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Maximum social security tax 2017

Social Security checks to rise in January

December 27, 2018 foxbusiness Leave a Comment

By Brittany De Lea Published December 27, 2018 Personal Finance FOXBusiness Facebook Twitter Comments Print video Social Security is one of the biggest frauds going: David Asman “Bulls & Bears” panel discuss FBN host David Asman’s op-ed “Social Security’s ultimate insult” and the problems surrounding the entitlement program. Retirees are set to see the biggest increase in their monthly Social Security checks in seven years. Continue Reading Below The Social Security Administration’s cost-of-living adjustment for the coming year is 2.8 percent, which will boost the average beneficiary’s check by about $39 per month (or $468 per year). The increase is the largest since 2012. It will raise the current maximum benefit collected by someone who retires at full retirement age – age 66 for people born in 1943 through 1954 – by about $73 per month. About 67 million Social Security and … [Read more...] about Social Security checks to rise in January

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How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity

August 21, 2018 mysanantonio Leave a Comment

Move now to evaluate your filing options as: 1) a self-employed individual; 2) an S Corp; 3) a C Corp; or 4) an LLC Tom Wheelwright Published 12:00 pm CDT, Tuesday, August 21, 2018 Photo: Alfexe | Getty Images Image 1of/1 CaptionClose Image 1 of 1 Photo: Alfexe | Getty Images How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity 1 / 1 Back to Gallery If you’re confused about what type of business entity to set up -- entrepreneur or contractor -- under the new Tax Cuts & Jobs Act of 2017, you’re not alone. Related: How to Pay Zero Taxes Legally in Retirement Whether you’re an Uber driver, tech startup founder or medical professional contractor, you'll find that the new tax law will significantly impact your 2018 returns. So, don’t … [Read more...] about How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity

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Social Security: What to know, what to expect, how to make it better

July 19, 2018 foxbusiness Leave a Comment

By Alessandra Malito Published July 19, 2018 Personal Finance MarketWatch Facebook Twitter Comments Print article ( iStock ) Social Security is not going anywhere, but millennials shouldn’t count on 100% of their benefits and legislators really need to pay attention to the program, experts said. Continue Reading Below The program’s trustees said its two trust funds will be depleted in 2034, according to a June report, though that doesn’t mean Americans will stop receiving benefits. Simply put, it means the program will rely on tax income to provide its benefits as opposed to the money in those trust funds, and that benefactors will receive three-quarters of the benefits they were to be owed. “I view Social Security as the backbone of the nation’s retirement system,” said Alicia Munnell, director of the Center for Retirement Research at Boston College. “We have known for decades that it has a … [Read more...] about Social Security: What to know, what to expect, how to make it better

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22 Social Security Stats That Will Blow You Away

July 8, 2018 foxbusiness Leave a Comment

Published July 08, 2018 Markets Motley Fool Facebook Twitter Comments Print Social Security has been around since 1935 and it provides income to around 63 million Americans, 42.5 million of whom are receiving retirement benefits. The program is largely credited with keeping generations of seniors out of poverty -- but while millions of Americans rely on Social Security to provide at least half their income, most of us don't really understand much about the program. Continue Reading Below To give you a little more insight into Social Security, check out these 22 stats -- many of which are likely to shock you. Americans don't have much confidence in Social Security The majority of Americans have serious doubts about the future of Social Security, even though the program receives broad support and will be able to pay out most benefits for the foreseeable future -- even if no changes are made. 75% of Americans believe Social Security won't be available … [Read more...] about 22 Social Security Stats That Will Blow You Away

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The Flaw in Democrats’ and Republicans’ Primary Fixes for Social Security

May 11, 2018 foxbusiness Leave a Comment

Published May 11, 2018 Markets Motley Fool Facebook Twitter Comments Print Few, if any, social programs bear the same importance as Social Security to the American public. Each and every month, some 62 million people receives a benefit from the program, 42.8 million of whom are retired workers. Of these retirees, more than three out of five are dependent on their monthly payout from Social Security to account for at least half of their income. In other words, senior poverty rates would probably skyrocket without the guaranteed monthly benefit that Social Security provides eligible retired workers. But there's a problem with America's leading social program: The current payout schedule isn't sustainable. Continue Reading Below What's wrong with Social Security? According to the Social Security Board of Trustees' 2017 report, released last summer, the program will undergo a major shift in 2022 that'll see it pay out more in benefits than it's generating … [Read more...] about The Flaw in Democrats’ and Republicans’ Primary Fixes for Social Security

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