SSA Updates Key Numbers for 2022
The Social Security Administration reviews key numbers each year and usually makes adjustments. In a recent release, the SSA announced what is and is not changing for 2022. Here are the key changes: The maximum taxable earnings for the Social Security portion rises from $142,800 to $147,000. (There is no limit on the Medicare portion.) Exempt […]
IRS Announces Annual Inflation Adjustments
With the end of the year in sight, the IRS has announced inflation adjustments taking effect in the new year. This does not directly affect the taxes you’ll be filing by April 15, 2022. Rather, these adjustments generally apply to tax returns you will be filing in 2023. Although that seems far away, it pays […]
IRS Announces 2022 Limits for Retirement Plans
The IRS has announced the new retirement plan numbers for 2022. Retirement limits for 401(k) and similar plans are up. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500. IRA limits have changed for certain savers. If during the […]
