Finance and Money Matters
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Finance and Money Matters
All things Money topics including Taxes and Insurance
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13 Tax Tips for Travel Agents and other Small Businesses

13 Tax Tips for Travel Agents and other Small Businesses | Finance and Money Matters | Scoop.it

New tax laws that took effect on Jan. 1 will affect travel agencies and other small businesses. Here are some important tips for filing for 2017 and preparing for 2018.
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Tax Identity Theft Awareness Week starts today

Tax Identity Theft Awareness Week starts today | Finance and Money Matters | Scoop.it
Today is the start of both the FTC’s Tax Identity Theft Awareness Week and the IRS’s tax filing season.
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When Obamacare Open Enrollment Starts

When Obamacare Open Enrollment Starts | Finance and Money Matters | Scoop.it

Open enrollment for health insurance under the Affordable Care Act began on November 1. Here's what consumers should know.

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False IRS Tax Returns -- Personal Or Business -- Can Mean Prison

False IRS Tax Returns -- Personal Or Business -- Can Mean Prison | Finance and Money Matters | Scoop.it
Criminal tax charges can arise out of business tax returns as well as personal ones, even if you don't personally benefit.
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Fifty-five, Unemployed, Faking Normal | Elizabeth White | TEDxVCU

Millions of Boomers are moving into old age with empty pockets and declining choices to earn a living. Right behind them is a younger generation facing the same challenges.

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A serious, heartfelt eye-opener! "Fifty-Five, Unemployed & Faking Normal" #ElizabethWhite ~ #Midlife reality for many. #BabyBoomer ~ #UnemployedBoomers ~ #BoomerLife #Jobless Financial Matters!
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Worth Watching: 55, Unemployed And Faking Normal

Worth Watching: 55, Unemployed And Faking Normal | Finance and Money Matters | Scoop.it

In her TEDx Talk on faking normal, Elizabeth White speaks about boomers' financial and work woes and offers advice on becoming resilient.

White’s TEDx Talk, filmed earlier this year in Richmond, Va., is a composite of her story and her friends’ — women and men in their 50s who are “faking normal.” By that, White’s talking about people who had good careers and lives until they didn’t. She describes them in the TEDx Talk as people who “entered the uncertain world of formerly and used to be.”

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New rules will limit the hurt from medical debt starting Sept. 15

New rules will limit the hurt from medical debt starting Sept. 15 | Finance and Money Matters | Scoop.it
Forgot about that medical bill? Don't stress! You'll have more time to pay up or work out a payment plan before it goes into collections!
Tina Little-Coltrane's insight:
New rules granting consumers some relief from the harm medical debt can do to their credit will finally go into effect Sept 15th!
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10 Best Jobs for Adults with High-functioning Autism or Asperger’s Syndrome

10 Best Jobs for Adults with High-functioning Autism or Asperger’s Syndrome | Finance and Money Matters | Scoop.it

While choosing any job, one should focus on his/her strengths and interests and choose the job accordingly. For persons with high-functioning Autism or Asperger’s, it is often hard to function in a workplace full of social interactions and regular chit-chats. For them this can be excruciating and what to say about attending long meetings?!.... In addition to great long-term memory, people with Asperger’s or high-functioning Autism have incredible attention to detail which makes them best at jobs which require this skill.

 
Tina Little-Coltrane's insight:
Job Recruiters, Hiring Managers, and Employment Acquisition teams, please know this: "In addition to great long-term memory, people with Asperger’s or high-functioning Autism have incredible attention to detail which makes them best at jobs which require this skill."
 
