One of the most important and also most intimidating questions is, “When can I enroll in Medicare Part A and Part B?” This is important because missing your chance to enroll or enrolling at the wrong time can have both immediate and lasting repercussions. It is intimidating because there is no one perfect answer. When to enroll depends on your individual circumstances. Let’s look at the most common enrollment periods, the situations to which they apply, and what can go wrong.

Having a baby can bring the gaps in your financial plan into sharp focus. New parents often feel they need to find ways to provide financial security to their growing families, including buying life insurance. With so many to-dos competing for your attention and money, buying life insurance can fall to the bottom of the list. When you’re ready to put this puzzle piece into place in your financial plan, here are the top things to know as you get started.

J. Russell George, the Treasury Inspector General for Tax Administration (TIGTA), is urging all taxpayers to stay alert to ensure that they do not lose their Economic Impact Payments (EIPs), also called stimulus checks, to thieves and scammers.  

TIGTA is responsible for conducting statutory oversight of issues relating to federal tax administration. As such, it regularly investigates fraudulent activity related to financial distributions of funds, including stimulus checks.

When it comes to retirement investing, many people are in the passenger seat, not behind the wheel. If you’re saving in a 401(k) or 403(b) plan, it’s likely that you’re just along for the ride, but it doesn’t have to be that way. Typically, in retirement plans, your company automatically enrolls you in the plan. Then they start taking money out of your paycheck and saving that money in your name. If you’re fortunate, the company makes a matching contribution as well.

The world has certainly slowed down lately, leaving a lot of business owners either scrambling or strategizing. A few trends are emerging, and if considered, could give your business an edge up.

Paycheck Protection Loan Backlash: How To Defend Your Business Reputation And Avoid Getting Shake Shacked The rules for eligibility also vary by state since each state sets its own guidelines. Typically, however, you qualify if you are unemployed through no fault of your own, and you meet work and wage requirements established by your state. You can review the details of your state's program here . Of course, these numbers just tell half of the story.

One of the proposals for a second stimulus check is a payroll tax waiver.

Art Laffer, a member of President Trump’s economic recovery task force and a distinguished economist, suggested that a payroll tax waiver may be an easy and effective way to generate economic stimulus.

If you think “payroll tax waiver” sounds like something that only benefits businesses, you aren’t alone. I have received emails from readers asking how exactly that helps employees and am here to explain it.

What Is a Payroll Tax Waiver?

Small businesses have been hit hard by mandatory closures and safety measures required to slow the spread of the coronavirus (COVID-19). 

Businesses have a growing number of resources and relief programs to turn to, including many new provisions included the stimulus package enacted by Congress. Many small businesses have so far encountered roadblocks getting federal assistance, but there are other sources of funding to consider, including grants and emergency loans from states, cities and community organizations.

Despite still being secretly free, Windows 10 continues to frustrate (and anger) its users thanks to dodgy updates and concerning recent revelations about transparency. But today Microsoft revealed the future of Windows updates and it’s a massive upgrade. (02/14 new updates below)

If I pass away before her, would my wife receive a higher Social Security's widow's benefit if I wait past my FRA of 66 to collect or are the benefits capped at my FRA. Thanks, James

Hi James, Yes, assuming that your benefit rate is higher than your wife's own benefit rate. If you wait past full retirement age (FRA) to start drawing your Social Security retirement benefits, your wife's widow's benefit rate would be based on your full benefit rate including any delayed retirement credits (DRC)s you earn by waiting. So for example, if you wait until 70 to start drawing your Social Security retirement benefits and you then die prior to your wife, as a widow she would get the higher of a) her own benefit rate or b) your full age 70 rate assuming that she's at least FRA when ...

Who needs long-term care and why?

Maybe, eventually, every one of us will need this care. Consider these statistics. 

• A person turning 65 today has almost a 70% chance of needing some type of long-term care services and support in their remaining years. 
• 20% of those turning 65 will need care for longer than five years. 
• About 35% of people who reach age 65 are expected to enter a nursing home at least once in their lifetime.

We’re all super busy in January, but don’t forget basic tax planning for 2020. At the start of each year, key numbers in many tax-law provisions are adjusted for inflation. While the IRS and Social Security Administration announce these figures in the fall, January is really when you need to pay attention to them. Many of the adjustments are important for employees, their paychecks, and their basic tax planning for 2020.

I write about banking, finance, and consumer issues. Share to facebook Share to linkedin Getty More than 7,000 media workers lost their jobs in 2019 , pushing many of the laid-off reporters and editors into the unstable world of freelance journalism. Building a freelance career comes with some freedom, but with a lot of complexity. Although you may not always think of freelancing in these terms, becoming a freelancer means you’ve put yourself in charge of running your own small business.

Many of the best retirement saving strategies use employer-sponsored retirement plans like a 401(k), or individual plans like an IRA or Roth IRA. These retirement savings vehicles provide credit protections, preferential tax treatment to the investments, and in some cases, sizable tax deductions for contributions. 

For instance, when you save in a 401(k), you can do so pre-tax, and allow for up to $19,000 of salary deferral into the plan in 2019 and $19,500 in 2020. This amount is fully deductible and not included in your taxable income. Additionally, employer contributions to your 401(k) aren’t included in your taxable income. 

I was recently struck by an article written by Mitch Gorochow of the Center for Business Transition at RSM US LLP, the nation’s leading provider of audit, tax and consulting services focused on the middle market. In his piece, Gorochow laid out his case for the top 10 mistakes business owners make when they consider exiting their businesses. It’s worth reading the entirety of the article when you get the chance, but here’s my take on those 10 mistakes Gorochow identifies.

This type of fraudulent call and others like it happen every day. According to AARP, Medicare fraud losses hit $60 billion in 2017 and continue to rise. And Medicare scammers seem to come out of the woodwork around the annual Open Enrollment period, which ends December 7.

If you live in California, you probably know how aggressive California’s state tax agency can be. In fact, even if you live somewhere else, you might have heard of the Golden State’s aggressive tax rules. Buy a vacation home in California, and stay a little too long? Come into the state and do some work for your non-California employer? Travel to California trying to sell some products or collect data that you’ll use out of state when you get back home?

Fall is a time of leaves changing colors, children going back to school, families enjoying Thanksgiving dinners, and… open enrollment. Yes, it’s the opportunity for most employees to select which benefits they will choose for the following year. Here are some of the most common mistakes we see people make: Not fully understanding the value of an HSA-eligible health insurance plan.

Much of the news about health care costs focuses on the assets required to cover health care costs in retirement. HealthView Services 2018 Retirement Healthcare Costs Data Report estimates that a 65-year old couple in good health will need $363,946 to pay for health-care costs for the remainder of their lives, including Medicare and supplemental insurance premiums and out-of-pocket costs. However, people nearing retirement aren’t the only ones concerned with the cost of health care.

Many Americans celebrate their 65thbirthday because that’s the year they become eligible for Medicare. They hope they’ll start paying less for medical insurance premiums, and also they no longer need to worry about being denied insurance for pre-existing conditions. Indeed, these are good reasons to turn 65!

Bruce Chernoff was right when he told the Washington Post that the long-term-care crisis in the United States will be catastrophic. Our aging population and changing demographics mean that we are becoming a nation with substantially more older people in need of care and substantially fewer younger people to provide it. The Washington Post article , while frightening in its content, is a relief in many ways as it means that at last there is a beginning of a consciousness of what our future holds.