The Social Security Administration (SSA) has officially released its annual cost-of-living adjustment (COLA) figures for 2025. These newly issued numbers will have an impact on monthly Social Security benefits payouts for retirees, as well as recipients of Social Security disability benefits and survivor benefits, over the forthcoming year. The COLA Change From 2024 to 2025
Amazingly, many people are unaware of a potentially massive income tax deduction that has been available since 1996. The entire cost – 100% - of home health care or care at an assisted living facility can potentially be deducted. For seniors who rely upon their IRA, 401(k) or other qualified retirement plan to cover their
The Internal Revenue Service (IRS) has released its tax inflation adjustment figures for tax year 2025. Annual Gift Tax Exclusion Effective January 1, 2025, you will be able to make individual gifts of up to $19,000 in the calendar year (an increase from $18,000 in 2024) tax-free. In other words, giving more than $19,000 to