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Cash-Strapped Seniors Turn To Assisted Living Centers In Mexico

Cash-Strapped Seniors Turn To Assisted Living Centers In Mexico | Finance and Money Matters | Scoop.it

People are living longer, which means they need their retirement savings to stretch further than before. Some retirees are choosing an unusual option to make their money last longer. They are moving to assisted living centers in Mexico. From member station KPBS in San Diego 

Copyright 2017 NPR. To see more, visit http://www.npr.org/. ROBERT SIEGEL, HOST: People are living longer, which means they need their retirement savings

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Older Workers Remain in the Workforce Longer - AARP

Older Workers Remain in the Workforce Longer - AARP | Finance and Money Matters | Scoop.it
Employment for seniors remains steady with 39.9% of older workers are searching for jobs. Older workers are retiring later to save more for 401(k)s.
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Why Employers Are Starting to Rethink Older Worker Stereotypes

Why Employers Are Starting to Rethink Older Worker Stereotypes | Finance and Money Matters | Scoop.it
Some firms are progressive, others are dealing with urgent skills shortages
Tina Little-Coltrane's insight:
As they should!! Boomers like myself bring a lot of experience, knowledge and maturity to the table.
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Aging in Place: 5 Things You Have to Do to Retire in Your Own Home

Aging in Place: 5 Things You Have to Do to Retire in Your Own Home | Finance and Money Matters | Scoop.it

Some people dream of moving to an exotic location such as Panama or Belize in their golden years, but the majority of Americans end up retiring in their own homes. Three out of five current retirees have remained in their homes, according to a survey last year from TransAmerica Center for Retirement Studies, and almost the same proportion of workers over 50 expect to stay put when they retire.

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Understanding Costs of CCRC

Similar to assisted living, Continuing Care Retirement Communities or CCRC’s are usually non-profit, government-assisted communities that allow senior residents the benefits of living in a stress-free environment. Because CCRC costs are not subject to outside regulation, there can be a lot of variation between continuing care retirement communities (CCRCs). A number of factors influence CCRC costs, and understanding these factors can help you determine what you’ll be paying for if you move into a CCRC.

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IRS Forms 1099 Impact Your Taxes, But Don't Ask For Missing 1099s

IRS Forms 1099 Impact Your Taxes, But Don't Ask For Missing 1099s | Finance and Money Matters | Scoop.it
IRS Forms 1099 tell the IRS about payments you received in 2017. Pay attention to each one.
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IRS Requires Proof of Health Insurance in 2018

IRS Requires Proof of Health Insurance in 2018 | Finance and Money Matters | Scoop.it
Internal Revenue Service won’t process 2018 individual tax returns unless taxpayers indicate if they have health insurance coverage or an exemption.
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‘Pay with Google’ arrives to speed up checkout

‘Pay with Google’ arrives to speed up checkout | Finance and Money Matters | Scoop.it

The Google Payment API that enables the improved checkout process was rolled out to developers worldwide at Google I/O in May. Google says it doesn’t charge any transaction fee for its use and requires “only a few lines of code” to implement.

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Working with autism: ‘We need people who dare to think differently'

Working with autism: ‘We need people who dare to think differently' | Finance and Money Matters | Scoop.it
Neurodiversity can be a huge advantage for companies, yet people on the spectrum have often been marginalised. Now some firms are specifically seeking them out. Is this a crucial turning point?
Tina Little-Coltrane's insight:
'In the right role and with the right support, an autistic person will significantly outperform a neurotypical person'....
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Are you hanging off a financial cliff? Here's how to cope

Are you hanging off a financial cliff? Here's how to cope | Finance and Money Matters | Scoop.it
Elizabeth White was once comfortably middle class, but recently she has been severely underemployed. Now as she approaches the traditional age for retirement, she is struggling to make ends meet, and her story is not uncommon. Economics correspondent Paul Solman brings us part two of their conversation with advice for the financially fragile.
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Google.org is launching a $50 million effort to prepare job seekers for the ‘future of work’

Google.org is launching a $50 million effort to prepare job seekers for the ‘future of work’ | Finance and Money Matters | Scoop.it

"The company’s philanthropic arm will study changes in the economy wrought by companies like, well, Google.....

