Finance and Money Matters
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Half of American Baby Boomers Face a Frightening Retirement Reality: But There's Worse News Incoming -- The Motley Fool

Half of American Baby Boomers Face a Frightening Retirement Reality: But There's Worse News Incoming --  The Motley Fool | Finance and Money Matters | Scoop.it
Low retirement savings is bad. But this is worse.
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Should I Divorce to Get More Social Security Benefits?

Should I Divorce to Get More Social Security Benefits? | Finance and Money Matters | Scoop.it
Sorting out the rules for getting more Social Security benefits if you're in a second marriage.
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Next Career Act, Life Reimagined, for Boomers - AARP

Next Career Act, Life Reimagined, for Boomers - AARP | Finance and Money Matters | Scoop.it
A career change for these boomers came about with employers’ help, transition opportunities and a life reimagined.
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What retirement? 70% will work as long as they can

What retirement? 70% will work as long as they can | Finance and Money Matters | Scoop.it
Being retired in her early 60s was never part of Kitty Felde's plans. RATE SEARCH: Need an IRA to stash retirement cash? Felde, 62, is not alone in extending her working career, as our society's definition of retirement continues to change.
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I'll probably be one of that 70% who will work until I can't do it anymore! Can't imagine sitting home, growing older & stiffer looking for something to do every day.
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Arianna Huffington steps down from HuffPo

Arianna Huffington steps down from HuffPo | Finance and Money Matters | Scoop.it
Arianna Huffington is stepping down from the website she co-founded a decade ago, The Huffington Post.
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New laws that will affect Social Security benefits in 2016 | Clark Howard

New laws that will affect Social Security benefits in 2016 | Clark Howard | Finance and Money Matters | Scoop.it

Whether you are retiring now or 10 years from now, you need to be aware of these important changes to Social Security because it could impact your retirement planning. These changes include the phase out of filing strategies referred to as “unintended loopholes” -- known as file-and-suspend and the restricted application for spousal benefits -- created previously by Congress back in 2000.

 

If you do not turn age 62 by the end of 2015 these new Social Security rules will apply to you. The ability for your spouse to file a restricted application (filing and collecting a spousal benefit only) if you choose to suspend your benefit will not be available. In other words, your spouse can not collect their “spousal benefit” unless you are collecting your benefit.

From our understanding of the new provisions, once you reach your full retirement age, the option to collect a retroactive lump sum will not be available to you.  This applies to anyone who has still not reached age 66 by April 30, 2016.

 

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Darn It! @*&%, I forgot to write my Miles down!

Darn It! @*&%, I forgot to write my Miles down! | Finance and Money Matters | Scoop.it
Do you ever have the same problem? You get where you are going and forget to track the mileage or go a whole day that and realize you missed writing it down?  As a business owner, it's super important
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IRS Forms 1099 Are Coming, The Most Important Tax Form Of All - Forbes

IRS Forms 1099 Are Coming, The Most Important Tax Form Of All - Forbes | Finance and Money Matters | Scoop.it
Missteps with IRS Form 1099 can mean a guaranteed IRS audit, so know these key rules before you even think about filing your taxes.
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Most Outrageous Tax Deductions of 2016

Most Outrageous Tax Deductions of 2016 | Finance and Money Matters | Scoop.it
The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. The resulting list shows that, more often than not, clients just don t know which deductions are allowed.
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IRS Announces Tax Filing Season Start Date – 19 January 2016

IRS Announces Tax Filing Season Start Date – 19 January 2016 | Finance and Money Matters | Scoop.it
The Internal Revenue Service (IRS) has announced that Tax Filing Season for 2016. It will start from 19 January for both paper and software filing.
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Thousands Hit With Surprise Tax Bill on Income in IRAs

Thousands Hit With Surprise Tax Bill on Income in IRAs | Finance and Money Matters | Scoop.it
Thousands of investors holding master limited partnerships in IRAs may owe taxes that they aren’t aware of.
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When Does a Senior Citizen on Social Security Stop Filing Taxes? - TurboTax Tax Tips & Videos

The IRS requires you to file a tax return when your gross income exceeds the sum of the standard deduction for your filing status plus one exemption amount. These filing rules still apply to senior citizens who are living on Social Security benefits. If you are a senior, however, you don't count your Social Security income as gross income. If Social Security is your sole source of income, then you don't need to file a tax return.
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Anthony Anderson is the 2015 Life Insurance Awareness Month Spokesperson | Life Happens

