Year of Birth* Full Retirement Age 1937 or earlier 65 1938 65 and 2 months 1939 65 and 4 months 1940 65 and 6 months 1941 65 and 8 months 1942 65 and 10 months 1943–1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 […]
Read More… from Full Retirement Age FRE re:Social Security benefits
HEIR HAZARDS when INHERITING an IRA RMD (Required Minimum Distribtutions) are required when the owner turns 70 1/2 years old. NON-SPOUSE beneficiaries can ‘stretch’ the regular inherited IRA over their own life expentancy but must start the RMD the year following the death of the owner. While ROTH IRA owners never are required to distribute RMD, NON-SPOUSE beneficiaries must. Those withdrawls are […]
If you turn 66 in 2014 you will not lose any social security benefits if you earn (W2, self employed, working partner) $41,400 or less before reaching age 66. Individuals 62 to 66 by the end of 2014 can earn up t $15,480 before a redution in beneficts. There is NO EARNINGS CAP once you are 66. […]
2013 HSA (Heath Savings Account) Contribution Limits Self only plan Family plan Under age 55 $3,250 $6,450 Age 55 or over $4,250 $7,450 Age 65 or over (1) n/a n/a (1 (1) This does not mean you cannot contribute during the year. The calculation is done on a monthly basis. You can contribute until you […]
if you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, there is […]
Read More… from Social Security in 2013 – How Much can I earn without reducing SSoc Pmt
Social Security If you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, […]
Read More… from Social Security in 2012 – How much can I earn without reducing SSoc Pmt
Social Security benefits to go up 3.6% in 2012 Social Security payments will rise 3.6% in January, the first cost-of-living adjustment in three years. However, an expected increase in Medicare Part B premiums is expected to cancel out at least some of the COLA. CNNMoney.com […]
Download Form SSA-4004 – to obtain Earnings History (you create an account.. easy to do) […]
How Long Do I Keep Records Our standard answers… 3 years is the Statute of Limitations for audit purposes (from the due date of the return or the filing, whichever is later). 4 years for Employee Records 6 years if there is a 25% understatement of income (accidental, misinterpretation of tax law, bookkeeping error, involved in one […]
