For Americans planning on retiring in the next few years, changes to claiming options made through The Bipartisan Budget Act of 2015, which goes into effect May 1, 2016, may make retirement no longer feasible. With false pretenses to save the government money, the changes put into play by the budget act will cost retirees between $20,000 to $100,000 over their lifetime. This may lead to further strain on state economies as retirees seek financial assistance to counteract the deficit in their projected social security wages, versus what they will be able to actually receive. This article, written by Pam Hopman, was published as a featured article in the future section by Slant on February 19, 2016, and can be read in its entirety by clicking here.
Estimated Taxes Do you pay estimated taxes? If you are supposed to pay estimated taxes and you don’t, there can