To start, some of the new money is heading to groups like Code for America, as Google.org looks to “support organizations who are driving innovative approaches to connecting job seekers and employers,”

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10 Companies that Hire Adults with High-functioning Autism or Asperger’s

10 Companies that Hire Adults with High-functioning Autism or Asperger’s | Finance and Money Matters | Scoop.it
If you are looking for a job but are not sure which companies hire adults with high functioning autism or Asperger's this list of 10 companies tha
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Plan now for independent living as you age

Plan now for independent living as you age | Finance and Money Matters | Scoop.it
Each stage in life requires a plan. Think back over your plans to attend college, earn a degree, establish a career, start a family, and eventually retire.
Tina Little-Coltrane's insight:
"For our aging population, all expecting to live a full life well into their twilight years, senior living options are becoming increasingly important. According to The Alliance for Aging Research, the number of seniors, aged 65 and older, is expected to triple by 2050, with 10,000 baby boomers turning 65 every day until 2030."
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Unemployed, 55, and Faking Normal

Unemployed, 55, and Faking Normal | Finance and Money Matters | Scoop.it
You may recognize these women hiding in plain sight, trying to keep up with friends and still pay the bills.
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10 Things To Know About IRS Forms 1099 At Tax Time

10 Things To Know About IRS Forms 1099 At Tax Time | Finance and Money Matters | Scoop.it
IRS Forms 1099 are arriving, so be careful with this most important of tax forms. Each one counts and the IRS matches them to your tax return.
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3 Facts To Consider Before Filing For Social Security - After Fifty Living

3 Facts To Consider Before Filing For Social Security - After Fifty Living | Finance and Money Matters | Scoop.it
The baby boomer generation spans from working individuals in their 50s to those who are fully retired, however not all baby boomers have substantial retirement savings at their disposal. This leaves social security a critically important source of income for millions of individuals set to retire over the next couple of decades. Here is an easy to understand guide on how Social Security will work for you and how much income you'll get. The following information will help you understand your needs in the future of your retirement. Retirement Age Increase As it stands, at the age of 62 you become eligible for Social Security benefits at a reduction to your full benefit. Age 66 is currently considered full retirement age to receive your maximum benefits. Starting in 2020, any individual born in 1955 will reach full retirement age at 66 years, two months. For those born in 1956, they'll have to wait another two months, to 66 years, four months. This two-month increase will continue until people born in 1960 or later reach the new full retirement age of 67 in 2027. As an example: someone born in 1954 would have turned 62 in 2016, thus eligible for social security at a reduced rate. Since their full retirement age is 66, they would receive 75% of their full benefit if they retired at age 62. However someone born in 1958, for instance, would have a full retirement age of 66 years, eight months. But if that person retired at 62, they would only get 71.7% of their full benefit. If you live to age 80, this is about $7,100 less on a $1,000-per-month benefit, not including cost-of-living adjustments. Spousal Benefits A spouse can plan to retire on their own work record or on yours, however the rules still apply when it comes to full retirement age and their benefits. If your spouse is younger than you, it may be necessary for them to continue to work or to delay filing for Social Security. The retirement age is an important fact to consider if your spouse will file on your work record, and is likely to outlive you. Here's what the Social Security Administration says about the survivor's benefit and how it could be lower if you retire before full retirement age. "If your spouse started receiving retirement benefits before their full retirement age, we cannot pay you the full retirement age benefit amount from their record. The maximum survivors benefit is limited to what they would receive if they were still alive." the SS administration reports. Your Health & Life Expectancy Matter Social Security is structured to provide flexibility,so you can take benefits as early as age 62 or as late as age 70. While the monthly benefit is significantly lower if you file early and much higher if you delay, the total dollars paid to someone who lives the average lifespan isn't vastly different unless you raise a significant chance of either living much longer than average or dying younger. Here's a table that breaks down where you would maximize your total benefit, based on filing age and age of death: The facts above are largely about the financial impact of when you take Social Security. And while the financial part should play a primary role in when you file, it's not the only thing that matters. We must each also consider what kind of retirement we want, the value of other retirement assets and what we want to do with the time we have before we die.
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18 Questions to Ask Yourself Before You Retire

18 Questions to Ask Yourself Before You Retire | Finance and Money Matters | Scoop.it

Giving thought to these considerations will keep you from feeling adrift after you retire.

After you retire, your daily life will change in more ways than you probably imagine. Developing a clear picture of how you want to live your life after you retire will help you make better plans and adapt more easily to the changes retirement brings. You need to decide what your retirement will be like and come up with specific things to look forward to.

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