Your identity is priceless—to you—and to hundreds of thousands of hackers around the globe. They find ways to capture your information, hijack your money and credit and plunder them like conquering soldiers carrying off the spoils of war. The number of victims in this cyber war is growing at an alarming rate. The latest figures indicate that identity theft [...]
To paraphrase the lyrics of an old song—Social Security, it is a-changin’. In fact, it changes every year. 2026 is no different. There are six major changes you need to know about and prepare for. The Social Security cost-of-living adjustment (COLA) is going up Since 1975, Social Security has adjusted beneficiary payouts every year with a cost-of-living adjustment (COLA) [...]
As Medicare recipients plan and budget for healthcare expenses next year, the common question is, “What will Medicare cost.” And no wonder. The cost of healthcare for America’s senior citizens is out of control. According to a report from RBC Wealth Management , the projected lifetime cost of care for an average 65-year-old couple is $683,306—and that doesn’t factor in long-term care costs, [...]
Filing tax forms is never fun, but there are some changes coming in 2026 that will make the process easier for businesses who use independent contractors. Businesses that pay independent contractors (non-employees) for services are required to file IRS Form 1099-NEC if total payments exceed a specific threshold. For decades, that threshold has been $600 or more in a [...]
Do you want your ex-spouse to get your money when you die? Or how about someone that’s fallen out of your good graces? No matter what your will says, the name(s) on the beneficiary form you signed is written in stone. And if you forgot to name a new beneficiary after a change in family status, somebody is just plain [...]
Here it is, the end of the year, and you may be faced with that pesky government requirement that forces you to take money out of your IRA whether you want to or not. The distribution is considered ordinary income and you pay taxes on that amount at your tax rate. If you don’t, you’ll end up paying an excise [...]
“Hurry, hurry, hurry! There are only a few more saving days until 2025 is over! Don’t miss this opportunity to save tax-deferred dollars and keep the IRS from going deeper into your pocket. Time is running out and come December 31st this opportunity will be GONE, GONE, GONE. So, act now!” Okay, so that may be a little too [...]
When you look back over the previous 12 months, you might be surprised at what may have changed for you, whether in terms of the economy at large, your individual finances, or your personal circumstances. That’s why the end of the year is a great time to reflect and to prepare for the year ahead. Maybe you want to pay off [...]
It’s always a great challenge to find all possible deductions that will make your tax bill as small as possible. This late in the year you may have thrown up your hands and asked, “What else can I do?” But take heart. There are still several strategies available if you are charitably-minded. Appreciated assets If you itemize deductions on [...]
When is the last time you reviewed your Medicare coverage? If it’s been a while, now is a great time to do it. The annual Medicare Open Enrollment window is open and runs through December 7. You can compare plans to make sure you have the best one for your situation. This is the time when you can make any [...]
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