Social Security

Even those who haven’t had a pay cut are revisiting the decision, with 22% tweaking the date, most aiming for a later exit, research shows.

Collecting too soon means lifelong, permanent cuts in monthly payments to you, your spouse and any dependents, says New School professor Teresa Ghilarducci.

The majority of the latest payments went to Social Security recipients and beneficiaries.

“In a good economy, older workers can work and claim later; in a bad economy, older workers are pushed out into the arms of Social Security,” an expert says.

The planning needs and strategies for a woman should focus more heavily on longevity and creating lifetime income streams after her spouse has passed away.

An estimated 9 million people haven't yet received Economic Impact Payments provided under the CARES Act.

It comes as part of “an unprecedented series of extremely low” annual increases, according to an analyst with the nonpartisan Senior Citizens League.

More than 60 million Americans could receive slightly higher benefits next year, according to a nonpartisan advocacy group’s new projection.

The executive order provides "temporary relief for employers" to “pay the employee portion of Social Security payroll taxes,” confirms Republican Rep. Kevin Brady.

Threats to the program are multiplying and the coronavirus pandemic is accelerating a reckoning, according to a new analysis.

“Americans are relying on Social Security more than ever during this pandemic,” House Ways and Means Social Security subcommittee chairman John B. Larson wrote.

Trump’s order defers the payment deadline to the end of the year, though Treasury Secretary Steven Mnuchin has said company participation is optional.

The president has deferred payroll taxes that fund the program, and says he would eliminate them if elected to a second term.

New regulations have altered advice for Social Security, Roth conversions, tax code, estate planning and much more. Financial plans must be crafted with enough flexibility to change with the times.

From regulations to taxes, big changes could be in the offing.

The president said his action authorizes the U.S. Treasury to allow companies to defer — not suspend — payroll taxes for Americans making less than $100,000 a year from Sept. 1 through Dec. 31.

The program faces big challenges, including the coronavirus pandemic which could deplete the program’s $3-trillion trust fund as early as 2028.

A federal court decision that could be subject to appeal secured Social Security benefits for certain same-sex marriages that hadn't previously been eligible.

The new relief plan has something for many taxpayers, including retirees and the recently unemployed.

With many clients already home from work because of the pandemic, advisors are being asked why not now? For most, even the wealthy, the answer is clear.