This is a reminder, with a few days left in the year, to make sure you take advantage of your retirement contributions. In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response…
Across the country, demographics and cultures are evolving. As the baby boomer generation continues to age, the way states set their budgets and health care policies must adapt. The focus will be on the needs of people under 50 with changing…
After spending decades working hard, saving money, and planning, most people look forward to retirement. Once retired you may feel tempted to cut loose a bit and forget about tax planning, but one of the keys to a successful retirement…
If you are wondering about the future of Social Security, you are not alone. Many of us can surmise that Social Security may see its shortfalls and challenges eventually, but what is the actual prognosis? The Federal government contends that,…
Vincent J. Russo joined Hilary Topper to address common questions from her community on her New York Lifestyle Bog. Vincent addressed topics such as; What documents should you have in place if you have an elderly parent?, What is the…
Have You Heard Of The Secure Act? Find Out How It Affects Your Ira! Vincent J. Russo joined Hilary Topper on her talk show, Hilary Topper on Air. During this podcast, Vincent shared the pros and cons of the new…
What is the IRA Charitable Rollover and how does it work? The Individual Retirement Account (“IRA”) Charitable Rollover is a “Qualified Charitable Distribution” which allows the IRA owner, who is 70 ½ or older, to make tax free gifts of…
Couples in their 60s may be found discussing upcoming vacations, their children and potential home improvements. However, there is one vital subject that is often ignored: their future retirement. Failing to discuss important details of retirement such as, where and…
No matter how much we try to focus on taking things day by day, the uncertainty of the future always seems to linger in the back of our minds. We worry about things like:
This update provides new information for 2016 Social Security taxes and benefits. SSI for NYS Residents: Individual Couple $820/month $1,204/month Maximum Earnings Taxable Social Security (OASDI) $118,500/year Quarter of Coverage Earnings Required $1,260/quarter Social Security Disability Threshold Substantial Gainful…