Social Security
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The New Look in Identity Theft
Identity theft still is the fastest-growing crime in the nation. But the crime is changing as individuals and authorities become more aware of the problem. The good news is that victims are discovering ID theft crimes faster. The bad news is that the effects are more costly and longer-lasting. The crime now is discovered within […]
Should You Empty Your IRA Early?
Every general rule has its exceptions. IRAs are no different. The general rule for IRAs is to leave investments in them as long as possible. Your wealth will increase if income and gains are allowed to compound tax deferred as long as possible. We demonstrated that in the September 2003 discussion of which retirement accounts […]
Six Kinds of Estate Planning Family Documents and Forms to Secure
Some documents are so important that they, or copies, should be stored securely. I don’t recommend a safe deposit box, for reasons explained in my June 2002 visit, which is available in the web site Archive. Consider a fireproof container or keeping copies at both the home and the office. The Federal Emergency Management Agency […]
How To Value Social Security
Your portfolio is more conservative than you think. Most people don’t consider Social Security and other pensions and annuities when considering their investment portfolios. Even most financial planners and other investment professionals do not include Social Security and other pensions when allocating a portfolio. A pension such as Social Security has many of the characteristics […]
Best Way To Stop ID Theft
Identity theft cases doubled from 2001 to 2002. A report from the Federal Trade Commission revealed that ID theft complaints to the government rose from 86,000 to 162,000, and for the third year ID theft was the most reported type of fraud. The government believes most thefts go unreported and that about 700,000 ID thefts […]
How to Reduce Tax on Social Security
Each year more seniors pay taxes on Social Security benefits than did the year before, and those who already were taxed pay more. That is an inevitable result of the way the tax is structured, unless you take action to reverse things. The benefits are taxable when adjusted gross income exceeds certain levels. One big […]
Most Overlooked Deducations
Many taxpayers don’t take all the deductions to which they are entitled. Some think all the good deductions were eliminated in the Tax Reform Act of 1986. Others are afraid that the IRS will audit them for taking certain deductions. A lack of good records is the problem for a number of taxpayers. For most […]
Protecting Against ID Theft
Identity theft will be the crime of the millennium. It dominated the news recently when three credit card company employees were arrested for selling the data of 30,000 customers for $100 each. Fraud is perhaps the most common crime, and ID theft is another form of fraud. ID theft is growing rapidly, however, and soon […]
