biasiteadmin has written 13 posts for The Austrian School of Investment Thought

Should You Apply for Social Security Now or Later?

  When should you apply for benefits? Consider a few factors first. Now or later? When it comes to the question of Social Security income, the choice looms large. Should you apply now to get earlier payments? Or wait for a few years to get larger checks?   Consider what you know (and don’t know). You … Continue reading

When Is Social Security Income Taxable?

     The answer depends on your income   Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility. Seniors have had to contend with this possibility since 1984. Social Security benefits became taxable above certain yearly income thresholds in that … Continue reading

Financial Considerations for a Second Marriage

  Some of us will marry again in retirement. How many of us will thoroughly understand the financial implications that may come with tying the knot later in life.                       Many baby boomers and seniors will consider financial factors as they enter into marriage, but that … Continue reading

Explaining the Basis of Inherited Real Estate: What is cost basis? Stepped-up basis? How does home sale tax exclusion work?

  At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and what kind of tax break … Continue reading

College Funding Options

  How can you cover your child’s future college costs? Saving early (and often) may be the key for most families. Here are some college savings vehicles to consider. 529 plans. Offered by states and some educational institutions, these plans let you save up to $14,000 per year for your child’s college costs without having … Continue reading

Retirement Insight: Bankrate’s Best and Worst States for Retirement

WHAT ARE THE BEST (AND WORST) STATES FOR RETIREMENT?Every year, consumer finacial services website Bankrate.com tries to determine them througha survey of financial, health, and lifestyle factors. Its 2016 survey conveys a distinct message: for a nice retirement, avoid coasts and head west. For the second straight year, Wyoming ranked as the best state in … Continue reading

White House Proposes Changes to Retirement Plans: A look at some of the ideas contained in the 2017 federal budget.

 Will workplace retirement plans be altered in the near future? The White House will propose some changes to these plans in the 2017 federal budget, with the goal of making such programs more accessible. Here are some of the envisioned changes. Pooled employer-sponsored retirement programs. This concept could save small businesses money. Current laws permit … Continue reading

2016 Tax Law Guide

A GUIDE TO 2016 TAX LAW CHANGES (AND MORE) As late as December, 2016 was shaping up to be a fairly uneventful year for federal tax law changes …   Then Congress passed the Protecting Americans from Tax Hikes Act (PATH). When PATH became law late last year, a host of expiring federal tax provisions … Continue reading

Medicare Changes for 2016

Every year brings little changes to Medicare, and 2016 is no different. Here is a handy summary of the changes this year. Part B premiums will rise 16% for some Medicare beneficiaries, 0% for others. Since the federal government’s Consumer Price Index failed to advance on a year-over-year basis across most of 2015, no Social … Continue reading

2016 Retirement Plan Contribution Limits

Over the past 12 months, consumer prices have increased very little. The latest Consumer Price Index (September) shows 0.0% yearly inflation and only 1.9% core yearly inflation. That means no cost-of-living adjustment for Social Security, and very few IRS adjustments to retirement plan contribution limits.1 Roth IRA & traditional IRA contribution limits stay the same … Continue reading

Weekly Economic Update

 December 21, 2015 TIGHTENING BEGINS As anticipated, the Federal Reserve raised the benchmark in terest rate by 0.25% last weekThe Federal Open Market Committee voted 10-0 to make the move. Its latest dot-plot forecast projects four rate hikes during 2016, which would put the federal funds rate above 1% by the end of next year. The Fed … Continue reading

Social Security: The End of File and Suspend for Married Couples

Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers approved a two-year federal budget deal. As part of that agreement, they authorized the most significant change to Social Security policy seen in this century, disallowing two popular strategies people have used to try and maximize retirement benefits.1 The file-and-suspend claiming … Continue reading

Weekly Economic Update

  December 14, 2015 HOW LOW WILL OIL FUTURES GO? Did they hit bottom Friday afternoon, when WTI crude settled at $35.62 on the NYMEX? Maybe not, given the International Energy Agency’s new advisory that the oil glut may grow larger in 2016. Even Brent crude, the global benchmark, closed at $37.94 at the end … Continue reading

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