For all but the ultra-wealthy, Social Security benefits will play a part in your retirement cash flow planning. Under its original design, it was meant to replace about 1/3 of the average persons retirement cash flow needs. Without proper planning it may end up being a larger piece of one’s retirement income. As retirement approaches, estimating income for the retirement …
Year End Tax Actions to Consider
It’s been two years since the last major tax changes were made by congress in 2017, but some of the changes were slow to be defined and understood. Here are some that affected most individual taxpayers to consider as we reach the end of the year. Withholdings and Estimates Withholdings and estimated taxes should be verified before year end, as …
Tax Breaks for Family Caregivers – Tax Planning
January 2019 Taking care of an elderly parent at home is not easy. New tax benefits may help some, but not all. As the number of elderly has grown nationwide, so has the need for caregivers. The baby boom generation, the largest demographical segment of the U.S. population at 74 million, are now entering their late 60s and early …