Anthony Anderson is the 2015 Life Insurance Awareness Month Spokesperson | Life Happens | Finance and Money Matters | Scoop.it
You may know Anthony Anderson from his hit TV show Black-ish and as host of Eating America. But this September he’ll be taking on a new role as the 2015 national spokesperson for Life Insurance Awareness Month. The annual campaign, which takes place in September, is coordinated by Life Happens to encourage the more than 100 million Americans who do not have adequate life insurance to get the coverage they need. As spokesperson for the campaign, Anthony will share his personal story of how he and his family were directly impacted life insurance. As a young boy growing up in Compton, Calif., Anderson saw the importance his family placed on life insurance. While his parents didn’t have much, they did have Mary—or as Anthony’s family called her, ‘The Insurance Lady.’ Mary was a fixture in the Anderson home, visiting the family throughout the year to review and update his parents’ life insurance policies. She even sold Anthony his first life insurance policy when he turned 18. Now, a
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Social Security Mailbox: The IRS and Social Security - AARP

Social Security Mailbox: The IRS and Social Security - AARP | Finance and Money Matters | Scoop.it
Can the IRS take money from your Social Security? Maybe — it depends on your other income.
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Recareering

Recareering | Finance and Money Matters | Scoop.it
A late-in-life career change. Recareering is not just a job change, but a move to a completely different career path. Money, power and prestige are prime motivators for many people switching careers, but others do it to pursue a passion or make a lifestyle change.
Tina Little-Coltrane's insight:
Encore Career Seeker!
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Women in Business — Shirley Meadows

Women in Business — Shirley Meadows | Finance and Money Matters | Scoop.it
Shirley Meadows has been the Property Manager for The Oaks and Silver Lake Retirement Communities for nearly 21 years. During her reign as manager, she has been a tireless advocate of senior citizens in need.
Tina Little-Coltrane's insight:
My #BoomerLife & #SeniorCare Career goals! Property Management up next!
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Tax Credits for Ramps, Grab Bars to Help Seniors Stay at Home

Tax Credits for Ramps, Grab Bars to Help Seniors Stay at Home | Finance and Money Matters | Scoop.it
Tax credits would help seniors pay for building modifications that would allow them to live at home longer.
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6 Unexpected Retirement Expenses You Need to Plan For

6 Unexpected Retirement Expenses You Need to Plan For | Finance and Money Matters | Scoop.it
Make sure to factor in these potential expenses so your retirement doesn't go off the rails.
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Top Five Unhelpful Myths about Retirement for Baby Boomers | Seniors Matter

Top Five Unhelpful Myths about Retirement for Baby Boomers | Seniors Matter | Finance and Money Matters | Scoop.it

Baby Boomers constitute a veritable tsunami of retirees, with the potential to flood health care systems, up-end public policy, overwhelm Social Security, and tax the nation’s Medicare and other services as no previous generation has.

The most pressing concern for Baby Boomers and for those who care for and about them, is their vast potential to outlive their money. To get a handle on Baby Boomers’ retirement outlook, we present some common but unhelpful myths. Then we will look at some potentially helpful remedial steps.

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The Mileage Conundrum – Why Mileage Deductions are Vulnerable to IRS audits | Winspear Law, PLLC

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Clark Howard: Don't Burden Your Kids! Find out about Long Term Care Insurance

Clark Howard: Don't Burden Your Kids! Find out about Long Term Care Insurance | Finance and Money Matters | Scoop.it
Clark Howard on Long Term Care Insurance.

Steve and Sonja want to know about long-term care insurance for their future. HLN Money Expert Clark Howard steps in. “You want inflation protection in the policy.

In many states there are special policies you can buy that are very affordable that if you buy one the state is your partner in paying for a stay in long term care.
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Even Insured Can Face Crushing Medical Debt, Study Finds

Even Insured Can Face Crushing Medical Debt, Study Finds | Finance and Money Matters | Scoop.it
A major survey of Americans struggling with medical bills finds that, even among the insured, illness and injury can reshape a family’s financial health.
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IRS customer service will get even worse this tax filing season, tax chief warns

IRS customer service will get even worse this tax filing season, tax chief warns | Finance and Money Matters | Scoop.it
Reducing customer hang-ups with a system that calls people back would cost too much, the commissioner said.
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5 Year-End Tricks to Boost Your Tax Refund -- The Motley Fool

5 Year-End Tricks to Boost Your Tax Refund --  The Motley Fool | Finance and Money Matters | Scoop.it
If you do some of these things now, it could mean more money in your pocket when tax time arrives.
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The mysterious 21% plunge in GE's stock

The mysterious 21% plunge in GE's stock | Finance and Money Matters | Scoop.it
On Monday shares of GE mysteriously suffered their biggest decline since Black Monday of 1987
General Electric shares mysteriously plummeted 21% on Monday in the midst of the unprecedented 1,089-point plunge on the Dow.

It was a stunning moment for GE (GE), one of America's most iconic companies. An astonishing $53 billion of its value vanish in mere seconds -- before rapidly recovering nearly....

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