The Internal Revenue Service has stated that electronic filing is the safest, fastest and easiest way for taxpayers to file their tax returns. Furthermore, e-filing is good for the tax system,…
Friday, February 14, 2020
Scammers go to great lengths to trick you out of your personal information. We want to help you protect your information by helping you recognize a Social Security imposter.
Monday, February 10, 2020
The SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) was passed on Dec. 20, 2019 and is now effective for the 2020 tax year. It made many changes to how you save …
Earned income is not bank interest or dividends or a pension or life insurance proceeds or an insurance settlement or an inheritance or withdrawals of defined-contribution plan assets, includi…
Monday, February 03, 2020
Congress let many provisions expire on Dec. 31, 2017, making them dead for your already-filed 2018 tax returns. Congress resurrected the dead provisions retroactively to Jan. 1, 2018.
Are you looking for new ways to save time this new year? Social Security offers many of its services online by signing up for a secure a my Social Security account.
Monday, January 27, 2020
Below are additional tax changes for individuals for the 2019 tax-filing season.
Regular readers of Current Pension Topics know that I am a great fan of the Vanguard Wellington Fund. Do you know why? One of the Fund’s investment objectives is to maintain a ratio of holding…
Friday, January 17, 2020
With the New Year come new tax laws. The new tax law, commonly called the “Tax Cuts and Jobs Act,” is the biggest Federal tax law change in over 30 years. Below are some significant changes af…
Beginning on Jan. 8, field offices are remaining open until 4 p.m. on Wednesdays, with typical field office hours from 9 a.m. until 4 p.m., Monday through Friday. You can locate the closest fi…
Monday, January 13, 2020
First and foremost, I want to wish all my readers a happy and peaceful New Year. Your e-mails and calls are appreciated.
Two New Jersey Teachers report the same salary history. The first year they earned $30,000 with annual increases of 3 percent. 10 percent of their salary was contributed to their 403(b) accoun…
Monday, January 06, 2020
Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not.
We provide our online services to improve our service to you. Here are our top 10 websites of 2019:
Monday, December 30, 2019
Q.: I will be retiring from public employment next July. I have money in the pre-tax 457(b) and after-tax 457(b) accounts.
Many people pick up side jobs when the holiday shopping season comes around. It's a good way to make some extra income during the busy season or to ease back into work if you have been out of …
Monday, December 23, 2019
Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and…
Monday, December 16, 2019
As the end of the year approaches, the IRS encourages taxpayers to consider a tax-withholding check-up. When taxpayers take a close look to make sure that the right tax amount is withheld now,…
Monday, December 09, 2019
Social Security cares about accuracy and we want you to get the exact benefit amount you deserve. Changes in the law affect how we calculate monthly Medicare Part B (medical insurance) and Med…
A smart way to approach tax planning would be to look ahead, not back. Run through this list of tax-saving ideas to make sure you’re taking advantage of all the available opportunities to redu…