Could You Be on the Hook For Your Parents’ Care?

Over the past several years, the cost of long-term care for the elderly has soared, in tandem with healthcare costs in general. Some experts are now concerned the adult children of long-term care patients could be made legally liable for their unpaid bills. Here’s...
Are You Ignoring Retirement?

Are You Ignoring Retirement?

Are you ignoring your future retirement needs? That tends to happen when you are younger, retirement is far in the future, and you believe you have plenty of time to save for it. Some people ignore retirement until late in life and then have to scramble at the last...
Receiving Social Security Can Be Taxing

Receiving Social Security Can Be Taxing

Generally, your Social Security (SS) benefits are not taxable until your modified adjusted gross income (MAGI) is more than the base amount for your filing status. MAGI is your regular AGI (without Social Security income) plus 50% of your Social Security income plus...
Planning Your IRA Withdrawal?

Planning Your IRA Withdrawal?

Advance planning can, in many cases, minimize or even avoid taxes on a IRA Withdrawal and other qualified plan distributions. When contemplating future retirement and when to begin tapping taxable IRA and other qualified retirement accounts, taxpayers need to consider...