Radio: Social Security Payroll Tax Cuts
David Marotta discusses what to do with your “extra” money.
David Marotta discusses what to do with your “extra” money.
Take ownership of your own financial security and increase the rate you are saving and investing by at least the 2% Social Security tax cut.
Future earnings and the potential for Roth IRA conversions should be part of your plan.
Healthy spouses with little earnings should encourage their partners to delay filing.
Filing early and then repaying is the least dangerous for those who are single or for a husband and wife whose benefits are roughly equal.
Dying young never jeopardizes a retirement plan financially.
Filing early exacts a steep price.
Your filing option choices may be worth $250,000 of income or more.
Privatization eliminates benefits for those who can do better with 5% of their payroll taxes than the government does with the entire 12.4%.
All this toil to maintain an average benefit of about $12,000 a year!
David Marotta discusses how Social Security could offer more benefit for less cost.
Waiting for the higher payout is like buying longevity insurance.
The argument that workers might make mistakes is strange in light of the gross errors made by the government itself.
It is a tragic irony that the goals of collectivism are best achieved by respecting individual liberties.
The incentives that produce wealth also produce inequity. Valuing equality above all else destroys the real wealth they are trying to redistribute.
The wealth gap between blacks and whites widens each generation as a direct result of Social Security.
We are living too long and we don’t have as many children as we used to.
We can have our benefits and lower taxes if we are willing to admit that socializing retirement benefits was a mistake and we return to trusting once again, the in power of free markets.
The major mistake was in not indexing the age of retirement to life expectancy.
On Tuesday, February 11, 2020, David John Marotta appeared on Radio 1070 WINA’s Schilling Show to take a closer look at the calls for free college education in the socialist utopia.
The space of disagreement between tolerance and intolerance is often lost in the socialist perspective.
The increasing monoculture within universities pushes, at least slightly, each graduating class more toward favoring socialism.
Our first step is not “closing our eyes and imaging it.” We need our eyes wide open analyzing each idea for its own individual costs and benefits.
One common socialist assumption is that government collectivism is so essential for success that there is no such thing as self-sufficiency.
Edward Bellamy’s novel “Looking Backward” moved hearts and minds, ultimately moving nations and history.
The appeal to the Nordic countries from socialists is a false one. Iceland, Denmark, Sweden, Finland, and Norway are examples of market economies, not socialism.
What happens to my Facebook, Twitter, Wordpress, and other online accounts when I die? Could I decide?
Here is one way not to argue against Libertarianism.
Great financial wealth can be built by living a beer and chips lifestyle on a champagne and caviar budget!
If the form is accepted, the Social Security Administration will generally not only change your current IRMAA, but they will also use your Projected MAGI for the next several years. Here’s why.
If the form is accepted, the Social Security Administration will generally not only change your current IRMAA, but they will also use your Projected MAGI for the next several years. Here’s why.
Depending on your particular case and Social Security agent, you may get your surcharge waived, lowered, or upheld.
Depending on your particular case and Social Security agent, you may get your surcharge waived, lowered, or upheld.
Without a doubt, the best single annuity option for any client – that is, the option that creates the higher monthly cash payment – is to delay Social Security.
When a woman gets married she often changes her name. Once you’ve changed your name at the Social Security Administration, the DMV, your employer and employer benefits, and your passport, it’s time for the last few changes.
Many families seek financial planning advice specifically for retirement. But if they wait too long, they miss an important tax-planning opportunity. A great strategy is to take advantage of the time between retirement and Social Security at age 70, the so-called gap years.
Understanding how Cost-of-Living Adjustment (COLA) works uncovers some of the complex cause and effect between Social Security adjustments and the real cost of living with higher gasoline prices.
Before you say, “Oh, that doesn’t sound too hard,” you simply haven’t thought of the complexity.
We have attempted in this article to provide generic guidance on the topic of calculating your own safe spending rate.
Converting early can avoid your exposure to tax changes going forward as a Roth IRA is never taxed again.
Roth conversions can decrease your taxable income and increase your tax savings over the long haul.
The 3.8% Net Investment Income Tax (NIIT) is a Medicare contribution tax on investment income.
After over a decade of broken promises and rising costs, our need for a more sustainable tax system is acutely felt.
The IRS authors make clear that the purpose of the notice is to “provide guidance on discreet issues to assist in commencing implementation of these provisions” not to provide comprehensive guidance.
After over a decade of broken promises and rising costs, our need for a more sustainable healthcare system is acutely felt.
It sounds broad and easy to use, but it is actually very specific and uncommon.
We can receive documents to our secure ShareFile client portal.
These grants are called “K-12 Learning Acceleration Grants” and must be used to pay for “qualifying education services.”
I have difficultly imagining a likely outcome where I would regret a Roth conversion.
While there can be a lot of uncertainty, the conclusion is normally anticlimactic.