Like all responsible adults, seniors should manage their finances with a budget. It is important for everyone to know just where they stand, how much they owe and what they can afford to spend. If anything, this is more important for seniors than it is for younger people. The National Council on Aging reports that […]
Category Archives: Retirement and Finance
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Oct
Oct
If you are a Medicare patient, you have undoubtedly noticed a recent torrent of ads from Medicare insurance providers. This is an annual event, coinciding with Medicare’s Open Enrollment Period, which runs from October 15 to December 7 of each year. During this period, seniors can easily sign up for a new plan, switch plans […]
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Oct
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Will you have to pay income tax on the Social Security benefits you receive? It depends on many variables. The IRS uses a measurement called “combined income” to determine if you need to pay taxes on any part of your Social Security benefits. Combined income is made up of two parts: 50% of your Social […]
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Oct
Oct
Medicare’s Open Enrollment Period (OEP) runs from October 15 to December 7 of each year. The choices made during that time become effective the following January 1, remaining in effect for the coming year. During the OEP, Medicare patients may make changes that can substantially affect the way they receive and pay for medical care. […]
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| Written by Brett Porter, EA for Winter 2020 Edition of OurSeniors.net Magazine | Every year you hear it. You may even say it yourself. “I can just write it off on my taxes,” but can you really? Most people are completely confused as to whether or not all their tax deductions are even making […]